Can you identify and escape the pitfalls of debt traps?

Learn from the co-founders of Hoyes Michalos how marketing and psychology fuel debt cycles. Spot the warning signs of financial trouble—from payday loans to student debt—and understand the emotional toll that debt can take. Plus, gain practical, proven strategies to break free from the cycle and achieve financial stability.

(0:00) – What is a debt trap, and how does it work?
(3:30) – Inflation still stretching budgets
(4:30) – The student loan dilemma
(5:30) – Homeownership can be a debt trap
(7:15) – Utilization Rate – borrowing more than you can handle
(8:30) – Stress and the emotional toll of being trapped in debt
(11:00) – How a debt traps are created– the power of marketing and psychology
(21:20) – Warning signs you’re falling into a debt trap
(24:30) – Practical solutions to escape the cycle of debt
(27:45) – What’s really keeping you stuck in a debt trap

‘Debtasized’ Full Length Documentary – Free on YouTube HERE

Payday Loan Debt Relief in Ontario: Break the Cycle

Pros and Cons of Using Payday Loans in Emergencies

Does Debt Consolidation Impact My Credit Score

Debt Repayment Calculator

Debt To Income Ratio Calculator

FREE Credit Rebuilding Course

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Straight Talk on Your Money by Doug Hoyes

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Disclaimer:
The information provided in the Debt Free in 30 Podcast is for entertainment and informational purposes only and is not intended as personal financial advice. Individual financial situations vary and may require personalized advice from a qualified financial advisor. Always consult with a financial professional. The views expressed in this episode do not necessarily reflect the opinions of Hoyes, Michalos & Associates, or any other affiliated organizations. We do not endorse or guarantee the effectiveness of any specific financial institutions or strategies discussed.