PETALING JAYA: Despite its launch last year, awareness of the the National Strategy for Financial Literacy 2026\u20132030 (NS2.0) initiative is lacking among young Malaysians.<\/p>\n
Marketing executive Catherine Leong, 24, said she was not aware of the initiative, and relies on reputable social media sites for information on managing her finances.<\/p>\n
\u201cI usually follow credible financial pages on social media to learn about budgeting and saving.<\/p>\n
\u201cThey often share simple tips that are easier for young people to understand,\u201d she said.<\/p>\n
Leong said she tries to keep track of her spending to ensure she has sufficient money to cover her monthly commitments.<\/p>\n
\u201cI am even able to save some money and have some left at the end of the month despite paying bills, insurance and daily expenses.\u201d<\/p>\n
However, Leong noted that daily transportation is one of her biggest financial challenges.<\/p>\n
\u201cExpenses such as petrol and vehicle maintenance add up quicly.\u201d<\/p>\n
She believes more awareness campaigns could help young Malaysians develop better financial habits.<\/p>\n
\u201cI also think financial management should be taught in schools so young people learn these skills earlier,\u201d she suggested.<\/p>\n
A 29-year-old customer service worker who only wanted to be known as Mr Chan admitted that he had never heard of financial strategies.<\/p>\n
Chan said he struggles with controlling his spending habits which is affecting his financial stability.<\/p>\n
He said that impulse purchases put pressure on his monthly budget.<\/p>\n
\u201cSometimes I buy things without really thinking about whether I need them.<\/p>\n
\u201cAt the end of the month, I realise I had spent more than I should have.\u201d<\/p>\n
Chan added that he is juggling his finances and is currently repaying a personal loan taken to settle previous debts.<\/p>\n
\u201cIt feels like I\u2019m trapped in a financial hole because I\u2019m trying to clear my debts while still managing daily expenses,\u201d he said.<\/p>\n
Electrical engineer Lee Jiuan, 29, also said he had not heard of NS2.0 inititative and relies on advice from his parents or online sources for financial guidance.<\/p>\n
He described managing his finances as something \u201c50-50\u201d.<\/p>\n
\u201cI\u2019m able to pay most of my bills on time but there isn\u2019t much left to save after covering daily expenses and rent,\u201d he said.<\/p>\n
Lee said rising cost of living costs and inflation have made it harder for young workers to save.<\/p>\n
\u201cMost of my budget goes towards daily expenditure,\u201d he said.<\/p>\n
Rescue mission<\/p>\n
Flood relief personnel helping evacuate residents at Kampung Beliajung in Kota Marudu, Sabah. Nearly 400 people were evacuated from low-lying villages in the area following floods triggered by heavy overnight rain in the northern part of the state.<\/p>\n","protected":false},"excerpt":{"rendered":"PETALING JAYA: Despite its launch last year, awareness of the the National Strategy for Financial Literacy 2026\u20132030 (NS2.0)…\n","protected":false},"author":2,"featured_media":332650,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[114,268,85,46,4976,266,267],"class_list":{"0":"post-332649","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-personal-finance","8":"tag-business","9":"tag-finance","10":"tag-il","11":"tag-israel","12":"tag-na","13":"tag-personal-finance","14":"tag-personalfinance"},"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/332649","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/comments?post=332649"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/332649\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media\/332650"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media?parent=332649"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/categories?post=332649"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/tags?post=332649"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}