Top tips on how to file taxes. How to file taxes in Canada, setup your CRA my account, deadlines, government benefits and how to receive your refund with no additional fees. We also discuss tax discounting services, the importance of gathering all your documents, claiming all legitimate deductions such as moving expenses and tuition and notifying CRA of any changes such as your marital status, address, etc.  Tune in for great practical advice and recommendations on which tools to use to file your taxes for free in 2024.

Time Stamps:

00:00 - Why should you file your taxes?

06:07 - Government benefits

08:30 - Deadlines

14:52 - Set up for CRA my account

24:20 - Do your taxes yourself and file for free

26:54 - Notify CRA of any changes

27:46 - Tax discounting services

32:24 - What if you cannot afford to pay your tax debts?

Related Links:

Avoid Instant Cash Back: https://www.hoyes.com/blog/instant-cash-back-on-tax-refunds-is-it-worth-it/

Tax Debt Relief in Canada: https://www.hoyes.com/debt-relief/tax-debt/

Tax Returns Not Filed Because You Are Afraid You Have Tax Debts?: https://www.hoyes.com/blog/tax-returns-not-filed/

Income Taxes and Bankruptcy - What You Need to Know: https://www.hoyes.com/blog/income-taxes-and-bankruptcy-what-you-need-to-know/

CRA – My Account for Individuals: https://www.canada.ca/en/revenue-agency/services/e-services/digital-services-individuals/account-individuals.html

CRA – Due Dates and Payment Dates: https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/important-dates-individuals.html

CRA - Interest and Penalties on Late Taxes: https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/about-your-tax-return/interest-penalties/late-filing-penalty.html

CRA – Prescribed Interest Rates: https://www.canada.ca/en/revenue-agency/services/tax/prescribed-interest-rates.html

CRA – Tax Credits and Benefits for Individuals: https://www.canada.ca/en/services/taxes/child-and-family-benefits.html

CRA – Child and Family Benefits Calculator: https://www.canada.ca/en/revenue-agency/services/child-family-benefits/child-family-benefits-calculator.html

CRA - Tuition Tax Credit: https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/about-your-tax-return/tax-return/completing-a-tax-return/deductions-credits-expenses/line-32300-your-tuition-education-textbook-amounts/eligible-tuition-fees.html

CRA - Free Tax Filing Software: https://www.canada.ca/en/revenue-agency/services/e-services/digital-services-individuals/netfile-overview/certified-software-netfile-program.html

In this episode, Doug and Ted discuss the risks of co-signing on a loan. They discuss the differences between joint loans and co-signed loans and the impact they can have on your credit. They address common scenarios such as parental co-signing and provide advice on alternative ways to assist friends or children financially without assuming the burden of co-signing. This episode is a must-listen if you've ever considered co-signing a loan. 

Related Links:

How Is Cosigned Debt Treated in a Consumer Proposal? https://www.hoyes.com/blog/how-is-cosigned-debt-treated-in-a-consumer-proposal/

A Complete Guide To Joint Debts https://www.hoyes.com/blog/a-complete-guide-to-joint-debts/

Should Married Couples Get a Joint Consolidation Loan?

https://www.hoyes.com/blog/should-married-couples-get-a-joint-consolidation-loan/

Co-Signer vs Co-Borrower | What's the difference?

https://www.youtube.com/watch?v=ee4R7mKxp1w

Joint Debt and Co-Signing. Am I Responsible For My Spouse’s Debt?

https://www.youtube.com/watch?v=M9gBlzJXnG0

Don’t Lend to Family or Co-Sign – It Can Hurt Your Finances

https://www.youtube.com/watch?v=KGpQ4CX_IB4

What Is Joint Debt?

https://www.youtube.com/watch?v=jRGcHSWl_nw

In this episode of Debt Free in 30, Ted and Doug discuss RRSP early withdrawals. They weigh the pros and cons of tapping into your savings before retirement and discuss tax implications, CPP and exceptions such as the Home Buyer's Program and the Lifelong Learning Plan. This helpful discussion will give you the knowledge to make the right decisions when it comes to withdrawing your RRSP.

Time Stamps:

00:00 - Introduction

00:39 - What is an RRSP?

01:43 - Is there a good time to cash in an RRSP?

2:41 - Withdrawing money from your RRSP

4:38 - TFSA vs RRSP

6:29 - Is there a good time to cash in an RRSP before retirement?

