Saturday August 12, 2006
Showing youths how to be financially secure

JOHOR BARU: Young Malaysians need to have good financial planning as there is a high bankruptcy rate among the youth.

A total of 1,280 Malaysians between the age of 20 and 30 were declared bankrupt in 2004.

That was the clear message delivered during the Malaysian Financial Planning Council (MFPC) Financial Planning Road Show themed ‘Youth in the New Era of Financial Planning’ held in Universiti Teknologi Malaysia (UTM) recently.

The road show’s organising chairman Kenny Chong said the road show was aimed at educating the youth on good financial planning for a better future.

“Nowadays, we see fresh graduates and young workers loose money easily and end up being bankrupt.

“We want to show the youth that they can prevent this from being a common trend by planning their finance smartly,” he said adding that prevention was the best solution in avoiding bankruptcy

Participant Zinette Zorzos, said the road show as very informative.

“It was surprisingly very interesting as it did not dwell with figures and data but instead it gave us a lot of alternative if we ever faced financial trouble,” said Zorzos.

Fellow participant Leslie Koh, 19, said his favourite part were the tips to control credit card usage.

“The speakers taught us how to spend more economically and conservatively.