AN astounding 10,378 people thats the number of young Malaysians who were declared bankrupt between 2018 and September this year.
Over 20% of the 47,929 persons declared bankrupt during the period were under the age of 34; 10,138 were aged between 25 and 34; while those under 25 make up 240 bankruptcy cases, according to statistics from the Insolvency Department website.
Youths, said Universiti Malaya Faculty of Business and Economics Assoc Prof Dr Aida Idris, need to manage their finances efficiently to avoid bankruptcy.
Many youths today are chasing an extravagant lifestyle. Avoiding wastage and unnecessary expenditure is important, she told StarEdu.
Aida warned that pursuing the lavish lifestyles often portrayed on social media is n…
Read the full article at: https://www.thestar.com.my/news/education/2022/11/27/young-and-broke