8:23 - If you are buying a home for the first time is it a good idea to take out your RRSP?

10:28 - The lifelong learning plan

12:51 – Should I use my RRSP for living expenses?

15:00 – When should I take my CPP

17:58  – Creditors can’t go after RRSP             

22:42 – Bankruptcy vs. Consumer Proposal

28:03 – Conclusion

Related Links:

Canadian Retirement Income Calculator https://www.canada.ca/en/services/benefits/publicpensions/cpp/retirement-income-calculator.html

RRSP New Home Buyer’s Plan https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/rrsps-related-plans/what-home-buyers-plan.html

RRSP Life Long Learning Plan https://www.canada.ca/en/revenue-agency/services/tax/individuals/topics/rrsps-related-plans/lifelong-learning-plan.html

Should I Use My RRSP to Pay Off Debt? https://www.hoyes.com/blog/should-i-use-my-rrsp-to-pay-off-debt/

RRSP, Registered Savings Accounts and Bankruptcy Laws https://www.hoyes.com/blog/rrsp-bankruptcy-laws-canada/

In this episode, Maureen and Doug explore financial habits and discuss why we spend the way we do and how we can make better choices. Maureen shares how habits form and how you can be influenced to spend money. From understanding the psychology behind spending to learning strategies for breaking bad habits and building good ones, this episode will give you tools to take charge of your finances and break bad habits!

Related Links:

Maureen Parent - https://www.hoyes.com/about-hoyes-michalos/bankruptcy-trustees/maureen-parent/

Learn Price Matching Tips on the Flipp App to Save Big on Groceries - https://www.youtube.com/watch?v=VHu_cWGlUR8&t=1s

What’s Really Causing Grocery & Food Inflation? w/ The Food Professor https://www.youtube.com/watch?v=bZrsL4LgI2A&t=3s

How to Improve Your Financial Wellness https://www.hoyes.com/blog/how-to-improve-your-financial-wellness/

PSYCHOLOGY OF SPENDING, PROF DRAZAN PRELEC https://betterworld.mit.edu/spectrum/issues/winter-1999/the-psychology-of-spending/

PSYCHOLOGY OF MONEY: SAVING AND SPENDING HABITS- by Erin Bruehl-journalist https://current.com/blog/the-psychology-of-money-saving-and-spending-habits/

HABITS MATTER MORE… REBECCA STRONG- MEDICALLY REVIEWED BY JOSLYN JELINEK LCSW https://www.healthline.com/health/mental-health/why-are-habits-important

CONSUMER FINANCIAL PROTECTION BUREAU https://www.consumerfinance.gov/consumer-tools/educator-tools/youth-financial-education/learn/financial-habits-norms/

7 SIMPLE WAYS TO BUILD GOOD MONEY HABITS- RENE BENNETT https://www.consumerfinance.gov/consumer-tools/educator-tools/youth-financial-education/learn/financial-habits-norms/

In this episode, Doug Hoyes and Ted Michalos discuss the annual Hoyes Michalos Joe Debtor Bankruptcy Study for 2023. They talk about why credit card debt is driving consumer insolvencies, challenges faced by homeowners, and why we are seeing an increase in insolvencies among higher-income individuals. For more information, you can access the detailed report at joedebtor.ca.

Related Links:

Hoyes Michalos Joe Debtor Bankruptcy Study: www.joedebtor.ca

Office of the Superintendent of Bankruptcy – Canadian Consumer Debtor Profile – 2021: https://ised-isde.canada.ca/site/office-superintendent-bankruptcy/en/statistics-and-research/canadian-consumer-debtor-profile-2021

Credit Card Debt is a Problem For A Lot of Canadians: https://www.hoyes.com/debt-relief/credit-card-debt/

2023 Debt Statistics and What It Means for Consumer Insolvencies: https://www.hoyes.com/blog/2023-debt-statistics-and-what-it-means-for-consumer-insolvencies/

How Car Loans and Car Loan Rollovers Lead to Insolvency: https://www.hoyes.com/blog/how-can-car-loans-lead-to-insolvency/

Student Loans and the 7 Year Rule: https://www.hoyes.com/blog/are-your-student-loans-past-the-7-year-rule-a-vaughan-bankruptcy-story/

Hoyes Michalos Homeowners Bankruptcy Index: https://www.hoyes.com/press/homeowner-bankruptcy-index/

In this episode, Doug chats with Janette Martin, a Credit Counsellor at Hoyes Michalos. Janette shares her tips on saving money while grocery shopping, focusing on the Flipp app. They discuss using the app to review online flyers, price matching across various stores, the checkout process, potential savings and time commitments. They also touch on the pros and cons of using the app for smarter shopping.  Additionally, Janette also explains the rebate app Checkout 51.  Enjoy!

