For many of us, it’s not January but September that qualifies as the start of the new year in Canada. Come the end of the Labour Day weekend, there’s a feeling the whole world is getting back into gear. Schoolrooms, boardrooms and businesses come alive; social and cultural events start ramping up; hockey season gets underway – and on and on. It seems we’re all full of enthusiasm to take on new challenges and to get stuff done.

Given the mood of the moment, I can think of no better time to put personal finances in order. With the right tools, it isn’t difficult. As a matter of fact, we make it easy at Credit Canada thanks to a bevy of online money management tools that can help you fine tune your life. The tools cover everything from setting budgets and tracking spending patterns, to analyzing mortgage payments and planning for retirement – plus much more.

Join me now for a closer look at each of the tools, which can be accessed anytime at www.creditcanada.com.
 
Piggy Pal – Your Money Tracker

PiggyPal is a true friend when it comes to managing money. Track your daily spending habits online or through your mobile handset while you’re on the go. Click here.
 
Piggy Pal Challenger

A fun, interactive game that tests your money management knowledge. Click here.
 
Benefits of Spending Less

A few reductions in your personal budget can free up money for investments. Here’s a calculator that shows you how to lay a new nest egg. Click here.

Budget Tracker Booklet

A pocket-sized booklet that helps you track monthly spending so you can budget intelligently. Click here to download the booklet.

Buy or Lease Calculator

Is it better to lease or to buy a car? This calculator offers answers that can put you in the driver’s seat to savings. Click here.
 
Debt Calculator

With this tool, you’ll discover how much interest you’re actually paying a creditor over the life of a loan. Click here.

Home Budget

Get your house in order with a calculator that helps you determine where your money is going. Click here.

Mortgage Rates

A tool that helps you compare mortgage rates from big banks, credit unions, specialty lenders and mortgage brokers in one search. Click here.

Mortgage Comparison Calculator

With this tool you can sort through monthly payments, fees and other costs associated with getting a new mortgage. Click here.

Mortgage Payoff

This calculator shows you how much interest can you save by increasing your mortgage payment. Click here.

Rent or Buy?

Should you rent or should you buy your home? This calculator helps you weed through fees, taxes, and monthly payments. Click here.

Retirement Planner

With this tool, you can lay the groundwork for a retirement plan. Click here.

RRSP Loan Calculator

Use this calculator to see how a RRSP loan could help you with your retirement savings plan. Click here.

Savings Calculator

Learn how even a modest but consistent savings strategy can work wonders. Click here.

Savings Goal

A tool offering you the big picture on the financial results of your savings plan. Click here.

Shopping Quiz

Test yourself with this shopping quiz to see if you have financial blind spots and are in need of credit counselling. Click here.

Student Budget Calculator

A calculator specifically designed to help students understand their expenses and income while attending a university, college or other full-time educational institution. Click here.

So that’s the kit. Feel free to use any or all of the above items anytime. And please share them with family and friends if need be. After all, the beauty of these tools is that you don’t have to worry about returning them to the box.

I came across an interesting article by Andrew Allentuck in today’s National Post that is worthy of sharing.  We all need to be aware of how our golden years of retirement can be very stressful when debt is a part of the plan.

For James Kennedy, a federal civil servant before he retired, and his wife, Jane, who retired from the Calgary civil service, the golden years have become a series of tough compromises. Both 59, they live in Qualicum Beach, B.C., a five-minute walk from the Strait of Georgia on Vancouver Island. They enjoy the mild weather, long walks on the beach and their beautiful home.

Trouble is, a lack of employment income combined with debt stalk the good times they thought they would have after they left their careers.

To read the full article click here.

Your golden years should be just that.

Last week John McCrank of Reuters provided an interesting report about what it’s like to retire in Canada. If it’s any solace in these tough times, McCrank tells us we are considerably less stressed out about retirement than Americans. In fact, he says the reality of retirement is far closer to expectations in Canada than it is to expectations in the United States.

McCrank is not just cranking out a general observation. His findings are based solidly on a recent TD Bank Financial Group survey, which showed that, “In Canada, 70 per cent of retirees say their post-working life is exactly, or mostly, what they thought it would be … In the United States, that number falls to under 50 per cent.”

Frank McKenna, Deputy Chairman at TD and former Canadian Ambassador to the United States, tells McCrank tough times have not hit Canada with the same brute force they have hit America. The recession, unemployment and stresses on housing markets have been much less severe here at home.
 
Well, I say thank heaven for that. But there is another matter I would like to introduce to the discussion. Namely, while it’s reassuring to know that lots of current Canadian retirees are getting along well, what about the many millions of us who have not yet retired? What for example might the future hold for the big wave of baby boomers who will be coming into retirement soon?
 
Among this group, those who have dutifully saved money over the years through smart, solid investments such as RRSPs will fare well. Those who have not managed their money intelligently might have to seek support from family and/or friends, and even look forward to extended years of work.
 
That can take the gleam off of anyone’s golden years. Indeed, I hate to be a party pooper amid positive news about Canadian retirees, but it would be remiss of me not to point out that for a number of years now far too many Canadians have been boxing themselves into financial corners. Through 2009, consumer debt in this country continued to be widely disproportionate to our ability to comfortably sustain the burden.

At Credit Canada, we see the results of this gap in the many desperate souls who seek our help through the credit counselling and debt management programs we offer. I can tell you that stresses associated with unwieldy debt loads are increasing dramatically these days. So we are redoubling efforts to educate people about the whys and wherefores of smart personal money management, and that includes saving for the long term.

As we like to say, retirement ought to be the best paying job in the world. But it takes wisdom, and real effort, to make it so.
 
McCrank performs what amounts to a public service when he points out, “Respondents on both sides of the border – 32 per cent in America and 28 per cent in Canada – said one of their biggest mistakes in planning for retirement was that they didn’t start saving until they were over 40 years old.”

He goes on to quote Patricia Lovett-Reid, senior vice president at TD, on what it means to spend wisely in life.

“It’s all about living within your means. It’s not about keeping up with the Joneses, because they are broke,” says Lovett-Reid, who notes “the biggest challenge when planning for retirement is keeping or getting debt levels under control. The other key is to make a back-up plan, and that means saving early and saving often.”

Now there is advice that’s as good as gold.