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Following the launch of the new look and contents of the IEC website (www.hkiec.hk), the Investor Education Centre (IEC) also launched its second set of interactive tools – IEC Debt Calculator and IEC Cut-back Calculator to help you manage their budgeting and personal debts.

Designed to give an overview of all personal debts including credit cards and personal loans , the IEC Debt Calculator provides you with tips and options to help you manage your debts effectively. The Calculator shows repayment scenarios with different repayment amount, repayment period and annualised percentage rate to facilitate your review and comparison; and works out the debt servicing ratio to measure the burden of debt over your income.

The interactive Cut-back Calculator helps you prioritise their “needs” and “wants” and look for any non-essential expenses you can cut to save money. It shows the total amount that can be saved per year if cut back as well as the percentage to your annual income to facilitate your review and decisions. This Cut-back Calculator supplements the IEC’s existing Budget Planner by encouraging you to conduct a full review of all their expenses for better money management.

Furthermore, the IEC has published two booklets, Financial Planning and Managing your Money, Credit and Debt, to support the public in their learning and actions.

Financial Planning serves as a quick reference guide for the public to understand the concepts of financial planning and to get started with a basic financial plan. Meanwhile, Managing your Money, Credit and Debt provides checklists, tips, case studies and guidance on how to better manage one’s personal finance holistically.

The public can request a copy of the booklets by calling 2700 6000 or download it from the IEC website (www.hkiec.hk).