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Free Malaysia Today
08-07-2025
- Business
- Free Malaysia Today
6 finance and investment resources for young Malaysians
Check out these five local resources, plus one from the US, that can help you kickstart your way to financial freedom. (Envato Elements pic) In today's world of endless knowledge, it can be hard for young Malaysians to identify relevant financial and investment resources from which to learn. This isn't easy even for parents, uncles and aunties who want to mentor the younger generation. According to the Securities Commission (SC) Malaysia, young people cite the following as the biggest barriers to investing: Risk appetite (cited by 82% of respondents): concerns over investments being high-risk; frauds and scams; losing money. Well-being and accessibility (74%): not enough money to invest, lack of time and financial education. Knowledge (69%): lack of know-how or reliable sources of this in mind, here are seven finance and investment resources online that could be useful for young Malaysians. 1. Financial Education Network (FEN) The Financial Education Network could be the best resource with which to start. The interface is accessible and interactive as it first asks you which life stage you are at – student, youth, adult, or retiree. From there, you can decide on which financial objective you'd like to learn about. For example, by choosing 'youth', you are then able to select from 'earn', 'save', 'manage', 'grow', 'protect', or 'business'. Each option brings you to a list of resources you can refer to. Note that FEN is more of a gateway that connects you to relevant websites and organisations that have content. It also has some engaging and informative infographics on personal finance. 2. Belanjawanku by EPF This publication by the Employees Provident Fund (EPF) provides estimates of monthly spending on various goods and services to achieve a 'reasonable' standard of living in major cities in Malaysia, by family size. These goods and services include: food; housing; healthcare; utilities; childcare; personal savings; adhoc; social participation; transportation; and personal care. By providing guidance on what spending should look like, Belanjawanku is a good reference point for young Malaysians to plan their current and projected expenses and income, and to initiate conversations regarding career path, investments, budgeting, goal setting and so on. 3. RIA by EPF While retirement is very far away for young people, it is a very important topic to think about. According to the Khazanah Research Institute, many young Malaysians in the workforce are unprepared and unable to save for their retirement. The Retirement Income Adequacy (RIA), set to be published by EPF in January 2026, will set out targets in Malaysians' EPF accounts to achieve the following savings amounts by age 60: adequate savings: RM650,000; basic savings: RM390,000; enhanced savings: RM1,300,000. The publication also provides a table that lists how much young adults should ideally save for retirement: The power of compounding is your friend. By being aware of retirement figures, youngsters can better plan their finances so as to take into consideration the amounts they ought to set aside. The earlier they begin, the less demanding the sum, especially as they harness the power of compounding. 4. Kelab Pelaburan Bijak (KPB) by ASNB For teens in secondary school who are keen to learn more about their personal finances, KPB could be a good place to go. The programme, established by Amanah Saham Nasional (ASNB) and available in many schools in Malaysia, is like a co-curricular club that exposes students to personal finance and investments. According to the SC, 51% of youths consider talks and seminars to be the most effective in learning. As such, a club in school can help students gain access to such events as well as online resources. However, not every school has a KPB. Check the website for more details, and do talk to your child's school principal or parent-teacher association to get conversations rolling. 5. Invest Smart by the SC Invest Smart was established by the SC in 2014 to help everyday folks learn more about investments, particularly scams. It offers several ways of delivering information that could be appealing to young adults: infographic visuals – mainly about the latest scams and how to avoid them, such as the one below; videos, primarily anti-scam content; webinars and podcasts, specifically 15-series podcasts about investments in Malaysia. (Invest Smart pic) Fun fact: Invest Smart recently collaborated with local comedian Douglas Lim to talk about anti-scam topics! 6. Money Smart by the FDIC This US government financial literacy programme is targeted at young adults and run by the Federal Deposit Insurance Corporation. Money Smart is free and consists of 12 personal-finance modules applicable to almost everyone regardless of country. These are: banking; setting goals and making financial decisions; making the most of your income; your spending and saving plan; saving for your goals and future; building your credit history; borrowing basics; charge it right (credit cards); protecting your money and identity; buying a car; paying for education and training; and living on your own. If you are the parent of a teen or young adult, consider sharing these resources with them to further develop their financial knowledge. Initiate conversations and get them to talk about what they are learning. Who knows, you might learn a new thing or two, too! This article was written by Su-Wei Ho for MyPF. To simplify and grow your personal finances, follow MyPF on Facebook and Instagram. Read more articles from MyPF here.
