315 – Debt, Savings & Consumer Spending with Ted Michalos

Last week, Doug Hoyes walked us through several key statistics, including insolvency filings, household savings rates, and loan deferrals. On today's show, he digs deeper into the 'whys' behind the numbers with guest Ted Michalos. Tune in as they give an update on why personal insolvencies are down and how much longer they expect filings will decline; They also discuss why savings rates are up and whether they will remain high; and why car sales have increased despite many people working from home. Doug and Ted also offer practical advice for managing your debt if you are still looking for work or if you have benefited financially from the lock-down. Don't miss a great discussion!

Related Links:

Season 7 Premiere & What's Going to Happen with Debt in the Fall: https://www.youtube.com/watch?v=odokdpoPng8​

Ontario Bankruptcy and Consumer Proposal Statistics: https://www.hoyes.com/press/consumer-insolvency-statistics/