Hoyes Michalos has pre-released our 2017 Joe Debtor study results as they relate to payday loan usage by insolvent debtors in time for the Standing Committee on Social Policy to conduct a review of Bill 59: Putting Consumers First Act. We have also submitted our concerns about the prevalent use of payday loans by heavily […]
We don't just have a financial literacy problem in Canada, we have a debt literacy problem. Household debt in Canada continues to skyrocket, reaching a "gravity-defying" $2 trillion in December 2016. While it's true that we carry significant mortgage debt (it increased 5.9% last year), my biggest concern is that consumer debt increased roughly 3.4% from […]
In today's show our expert panel of personal finance professionals will answer questions on four recent issues within the personal finance realm. Each expert brings something different to the table, which gives us a well rounded view at these issues from all angles.
This past year had a lot of economic changing affecting how we live and spend. The key takeaway is that more and more Canadians are under financial pressure - especially those already carrying debt.
Hoyes Michalos is pleased to be a sponsor of The Foundation for Education Perth Huron’s annual fundraising Gala Auction again this year. The gala is the charitable organization’s largest fund raising event in support of programs in the Avon Maitland District School Board. The projects and influences the Foundation provides have made lasting differences to countless students, which is […]
Doug Hoyes and Ted Michalos talk about the October 2016 mortgage rules announced by the federal government and how they affect insured mortgages, borrowers, lenders and the real estate market. Listen to the podcast.
On today's show, I take a look at the fight between Walmart and Visa and talk about the many reasons, beyond high fees, why Walmart doesn't want to accept Visa in their stores any more.
Payday loans are a problem. The interest rate charged is massive. In 2016, payday lenders in Ontario can charge a maximum of $21 on every $100 borrowed, so if you borrow $100 for two weeks, pay it back with interest, and then repeat that cycle for a year, you end up paying $546 on the […]
Subscribe and download at iTunes or using the Stitcher app, or subscribe via our rss feed or download directly, or listen now: This is our final "best of" show of the summer, and it's a doozy: my interview with Hilliard Macbeth (you can find the original show notes on our is the Canadian real estate […]
Subscribe and download at iTunes or using the Stitcher app, or subscribe via our rss feed or download directly, or listen now: As I said on this show, Robert Brown's book Wealthing Like Rabbits contains the best first chapter in any personal finance book I have ever read. (If you haven't read the book, you should). This […]