OTTAWA – A “Financial Toolkit,” released by Ottawa strives to help Canadians save and spend responsibly.

The federal government said it can help Canadians manage their finances better, amid their busy lives.

Minister of State for Finance Ted Menzies said the toolkit will better equip Canadians to handle everyday financial questions and “make sure that they do understand the debt they carry.”

“With the right knowledge, along with clear and transparent information, busy soccer moms and hockey dads will be able to easily make those decisions,” he said.

With Canadian debt loads rising to startling highs, Menzies said the toolkit will help Canadians curb the trend, adding it will aid the country’s economy, too.

According to a recent survey, 90 per cent of respondents would consider borrowing money to cover an unexpected cost. LINK

Ursula Menke of the Financial Consumer Agency of Canada said the toolkit provides resources on a variety of financial matters, including mortgages and fraud prevention.

She said the toolkit, available online and in print, includes worksheets, quizzes and multimedia presentations that are “reliable, unbiased and easy to use.”

The toolkit was developed in partnership with the federal agency and the Investor Education Fund and l’Autorite des marches financiers.

The average household debt stands at 152 per cent of disposable income.