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terday I recorded a podcast with insolvency trustee Doug Hoyes, co-founder of one of Canada’s largest personal insolvency firms. Last night I read his 2017 book Straight Talk on Your Money — the Biggest Financial Myths and Mistakes and How to Avoid Them.
Doug’s book should be part of school curriculums and required reading for anyone trying to establish good money management habits. Those who can understand and adopt the practical insights offered can avoid the common financial errors which are so widely prevalent today. Doug writes in an engaging, easy to read style full of real-life stories witnessed over 30 years as a chartered accountant and debt restructuring expert.
I have often observed that my early years as a litigation lawyer were invaluable in showing me first hand all the things that can go wrong with human relationships, businesses and money. Strong financial and life management is more about what not to do than most people appreciate. In the push to sell/buy financial products, many miss the critical foundation blocks and go straight to a focus on window dressing.
Sustainable strength is built from personal discipline and daily choices that minimize waste and balance life’s many risks. Doug’s book can help to refocus thinking and habits for a higher probability of stability and attaining individual goals. Doug’s blog and Debt-free in 30 podcasts also offer practical, valuable insights, and they are free.
I will post a video link to our discussion when it’s published in early June.
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