Related Links: 

Flipp: https://flipp.com/ 

Checkout 51: https://www.checkout51.com/ 

Jannette Martin: https://www.hoyes.com/about-hoyes-michalos/bankruptcy-trustees/janette-martin/ 

In this episode, Doug and Ted discuss the government's intention to lower Canada's criminal interest rate from 60% EAR to 35% APR and set the maximum cost of borrowing for payday loans at $14 per $100 borrowed.  They explore the implications for borrowers and lenders, particularly in the payday loan sector. Doug and Ted touch on compound interest, presenting arguments from both perspectives, with insights from the Canadian Lenders Association. Ted also discusses alternative lenders' and how they are assisting Canadians in rebuilding credit.  Enjoy!

Related Links: 

Canada Gazette, Regulations

https://www.gazette.gc.ca/rp-pr/p1/2023/2023-12-23/html/reg3-eng.html 

Criminal Code 

https://laws-lois.justice.gc.ca/eng/acts/c-46/page-51.html#h-122004 

In this eye-opening episode of Debt Free in 30 host Doug Hoyes is joined by guest Richard Dunwoody to unravel the often-overlooked connection between human trafficking and coerced debt. With Ontario facing the second-highest rate of police-reported human trafficking in Canada, the conversation sheds light on how traffickers exploit victims financially. The focus turns to Bill 41, the "Protection from Coerced Debts Incurred in relation to Human Trafficking Act, 2023," exploring its role in safeguarding victims from crushing debts. From explaining what coerced debt means to tackling potential challenges, the episode breaks down the proposed legislation's impact on creditors, unlicensed debt consultants, and, most importantly, the victims. Join us for a discussion on how this legislation could be a crucial shield for those affected by human trafficking and coerced debts.

Related Links:  

Human Trafficking and Financial Fraud: A Survivor’s Story  

https://www.youtube.com/watch?v=9z8kNmVuFpY 

A Different View of Credit Counselling & Getting Out of Debt 

https://www.youtube.com/watch?v=qLWWNREu4x4 

Concord Adex Survivors Fund
https://www.survivorsfund.ca/

In this episode of Debt Free in 30, Doug and Ted discuss the ongoing battle against unregulated debt consultants. They dive into the recent developments, including the conversation with Superintendent of Bankruptcy Elisabeth Lang and the release of a comprehensive position paper. The paper exposes the deceptive practices of these consultants, who have cost consumers a staggering $21 million in fees over the last two years! Doug questions the effectiveness of government actions while providing practical tips to avoid falling prey to debt relief scams.  

Related Links: 

Position Paper on the Adverse Effects of the Debt Advisory Marketplace on the Insolvency System.  

https://ised-isde.canada.ca/site/office-superintendent-bankruptcy/en/licensed-insolvency-trustees/adverse-effects-of-the-debt-advisory-marketplace-on-the-insolvency-system 

The Adverse Effects of the Debt Advisory Marketplace on the Insolvency System  

https://ised-isde.canada.ca/site/office-superintendent-bankruptcy/en/licensed-insolvency-trustees/adverse-effects-of-the-debt-advisory-marketplace-on-the-insolvency-system 

OSB Statutory Complaint Portal 

https://www.ic.gc.ca/eic/site/bsf-osb.nsf/frm-eng/LSMH-BB2MMW 

Competition Bureau’s Complaint Form 

https://www.competitionbureau.gc.ca/eic/site/cb-bc.nsf/frm-eng/GH%C3%89T-7TDNA5 

Debt Consultants: Why You Should Avoid the Extra Cost

https://www.hoyes.com/blog/debt-consultants-why-you-should-avoid-the-extra-cost/

The Problem with Debt Consultants

https://www.hoyes.com/blog/the-problem-with-debt-consultants/

Debt Counsellors and Debt Coaches - Real or Scam?

https://www.hoyes.com/blog/debt-counsellors-and-debt-coaches-real-or-scam/

Use of Debt Consultants Questioned by OSB

https://www.hoyes.com/blog/use-of-debt-consultants-questioned-by-office-of-the-superintendent-of-bankruptcy/

