PH Consulate General in Toronto Holds Online Seminar on Money Management, Budgeting

Philippine Consul General to Toronto Orontes V. Castro (second row, second from left), with Maria Guiao (first row, rightmost), Elena Jara (third row, rightmost), and officials of the Philippine Consulate General in Toronto, POLO-Toronto, OWWA-Toronto, Pag-IBIG Fund and Filipino-Canadian Community House during the Online Seminar on Money Management and Budgeting on 06 August 2020. (Toronto PCG photo)

TORONTO 12 August 2020 – The Philippine Consulate General in Toronto, led by Consul General Orontes V. Castro, partnered with the Filipino-Canadian Community House, led by its President, Maria Guiao, in holding the Online Seminar on Money Management and Budgeting via Zoom on 06 August 2020.

Credit Canada Debt Solutions Inc. Education Director Elena Jara was the resource speaker for the event.  Philippine Overseas Labor Office (POLO) Toronto officials and staff, Pag-IBIG Representative Elizabeth Borres and members of the Filipino community also participated in the online seminar.

Ms. Guiao welcomed the participants and emphasized the seminar’s applicability in the workplace and for personal purposes.

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

For more information, visit https://www.torontopcg.dfa.gov.ph, https://www.philcongen-toronto.com or https://www.facebook.com/PHinToronto/.