Borneo Post
07-07-2025
- Business
- Borneo Post
Longest non-stop financial literacy livestream in Malaysia
mySalam celebrating a record breaking moment after 24-hour public engagement on Financial Literacy through TikTok LIVE. TAWAU (July 7): mySalam, Malaysia's national takaful protection scheme for the B40 community which is fully managed by Great Eastern Takaful Berhad (GETB) together with Financial Education Network (FEN), made history with a successful digital initiative; a 24-hour Non-Stop Financial Literacy Session on TikTok LIVE, held in conjunction with the Karnival Celik Kewangan (KCK) Tawau from July 5 to 6 at Eastern Plaza, Tawau. This extraordinary digital engagement was officially recognised by the Malaysia Book of Records as the 'Longest Non-Stop Financial Literacy Livestream in Malaysia', setting a new national benchmark for inclusive, digital-first financial education. Branded as Misi #24JamBijakWang, the TikTok LIVE session was spearheaded by mySalam and Financial Education Network (FEN), with TikTok Malaysia as the official digital partner and supported by the Malaysian Takaful Association (MTA). The 24-hour duration was strategically chosen to maximise its outreach to wider community segments, from youths to seniors and day workers to night-shifters. This initiative affirms that financial literacy is no longer a luxury, but a necessity. According to Syuhaib Ithnin, head of mySalam at Great Eastern Takaful, Misi #24JamBijakWang was never just about setting a record. 'People think that financial topics are boring, but after continuous livestreaming on TikTok LIVE, we managed to gain over 3.2 million likes, 12 thousand comments, and more than 17,000 visitors in just 24 hours.' 'By embracing a digital-first approach, we may alter traditional perception, making financial education more inclusive and engaging. Through casual, relatable delivery methods, interactive content, and exciting incentives, we have demonstrated that financial literacy is not a luxury reserved for the privileged, but a fundamental right for all. This initiative is more than just a campaign, it's a movement. It empowers individuals to make informed financial decisions, fosters resilience against economic challenges, and builds a foundation for long-term financial well-being. We are proud to be at the forefront of this transformation, and we remain committed to set a benchmark for others to follow,' he added. Quoting Deputy Governor Adnan Zaylani Mohamad Zahid at the launch ceremony of the Karnival Celik Kewangan (KCK) Tawau 2025 on Saturday, 'This carnival is not merely a gathering or an exhibition. It is a strategic platform that brings together various parties – government agencies, financial institutions, academics, civil society organisations and the local community to join forces in empowering the public with relevant and practical financial knowledge. With strong community support and the momentum from the carnival, the Financial Education Network remains committed to expand its reach and impact throughout Malaysia. It also opens up opportunities for the public to access reliable information, learn about available support channels, and ask questions directly to experts without feeling shy or afraid.' Throughout the 24-hour livestream, more than 24 guest speakers harnessed TikTok LIVE's interactive features to deliver real-time financial advice directly to the audience in an authentic and fun way, addressing questions in the comments. Among the topics covered included financial scams, takaful protection, basic investing, tax planning, debt management, and household budgeting strategies, all curated to be practical, relatable and easy to understand. To sustain momentum and encourage participation, the initiative also featured the FinTok Challenge; a fun, hourly interactive contest on TikTok LIVE that awarded 24 winners with a total of RM24,000 cash prizes. 'At TikTok we are committed to building a safe platform where creativity and free expression can thrive, while also igniting meaningful conversations, learning at scale, and empowering communities,' said Firdaus Fadzil, Head of Public Policy of Malaysia at TikTok. 'Our partnership with mySalam is a great testament of how organisations can harness the reach and immediacy of our platform to raise awareness on key topics among Malaysians and drive a lasting positive impact on society.' The success of this initiative reflects how financial education can evolve with modern digital lifestyles. It also marks a strong and continued commitment from the organisers to explore innovative, people-friendly approaches in delivering financial literacy to all, from those at the urban areas to the furthest communities. For more information, follow the official TikTok account at @
The Sun
06-07-2025
- Business
- The Sun
Agrobank launches RM50m AgroPintar to support microentrepreneurs