Debt Consultants or Licensed Insolvency Trustees? Who to Trust

https://www.hoyes.com/blog/debt-consultants-or-licensed-insolvency-trustees/

The Cold-Hard Truth About Unlicensed Debt Consultants

https://www.hoyes.com/blog/the-cold-hard-truth-about-unlicensed-debt-consultants/

Get ready for 2024 with our first episode of the year! Join Doug Hoyes as he gives a straightforward take on New Year's resolutions, highlighting the need for a practical plan and figuring out what really matters to you. He talks about why arbitrary resolutions may not work and gives advice on making changes that actually stick. Doug shares easy steps to cut debt, handle expenses, and boost income, offering practical tips to make your financial journey in 2024 a success. Don't wait – hit play now and make this your best financial year yet!

Related Links: 

How are habits formed: Modelling habit formation in the real world, European Journal of Social Psychology, Phillipa Lally 

https://onlinelibrary.wiley.com/doi/abs/10.1002/ejsp.674

Getting Out Of Debt Requires A System, Not Just A Goal 

https://youtu.be/ysvkV0uN7mM?si=tcUHlcE7gWVzdAK9 

https://www.hoyes.com/blog/getting-out-of-debt-requires-a-system-not-just-a-goal/ 

Debt Management Plan 

https://www.hoyes.com/debt-relief/debt-management-plan/ 

Build a Get Out of Debt Repayment Plan 

https://www.hoyes.com/debt-relief/get-out-of-debt/ 

In this year-end podcast, Doug and Ted review their 2023 predictions and share insights on what to expect in 2024. They discuss the accuracy of last year's forecasts on inflation, interest rates, and insolvency rates. Doug predicts a decline in inflation due to an anticipated recession, and Ted adds insights on borrowing for essential living costs and the potential rise in insolvencies. They acknowledge wildcard factors like the real estate market and unemployment rates. Tune in for predictions on what is on the horizon for 2024 and how it could shape your financial future. 

Related Links: 

2023 Debt Statistics and What It Means for Consumer Insolvencies 
https://www.hoyes.com/blog/2023-debt-statistics-and-what-it-means-for-consumer-insolvencies/  

Why Are Consumer Insolvencies Back Up? [Year-End Analysis + 2023 Predictions]   https://youtu.be/3i22JpmcozY  

Bank of Canada Interest Rates  https://www.hoyes.com/blog/rising-interest-rates-and-debt-what-can-you-do/ 

Federal Budget Deficit  https://hillnotes.ca/2023/04/06/the-2023-federal-budget-at-a-glance/ 

Bank of Canada: Definition of M2   https://www.bankofcanada.ca/rates/indicators/key-variables/monetary-aggregates/ 

Statistics Canada. Table 36-10-0639-01, Credit liabilities of households (x 1,000,000) 

https://www150.statcan.gc.ca/t1/tbl1/en/tv.action?pid=3610063901 

Statistics and Research from Statistics Canada 

https://ised-isde.canada.ca/site/office-superintendent-bankruptcy/en/statistics-and-research 
https://www150.statcan.gc.ca/t1/tbl1/en/tv.action?pid=1810000401 
https://www150.statcan.gc.ca/t1/tbl1/en/tv.action?pid=1410032001 

https://www150.statcan.gc.ca/t1/tbl1/en/tv.action?pid=3610063901 
https://www150.statcan.gc.ca/t1/tbl1/en/tv.action?pid=1110006501
https://www150.statcan.gc.ca/t1/tbl1/en/tv.action?pid=3610011201

https://www150.statcan.gc.ca/t1/tbl1/en/tv.action?pid=3810023801

https://www150.statcan.gc.ca/t1/tbl1/en/tv.action?pid=1410028701

Join Doug and Ted as they break down simple strategies for financial success in 2024. Whether you're dreaming of starting a business, planning for retirement, or making big purchases, their advice can make a real impact. They discuss the importance of having a personal plan and explore the significance of setting long-term goals. Don't miss out on valuable insights. Take charge of your financial future in 2024! 

