(NC) Spring is a time for renewal, and that can mean renovating or buying a new family home. It’s also a good time to review your finances.

Before you take on any big spending or more debt, such as a mortgage or renovation, it’s important to set financial goals and manage your existing debt.

Many Canadians have various forms of debt. When taking on new costs, whether it’s your home or a trip or something else, you want to look at the big picture.

Fortunately, the Financial Consumer Agency of Canada has an easy-to-use Financial Goal Calculator to help you create a realistic plan. The tool helps you make a plan to get out of debt or save for other priorities, such as education, a down payment, a house renovation, a vacation, an emergency fund and more.

Before you use the calculator, gather some recent information, either in paper format or online. This could include credit card statement(s) for each credit card you have; line of credit statement(s); loan agreement(s), such as those for your car loan, student loan, etc.; and mortgage agreement(s).

“Having a plan gives you the confidence to manage your money and helps you feel in control of your finances. We have many free tools to help consumers,” says Jane Rooney, Canada’s Financial Literacy Leader.

These include budget and mortgage calculators, bank account and credit card selector tools, and more. There’s also the Canadian Financial Literacy Database with more than 1,300 resources and events from different organizations to help you budget, manage debt and save.

Find more information online at itpaystoknow.gc.ca.