The Globe has made a point this year of advising Canadians on how to spend their money in a sensible and responsible manner, and so we read in their website that:

With 2009 slated to go down as a tumultuous time for your money, 2010 could prove to be the year when Canadians put their financial house in order – provided they can get their balance sheets under control.

Heading into the new year, debt is the biggest financial hurdle for many families, says certified financial planner Bradley Roulston, a manager of the Nelson & District Credit Union in British Columbia.

“Household debt – mostly mortgages and consumer debt – has increased to record levels. And with interest rates bound to go up, people need to make sure they have enough cash flow to sustain a few percentage [point] increases on their payments.”

The debt-to-income ratio among households hit a record this year. The latest Statscan report showed that for every $100 of personal disposable income, Canadians are carrying $145 in debt, up sharply from $88.60 in 1990. The ballooning debt comes at a time when the Bank of Canada is warning of higher interest rates.

But then, in the very same website, in what it may appear to be totally contradictory, we find the advice of Angela Self, one of the founders of the Smart Cookies money group, who advises to stop feeling guilty for past splurges because “is so 2009“:

The first step is to lay out your financial objectives in definite terms. Ask yourself: What do I really want? Write your response down in present tense and positive terms, and make it specific. This isn’t an exercise in taking mental notes or scribbling out sweeping statements like “make more money.” Detail the exact amount of dough you’d like to see, the date you want to start receiving it and the action steps necessary to get it done. The latter is key, and best broken down into small, tangible tasks you can work toward every day.