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Doug O. Jones

Senior Vice-President, BDO

Doug Jones is the Senior Vice-President in charge of the Financial Recovery Services Practice for BDO’s Ontario Lakeland Region, which spans from Sudbury in the north to Peterborough in the south.

Doug has 24 years of Insolvency and Restructuring experience in both consumer (personal) and commercial insolvency. His personal insolvency practice is one of the largest in Canada and has had him become a sought after expert for television, radio and print publications. His significant commercial insolvency experience includes the corporate restructuring of a publicly traded company, liquidation of The Dominion Trust Company and Insolvency proceedings for numerous small and medium sized businesses.
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What the Marshmallow Test Tells Us About Money Management

Back in the 1960s, Stanford University researcher Walter Mischel conducted a famous study about self-control. After following the study group for 40 years, the researcher's findings about self-control continue to provide insight today into our collective psychology. That insight may be worth reflecting upon as we confront our current debt loads.
03/25/2014 12:34 EDT
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How's Your "Debt Psyche"?

In the financial media, January is the month often coined the 'debt hangover' with many people feeling the winter blues while trying to reconcile how they will service their holiday bills and increasing debt loads. The 'debt psyche' that results for many during this period is often one of a heightened aversion to assuming more debt.
01/24/2014 08:01 EST

Pension Warnings Worrisome As Seniors' Debts Grow

Faced with the level of debt many seniors are currently carrying and the significantly underfunded retirement savings of many Canadians, the "fraying" of the CPP is a matter that needs addressing. If left unchecked, its impact could be on the national economy and not just the individual families affected.
11/29/2013 05:30 EST
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Are Millennials Being Desensitized to Debt?

Are our young Millennials are being conditioned to carry large debt loads and may have become desensitized to debt as a result. If such desensitization has occurred, what does that hold for our economic and social future as a society?
11/12/2013 05:36 EST
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The Ripple Effect of Divorce Debt

The long-term financial health of those separating can be severely impacted as they seek to divide assets and agree upon income support payments. What many may not realize, however, is that this financial damage can lead to debt and financial challenges for not only the individuals separating, but their extended families as well.
10/27/2013 11:44 EDT
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Does U.S. Debt Ceiling Debate Compromise Citizens' Money Morals?

The U.S. debt was $1-trillion in 1982, and at $12.1-trillion just four years ago. It's now at $16.7-trillion and needing to be raised on Oct. 17th, or the country will be unable to pay its bills and will default on debt payments. This sends a clear message to a debt-ridden populace: that their own government doesn't even take debt that seriously.
10/07/2013 01:03 EDT

Should Our Debt Be Treated Like Our Productivity Gap?

The financial press in Canada has been identifying our deficient economic productivity for several years now. In 2012, the Financial Post ran a column entitled "Canada's productivity gap is looking worse than ever. There may be opportunities to influence our growing debt problems in the country through programs comparable to those used to stimulate our economy's productivity. If tax credits and other incentive programs can be formulated to help stimulate our productivity gap, are there similar policies that could find ways to help those looking to start their own business, create jobs and directly impact the economy and productivity?
09/24/2013 05:42 EDT
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The Finance Minister's Advice to His Kids -- And Us

Our Finance Minister's concerns regarding Canadians' personal debt loads have been well-illustrated through his policy initiates and warnings over the past year. The common sense money advice he is reported to have given his own children, however, may be far more telling in terms of revealing how the Minister views debt.
08/27/2013 05:41 EDT
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What Housing Prices Do to the Canadian Psyche

A radical deceleration in house prices could have a comparable impact upon people's psyches, let alone their finances. After years of unbridled appreciation in the value of their primary asset (.ie. their home), many have developed an ardent confidence based upon the expectation of a continuance of this trend.
08/06/2013 12:14 EDT

Has Lifestyle Downsizing Replaced Gekko's Greed Generation?

The famed 1987 movie Wall Street won Michael Douglas the Academy Award for Best Actor for his portrayal of the fictitious character Gordon Gekko. The character is memorable for his belief that "greed, for lack of a better word, is good." But with the levels of debt Millennials are facing, they may have to adopt a new mantra.
07/22/2013 06:09 EDT
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Debt Disasters Are Not Unlike Natural Disasters - Plan Ahead

Like the floods recently seen in Alberta, many causes of debt disasters are not foreseeable and enact considerable emotional and financial devastation. Their onset can be rapid and quickly overwhelming, with the damage permanent or requiring years to repair.
07/02/2013 12:17 EDT
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Happy Graduation, You're $30,000 in Debt!

Those graduating from post-secondary programs this spring faced the harsh reality that student loan debt in the country has exceeded $15 billion. When our financial leaders speak of Canada's current personal debt, they speak about monetary considerations like tightening mortgage rules and anticipated interest rate increases. But we don't hear many comments about current debt loads that go beyond the economics of the issue. What about the social changes that may be required to dealt with, or simply result from, all this debt?
06/18/2013 08:30 EDT
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The Danger of Boomer Generosity

TD Canada Trust recently released a report that was a little surprising, both from a financial and social perspective. It indicated that one-in-five baby boomers (19 per cent) admitted to researchers that they would consider jeopardizing their own financial stability and future in order to help their adult kids financially. But is that good?
05/29/2013 07:47 EDT
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Why We Can't Afford to Spend Our Country Out of Debt

With GDP forecast to grow by a mere 1.6 per cent this year, our governments (both provincial and federal) need consumers to keep on spending to prop up the economy. They need this while they, themselves, are struggling with ballooning deficits and debt loads.
04/30/2013 12:00 EDT
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How Canadians Dug Themselves into Debt

One may truly feel for our Minister of Finance, as no one likes to talk and be ignored. Yet, this seems to be an experience Mr. Flaherty knows all too well, as the past year he has repeatedly warned Canadians about their increasing personal debt loads, only to have those warnings tuned out.
03/26/2013 05:18 EDT
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How Your Going Broke Could Break Canada

In a country that prides itself on its social safety net, one could argue that the current personal debt story is really a story of an endangered future for the things we hold dear as a society. Will debt-ridden Canadians be supportive at election time of paying more in taxes to maintain universal health care?
02/22/2013 08:25 EST