Related Links: 

Have a question or comment for a future show?  Leave us a voice message here: https://www.hoyes.com/dfi30comments  

Episode 482 -  Setting Yourself Up for Success in 2024 – Annual Financial Check Up 

https://youtu.be/yBJZkk6JSjk?si=_-3JSHJtzDtjwpI3  

Episode 227 – Getting Out of Debt Requires a System, Not Just a Goal 

https://youtu.be/ysvkV0uN7mM?si=K2L_Yuo_D5h4GXll  

Getting Out Of Debt Requires A System, Not Just A Goal https://www.hoyes.com/blog/getting-out-of-debt-requires-a-system-not-just-a-goal/ 

Save Money with Recipes from Cashflow Cookbook https://www.hoyes.com/blog/save-money-with-recipes-from-cashflow-cookbook/ 

Planning for Retirement? Pay Off Debt & Start Practicing https://www.hoyes.com/blog/planning-for-retirement-pay-off-debt-start-practicing/ 

How to Minimize Debt Before and After Retirement  https://www.hoyes.com/blog/how-to-minimize-debt-before-and-after-retirement/ 

Build a Get Out of Debt Repayment Plan  https://www.hoyes.com/debt-relief/get-out-of-debt/ 

Does the cost-of-living soar when you're flying solo? Join Doug in this episode as he's joined by Heather Cudmore, a Certified Credit Counsellor, and Client Service Specialist at Hoyes Michalos. Together, they delve into the concept of the 'single tax' and discuss the unique financial hurdles that singles often encounter.  

Drawing on her extensive experience assisting single clients, Heather shares valuable insights and practical advice. She discusses the importance of building an emergency fund to navigate unexpected life events and advocates for budgeting to uncover potential savings. From housing and transportation to entertainment, pets and food, Heather provides actionable tips, including exploring unconventional living arrangements, embracing online grocery shopping, and minimizing food waste. 

Related Links: 

Have a question or comment for a future show?  Leave us a voice message here: https://www.hoyes.com/dfi30comments 

Heather Cudmore (BA, Certified Credit Counsellor and Client Service Specialist) - https://www.hoyes.com/about-hoyes-michalos/bankruptcy-trustees/heather-cudmore/ 

Statistics Canada. 2023. Census Profile. 2021 Census.  Statistics Canada Catalogue no. 98-316-X2021001. Ottawa. Released February 8 2023: https://www12.statcan.gc.ca/census-recensement/2021/dp-pd/prof/index.cfm 

Financial Stress Facing Single Parents: https://www.hoyes.com/blog/financial-stress-facing-single-parents/ 

Emergency Fund Critical for Single Parents: https://www.hoyes.com/blog/emergency-fund-critical-for-single-parents/ 

Dealing with Debt When Living Paycheque to Paycheque: https://www.hoyes.com/blog/dealing-with-debt-when-living-paycheque-to-paycheque/ 

In this episode, Doug sits down with Joel Sandwith, a Licensed Insolvency Trustee based at the Hoyes Michalos London office. Together, they explore effective debt management strategies and delve into optimal approaches for debt repayment. The episode provides a comprehensive comparison of the snowball and avalanche methods. If you're trying to figure out the best way to pay off your debts, this episode is a helpful guide. It's here to support you on your journey to financial freedom, giving you insights into different methods and assisting you in selecting the one that suits you best. 

Related Links: 

Have a question or comment for a future show?  Leave us a voice message here: https://www.hoyes.com/dfi30comments  

Joel Sandwith BA, Licensed Insolvency Trustee - https://www.hoyes.com/about-hoyes-michalos/bankruptcy-trustees/joel-sandwith/ 

Debt Snowball Method vs High Interest First - https://www.hoyes.com/blog/debt-snowball-method-vs-high-interest-first/ 

Debt Repayment Worksheet - https://www.hoyes.com/debt-repayment-worksheet/ 

Debt Repayment & Consumer Proposal Calculator - https://www.hoyes.com/debt-repayment-calculator/ 

In this week’s episode of Debt Free in 30, credit expert Richard Moxley returns to tackle the burning question: Why are credit reports always wrong? From the importance of credit ratings to practical tips on finding and fixing errors, we cover it all. Discover how to navigate post-insolvency challenges, handle account changes, and conquer stubborn collection accounts. Don't miss this deep dive into credit report complexities with actionable solutions!  

Timestamps:

00:00 Introduction 

01:21 Why is my credit rating important? 

04:19 Do I care what’s on my credit report if I don’t plan to borrow? 

07:54 Should you check your credit report for errors? 

09:40 Is current employment updated on your credit report? 

