{"id":8848,"date":"2021-03-27T11:57:35","date_gmt":"2021-03-27T03:57:35","guid":{"rendered":"https:\/\/newmalaysiatimes.com\/?p=8848"},"modified":"2021-03-27T11:57:36","modified_gmt":"2021-03-27T03:57:36","slug":"financial-knowledge-planning-vital-in-preventing-bankruptcy-scams","status":"publish","type":"post","link":"https:\/\/newmalaysiatimes.com\/?p=8848","title":{"rendered":"Financial knowledge, planning vital in preventing bankruptcy, scams"},"content":{"rendered":"\n

KUALA LUMPUR, March 27 — The government and its relevant agencies will always emphasize\u00a0the importance of financial knowledge and planning to the people as this can help to avert\u00a0unmanageable debt, bankruptcy as well as various scams.\u00a0<\/p>\n\n\n\n

Finance Minister Tengku Datuk Seri Zafrul Tengku Aziz said the lack of financial knowledge and planning could be a contributing factor to an uncertain future.<\/p>\n\n\n\n

\u201cThrough budgeting, you can avoid excessive spending, unmanageable debt, bankruptcy, and dependence on others,\u201d he said when officiating\u00a0the \u201cMy Money and Me\u201d workshop\u00a0here today.<\/p>\n\n\n\n

Therefore, the minister said, the issue would always remain current given its relevance to everyone at all stages of life.<\/p>\n\n\n\n

\u201cThere\u2019s no age limit for planning finances. It is very much\u00a0encouraged to start planning from an early age so that we can profit from\u00a0the longer period to strengthen our financial situation and build our wealth,\u201d he added.<\/p>\n\n\n\n

\"financial<\/figure><\/div>\n\n\n\n

The International Survey of Adult Financial Literacy 2020 by the Organisation for Economic Cooperation and Development (OECD) found that Malaysia was among the countries that must place importance on financial knowledge to ensure its people understand financial principles and manage money more effectively.<\/p>\n\n\n\n

\u201cMy Money and Me\u201d is a national initiative in conjunction with the Global Money Week 2021 campaign (March 22-28) organised by the OECD International Network on Financial Education with the theme \u201cTake care of yourself, Take care of your money.\u201d<\/p>\n\n\n\n

\u201cThis theme highlights the importance of becoming financial literate in order for you to make rational and responsible decisions in personal financial management throughout your life,\u201d said Tengku Zafrul.<\/p>\n\n\n\n

This year’s \u201cMy Money and Me\u201d programme features speakers from various financial institutions in Malaysia such as the Credit Counselling and Debt Management Agency, Federation of Investment Managers Malaysia, Inland Revenue Board of Malaysia, Bank Negara Malaysia, Securities Commission Malaysia, Life Insurance Association of Malaysia, Malaysian Takaful Association and Malaysian Financial Planning Council.<\/p>\n\n\n\n

— BERNAMA<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

KUALA LUMPUR, March 27 — The government and its relevant agencies will always emphasize\u00a0the importance…<\/p>\n","protected":false},"author":1,"featured_media":8576,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[524],"tags":[],"class_list":["post-8848","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-nation"],"featured_image_urls":{"full":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2021\/03\/Screen-Shot-2021-03-10-at-17.32.24.png",577,318,false],"thumbnail":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2021\/03\/Screen-Shot-2021-03-10-at-17.32.24-150x150.png",150,150,true],"medium":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2021\/03\/Screen-Shot-2021-03-10-at-17.32.24-300x165.png",300,165,true],"medium_large":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2021\/03\/Screen-Shot-2021-03-10-at-17.32.24.png",577,318,false],"large":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2021\/03\/Screen-Shot-2021-03-10-at-17.32.24.png",577,318,false],"1536x1536":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2021\/03\/Screen-Shot-2021-03-10-at-17.32.24.png",577,318,false],"2048x2048":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2021\/03\/Screen-Shot-2021-03-10-at-17.32.24.png",577,318,false],"newsium-slider-full":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2021\/03\/Screen-Shot-2021-03-10-at-17.32.24.png",577,318,false],"newsium-featured":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2021\/03\/Screen-Shot-2021-03-10-at-17.32.24.png",577,318,false],"newsium-medium":["https:\/\/newmalaysiatimes.com\/wp-content\/uploads\/2021\/03\/Screen-Shot-2021-03-10-at-17.32.24.png",577,318,false]},"author_info":{"info":["Editor"]},"category_info":"Nation<\/a>","tag_info":"Nation","comment_count":"0","_links":{"self":[{"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/posts\/8848","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=8848"}],"version-history":[{"count":1,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/posts\/8848\/revisions"}],"predecessor-version":[{"id":8849,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/posts\/8848\/revisions\/8849"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=\/wp\/v2\/media\/8576"}],"wp:attachment":[{"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=8848"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=8848"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/newmalaysiatimes.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=8848"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}