Advisories & News
Press Release
Online Seminar on Money Management and Budgeting
2020-08-12
10 Aug 2020 – PCG Toronto officials and staff, led by Consul General Orontes Castro, partnered with the Filipino-Canadian Community House, led by its President, Maria Guiao, to hold an online Seminar on Money Management and Budgeting on 6 August 2020. Ms. Elena Jara, Director of Education, Credit Canada Debt Solutions Inc., was the Resource Speaker for the event. The other participants of the online seminar conducted via ZOOM were POLO Toronto officials and staff, Pag-Ibig Representative Elizabeth Borres and members of the Filipino Community.
Ms. Guiao welcomed the participants and emphasized that the seminar is very useful for everyone as it is applicable for personal purposes and in the workplace.
Consul General Castro, in his remarks, thanked the participants for joining the seminar and stated that the event is very timely considering the difficulties faced by everyone due to the ongoing COVID-19 pandemic and the relevant advice that can be gathered by the participants on the efficient use of resources.
Ms. Jara’s discussion covered the importance of understanding a Credit Report and the factors underlying the credit scores such as Payment History, Credit Utilization, Length of History, Account Mix and Inquiries. She stated that during the COVID-19 pandemic in Canada, lending institutions allowed borrowers to defer payments on loans but their credit utilization still remained high. She also discussed the importance of securing credit cards or loans that charge low interest rates as this would effectively help consumers minimize their future payments. The seminar also covered important financial information that would be very helpful for newcomers to Canada. -END