11:00 How do you I find errors on my credit report and what errors do I look for? 

14:11 I filed a consumer proposal why is a creditor reporting I am behind on my payments? 

17:25 What happens if you sue the credit bureaus. 

20:36 Can you go to individual creditors to fix errors on late payments? 

23:21 Are there any strategies you can use to fix errors on your credit report? 

28:00 How much will it cost to have a credit expert fix the errors on my credit report? 

29:08 Are free credit score apps worth it? 

33:14 Disputes and account numbers 

37:24 Concluding comments 

Related Links: 

Have a question or comment for a future show?  Leave us a voice message here: https://www.hoyes.com/dfi30comments  

Richard Moxley’s Website: https://creditgame.net/ 

The Credit Game: Rules Every Canadian Must Know to Win: https://www.amazon.ca/Credit-Game-Rules-Every-Canadian-ebook/dp/B07XKG1VHP

TransUnion Credit Report Explained: https://www.youtube.com/watch?v=BWFO_C336BM

How to get and print your FREE Equifax report: https://www.youtube.com/watch?v=Z03_DvfFY38

How to get and print your Free credit report from TransUnion: https://www.youtube.com/watch?v=K6a_R8gZFnw

How to Dispute Errors on Your Credit Report: https://www.youtube.com/watch?v=zuuGtBR40QY

How to Rebuild Your Credit Score Fast!: https://www.youtube.com/watch?v=Y6OJoQPia28

How to Read a Credit Bureau: Equifax Canada: https://www.youtube.com/watch?v=PEVHQOAFw64

Debt Free in 30 Episode #284 - Rules to Master Your Credit with Richard Moxley https://www.youtube.com/watch?v=jP6etPo_CQc February 8, 2020 (from Toronto) 

Debt Free in 30 Episode #329 - Fix Bad Credit Yourself - Tips & Tricks From an Expert https://www.youtube.com/watch?v=BtncJCxN4So December 19, 2020 (by Zoom) 

7 Facts About Your Credit Rating (What’s in your Credit Score?)  

https://www.hoyes.com/blog/7-facts-credit-rating/ 

Free Credit Score Comes With a Catch:

https://www.hoyes.com/blog/free-credit-score-comes-with-a-catch/ 

The Big Credit Score Scam:

https://www.hoyes.com/blog/the-big-credit-score-scam/ 

What Are The Common Factors That Affect A Credit Score?:

https://www.hoyes.com/blog/what-are-the-common-factors-that-affect-a-credit-score/ 

In this episode, Doug Hoyes is joined by Ted Michalos as they discuss the importance of doing an annual financial checkup.  Doug explains the importance of having a plan and touches on various topics such as updating your will, insurance, investments, bank accounts, taxes, passwords, and debt.  Now is the time to review your finances and make a plan for the new year so you can set yourself up for success!

Time Stamps

00:00 Introduction

01:20 Self Assessment

02:03 Review and Update Your Will

02:57 Power of Attorney for Personal Care & Power of Attorney Over Property

04:18 Insurance

04:24 Life Insurance

05:16 Term Insurance

06:15 Mortgage Insurance vs. Life Insurance

08:15 Medical/Disability Insurance

09:23 Asset Insurance (Car Insurance, Homeowners Insurance)

10:31 Credit Insurance

11:32 Investments

11:39 Do Investments Still Make Sense?

13:53 Bank Accounts

14:41 Should You Have More Than One Bank Account?

18:30 Big Banks vs. Virtual Banks Interest Rates and Fees

23:41 Should You Reconcile Your Bank Account?

25:36 Passwords

26:30 Taxes

26:58 Debt – Make a Plan

Related Links:

Why You Should Bank at More Than One Bank

https://www.hoyes.com/blog/why-you-should-bank-at-more-than-one-bank/

Why Do I Need To Switch Banks? I Love My Bank.

https://www.hoyes.com/blog/why-do-i-need-to-switch-banks-i-love-my-bank/

How to Open a New Bank Account For A Bankruptcy or Consumer Proposal

https://www.hoyes.com/blog/opening-a-new-bank-account-bankruptcy-consumer-proposal/

RRSP, Registered Savings Accounts and Bankruptcy Laws

https://www.hoyes.com/blog/rrsp-bankruptcy-laws-canada/

Power of Attorney: Can I Deal With My Parents’ Debts?

