WE have heard many stories of how individuals, their families, relatives and even friends became victims of loan shark threats and vandalism. While the terrifying acts by loan sharks are shocking, what is equally appalling is the amount of money demanded.

Financial woe is a problem many individuals face. With limited income and escalating prices of basic necessities, few could claim to be unaffected.

When the going gets tough, succumbing to loan sharks is the last thing anyone should do. Taking an alternative route, what about going online for some advice on financial management?

A good place to start is www.msn.com. Here, you can find the Debt Evaluation Calculator once you access the Debt Evaluator link listed under the topic called Planning. Using the Debt Evalution Calculator, you can key in your income and list down your expenses. The calculator will churn out the general result, stating if your current expenditure pattern is manageable or otherwise.

Other personal financial management tools available are Debt Consolidator Calculator, which helps you to determine how much you can save by consolidating your debt, and Savvy Spending Quiz, which can shed some light on whether you have a spending problem.

Another Web site, www.yahoo.com, also hoards valuable personal financing advice. Point your browser to http://finance.yahoo.com and click on the Personal Finance tab. There are a number of how-to guides, calculators and expert advice on how to manage your money under the topic called Banking & Budgeting.

While these Web sites may seem to have tools channelled towards a global audience, there are local-based Web sites that may be more suited for Malaysians. One fine example is www.bankinginfo.com.my. On its main page are tabs such as Plan Your Finances, Know Your Products and Help & Advice, all of which contain useful information that consumers should have when dealing with financial institutions.

Under Plan Your Finances, links that should make interesting reads are Managing Your Money, Investing Your Money and Managing Your Debt.

Plus, Help & Advice has one of the most useful articles entitled Becoming a Guarantor, which highlights the obligation that one commits to when

signing up as another’s guarantor.

The Credit Counselling and Debt Management Agency Web site at www.akpk.org.my is another good option. It provides help to Malaysians seeking advice and counselling on money matters. Money management, credit counselling, education and loan restructuring services are offered to users for free.

The agency’s approach is head-on: For individuals who want assistance in managing their debt, they need to complete and submit an application form with documents such as payslips and credit card statements for the agency to understand their current financial condition. With this information, the agency will help them identify the options available and even collaborate with borrowers and banking institutions.

Even if you are not a customer of regulated financial institutions (read: if you have borrowed from loan sharks), you can still approach the agency for counselling at its toll-free number: 1-800-882-575.

Sorting out money problems might be tough and embarrassing for some. But admitting that you need help is a brave step to make, and online financial tools are readily available at your disposal.