A financial plan can help you prioritize your goals, save money, focus on the bigger picture, and worry less about money, but most of us aren’t working our plan. Recent IEF research shows Ontarians score low on knowledge of financial planning and setting goals. But a larger concern was the wide gap between knowledge and action.

“For the most part, Canadians know that they’re supposed to save for a rainy day, an emergency, a vacation or their retirement.  But they’re not doing it,” says Tom Hamza, president of Investor Education Fund (IEF), a Canadian non-profit organization dedicated to financial literacy and education.

Hamza recommends you put your plan to work using tools and calculators from the IEF to get answers to your money questions:

How much do you need to retire comfortably? Take the Retirement Lifestyle Quiz.

How much will your RRSP be worth at retirement? Check the RRSP calculator.

Should you pay off debt or invest? Use the Pay down debt or invest calculator.

What’s the best way to pay off my debts? Try the Pay off credit cards and debt calculator.

Where should I focus my efforts? Take the Cranial Cash Clash

IEF tools and calculators are available at GetSmarterAboutMoney.ca.