 https://www.hoyes.com/blog/power-of-attorney-parents-debts/

Income Taxes and Bankruptcy – What You Need to Know

https://www.hoyes.com/blog/income-taxes-and-bankruptcy-what-you-need-to-know/

Crushing Debt. Why Canadians Should Drop Everything and Pay Off Debt

https://www.hoyes.com/blog/crushing-debt-why-canadians-should-drop-everything-and-pay-off-debt/

What is a Debt Free in 30 Debt Assessment?

https://www.hoyes.com/about-hoyes-michalos/debt-free-in-30/

In this episode, Doug Hoyes discusses retirement planning with special guest Rona Birenbaum, a Certified Financial Planner at Caring for Clients. The episode covers various retirement-related topics, including the importance of financial planning, the role of financial advisors, and the complexities of decisions such as when to retire and when to start receiving government benefits like CPP.

The discussion emphasizes the need for careful consideration of lifestyle preferences, budgeting, and financial goals when planning for retirement. The conversation also touches on the role of debt in retirement planning, highlighting the benefits of entering retirement with minimal debt. The episode aims to provide valuable information and perspectives to help individuals navigate the complexities of retirement planning.

Related Links:

Have a question or comment for a future show?  Leave us a voice message here: https://www.hoyes.com/dfi30comments

Caring for Clients: www.careingforclients.com

Caring for Clients Facebook: https://www.facebook.com/profile.php?id=100033419084831

Caring for Clients YouTube: https://www.youtube.com/channel/UCZZL3BipR9-ZCLgUsOXE3Ag

Caring for Clients Twitter: https://twitter.com/Caring4Clients

Caring for Clients Blog: https://www.caringforclients.com/blog/

Rona Birenbaum, Episode 215, What is a Robo-Planner: Automated Financial Planning

https://youtu.be/rXW7a7EdCKA?si=fHVry4vas4tIJbCo

Planning for Retirement? Pay Off Debt & Start Practicing: https://www.hoyes.com/blog/planning-for-retirement-pay-off-debt-start-practicing/

How to Minimize Debt Before and After Retirement: https://www.hoyes.com/blog/how-to-minimize-debt-before-and-after-retirement/

Debt Relief for Seniors. What are Your Options?: https://www.hoyes.com/blog/debt-relief-for-seniors-what-are-your-options/

Seniors in Debt and Filing Bankruptcy: https://www.hoyes.com/press/joe-debtor/seniors-and-bankruptcy/

Doug Hoyes and Ted discuss a pressing issue that many Canadians face: the challenge of closing on a house when real estate prices have taken a hit. They discuss the complexities of the real estate market, particularly the implications for those who bought pre-construction homes or condos. They also explain the risks associated with pre-construction purchases, such as the potential loss of deposits and the financial difficulties of closing on a property with a lower appraised value. This episode provides practical advice and raises thought-provoking questions about the need for changes in deposit protection laws, shedding light on a crucial topic in today's housing market.

Related Links:

StateView homes receivership https://www.tarion.com/media/important-information-purchasers-and-owners-stateview-homes

Tarion New Home Deposit Protection https://www.tarion.com/media/deposit-protection-takes-stress-out-buying-new-homes

Why a House Does Not Guarantee Financial Security https://www.hoyes.com/blog/why-a-house-does-not-guarantee-financial-security/

Doug Hoyes and Ted Michalos discuss the state of the economy and explore the possibility of a silent depression.  Their discussion includes topics such as unemployment rates, the challenges confronted by the Millennial and Gen-Z generations, the recent increase in credit card debt, and the state of the real estate market. They also offer guidance on how to regain hope and devise a path towards achieving success amidst these challenging circumstances.

Related Links:

Have a question or comment for a future show?  Leave us a voice message here: https://www.hoyes.com/dfi30comments

The State of Mortgages with Ron Butler: https://www.youtube.com/live/e9lVf-moV1E?si=5O96QM8NfJbRc5Fo

Statistics Canada. Table 14-10-0287-01  Labour Force Characteristics, Monthly, Seasonally Adjusted and Trend-Cycle, Last 5 Months: https://www150.statcan.gc.ca/t1/tbl1/en/tv.action?pid=1410028701

Statistics Canada. Table 18-10-0004-01  Consumer Price Index, Monthly, Not Seasonally Adjusted: https://www150.statcan.gc.ca/t1/tbl1/en/tv.action?pid=1810000401

Millennials Heavy Payday Loan Users and It’s Costing Them Bigtime: https://www.hoyes.com/blog/millennials-heavy-payday-loan-users-and-its-costing-them-bigtime/

How To Minimize Debt as a Millennial: https://www.hoyes.com/blog/how-to-minimize-debt-as-a-millennial/

Student Debt Crisis – A Generation Buried in Student Debt: https://www.hoyes.com/press/joe-debtor/the-student-debtor/

I Can’t Pay My Bills.  What Are My Alternatives?: https://www.hoyes.com/blog/cant-pay-bills-alternatives/

7 Reasons Why Credit Cards Can Be So Dangerous: https://www.hoyes.com/blog/why-credit-cards-can-be-so-dangerous/

How Long Can You Run From Your Debt? And Should You?: https://www.hoyes.com/page/3/?s=can+i+afford+a+home

My Child Has A Lot of Debt.  How Can I Help?: https://www.hoyes.com/blog/my-child-has-a-lot-of-debt-how-can-i-help/

Debt Relief for Seniors.  What are Your Options?: https://www.hoyes.com/blog/debt-relief-for-seniors-what-are-your-options/

Seniors in Debt and Filing Bankruptcy: https://www.hoyes.com/press/joe-debtor/seniors-and-bankruptcy/

Doug Hoyes and special guest Ron Butler from The Angry Mortgage Podcast came together for a live episode on Monday, October 23rd. During this special event, they talked about current mortgage trends, real estate, Bank of Canada interest rates, inflation, and addressed questions from their audience. Whether you own a home or are planning to buy one in the near future, this conversation is definitely one you should listen to.

Related Links

Ron’s Links

Ron Butler on Twitter: @ronmortgageguy - https://twitter.com/ronmortgageguy

Ron Butler on Instagram: @ronmortgageguy https://www.instagram.com/ronmortgageguy/

Ron Butler LinkedIn: https://www.linkedin.com/in/ron-butler-345531b/

Butler Mortgage (mortgage rates) - https://www.butlermortgage.ca/mortgage-calculator/
Angry Mortgage Podcast - https://www.youtube.com/channel/UC8vl-_vvvf7VZcxKPJ-v-Xg

Hoyes Blog Links

High Interest Rates: What Can You Do/ - https://www.hoyes.com/blog/rising-interest-rates-and-debt-what-can-you-do/

Bank of Canada, share of mortgages with high Debt Service Ratio - https://www.bankofcanada.ca/rates/indicators/indicators-of-financial-vulnerabilities/

Average Toronto house prices: https://wowa.ca/toronto-housing-market

What To Do If Your Mortgage Is In Arrears - https://www.hoyes.com/blog/what-to-do-if-your-mortgage-is-in-arrears/

Mortgages and Bankruptcy in Ontario: What You Need to Know - https://www.hoyes.com/blog/mortgages-and-bankruptcy-in-ontario-what-you-need-to-know/

Can’t Pay Your Mortgage?  Options to Keep Your House - https://www.hoyes.com/blog/cant-pay-your-mortgage-options-to-keep-your-house/

Walking Away from a Mortgage in Canada - https://www.hoyes.com/blog/walking-away-from-a-mortgage-in-canada/

Renewing Your Mortgage as Rates Change - https://www.hoyes.com/blog/get-ready-for-higher-interest-rates/

Does The Mortgage Lender You Choose Matter? - https://www.hoyes.com/blog/does-the-mortgage-lender-you-choose-matter/

Homeowners Bankruptcy Index - https://www.hoyes.com/press/homeowner-bankruptcy-index/

YouTube Links

293 Debt, HELOCs, and The New World of Mortgage Lending with Ron Butler - https://www.youtube.com/watch?v=VDSd6z5EJzA

334 Mortgages & Home Equity Refinancing: What Are The Risks in 2021? - https://www.youtube.com/watch?v=-CSt5J7CIQ0

376 Should You Help Your Child Get a Mortgage? with Ron Butler - https://www.youtube.com/watch?v=INc3t7ikv-w

403 What’s Happening Now that Mortgage Rates are up? - https://www.youtube.com/watch?v=Iw-HtqgOgJM

421 - Mortgage Challenges After Record Rate Hikes + Advice with Ron Butler - https://youtu.be/kJ9vyHA5pJw

440  What's Happening to Mortgages in 2023 with Ron Butler - https://youtu.be/3umCpEf8m4Y