PETALING JAYA: Agrobank has launched the Agro Pintar Niaga Programme (AgroPintar), an initiative designed to empower microentrepreneurs through a combination of financing, i-Tekad grant matching and structured entrepreneurship training to help them manage and grow their businesses sustainably. Group president/CEO Tengku Datuk Ahmad Badli Shah Raja Hussin said, 'AgroPintar is a holistic programme that offers not just financing and i-Tekad grant matching, but also essential modules on entrepreneurship and business ethics. 'It places strong emphasis on financial literacy, covering areas such as financial management, credit risk control and debt management. The ultimate goal isto enhance the competitiveness and decision-making capabilities of microentrepreneurs to help them make more effective business decisions,' he added. Ahmad Badli Shah said Agrobank has allocated RM50 million to facilitate microfinancing access through the programme, alongside an additional RM5 million in i-Tekad matching grants. 'The programme will support microenterprises through business and contract farming financing schemes, aiming to benefit more than 4,000 qualified microentrepreneurs, particularly from low-income communities.' 'We believe this initiative will not only drive positive economic outcomes but also foster social development among microentrepreneurs,' he said, adding that through structured guidance, participants will be equipped with the knowledge and tools to make sound financial and business decisions, ultimately improving their capacity to manage various aspects of their businesses efficiently. Agrobank will monitor the programme's impact and effectiveness six months after participants join. The AgroPintar Programme is spearheaded by Agrobank's Centre of Excellence and Microfinance Division, reflecting Agrobank's ongoing commitment to empowering microentrepreneurs across Malaysia. At the same event, Agrobank also launched a financial literacy video series developed in collaboration with the Financial Education Network. The 12-episode series features popular social media influencer Sir Asai. This initiative is tailored to promote financial awareness among school students using fun and accessible content. It aims to instil healthy financial habits through the 3S approach – Spend, Save and Share – encouraging the younger generation to adopt responsible money management from an early age.
Borneo Post
06-07-2025
- Business
- Borneo Post
Carnival strengthens financial literacy outreach in Tawau
BNM Deputy Governor Adnan Zaylani Mohamad Zahid stopping at one of the 21 exhibition booths during his walkabout at Karnival Celik Kewangan Tawau. TAWAU (July 6): The Financial Education Network (FEN) successfully hosted its flagship Karnival Celik Kewangan (KCK) in Tawau for the first time on July 5 and 6. The event brought together more than 6,000 visitors offering a range of engaging and practical activities designed to promote financial literacy and empower communities to better manage their finances. The event was officiated by Adnan Zaylani Mohamad Zahid, Deputy Governor of Bank Negara Malaysia (BNM) and Co-Chair of the FEN, who emphasised the growing importance of financial literacy in today's economic and digital landscape. 'With the many economic uncertainties, and the fast pace of technological change, managing one's finances is no longer a luxury – it is a necessary life skill that underpins the stability of individuals, families, and communities,' he said. A key feature of KCK Tawau was a 24-hour financial literacy livestream on TikTok, jointly organised by mySalam, FEN, and the Malaysian Takaful Association (MTA), with a total of 3.2 million likes and 12,000 comments within 24 hours. The livestream offered continuous, interactive content on a wide range of financial topics, reaching new audiences and making financial education more accessible and more relatable. This initiative obtained recognition in the Malaysia Book of Records. In line with the event's holistic approach, KCK also featured the MTA Takaful4All Fun Run, aimed at promoting not only financial health but also physical well-being. The run drew strong participation from 570 local community members, reinforcing the message that a secure future depends not just on smart money management, but also on taking care of one's health. KCK Tawau marked the finale of a week-long financial literacy roadshow across various localities in Sabah, including Lahad Datu, Kunak, Pulau Bum Bum in Semporna and Tawau. These engagements allow FEN to provide practical financial guidance – on budgeting, insurance and takaful, debt management and consumer protection – while also gathering valuable feedback on the unique financial challenges faced by local communities. These insights will help shape future outreach and targeted interventions to strengthen financial resilience in the region. The success of the KCK Tawau is a testament to the tireless efforts and collaboration of FEN members, associate members and partners. From content development to community engagement, the team demonstrated its commitment to delivering relevant, accessible, and meaningful financial education. 'KCK Tawau reflects what FEN stands for – bringing financial literacy to life in ways that are practical, inclusive and people centred. The FEN remains committed to ensuring efforts to empower the rakyat are carried out inclusively and continuously,' added Adnan. Established in November 2016, FEN serves as an inter-agency platform to increase the impact of financial education initiatives and identify new opportunities to elevate financial literacy among Malaysians through greater alignment, closer collaboration and a strong focus on impact assessments. Its members include the Ministry of Education, Ministry of Higher Education, Bank Negara Malaysia, Securities Commission Malaysia, Employees Provident Fund, Agensi Kaunseling dan Pengurusan Kredit, Perbadanan Insurans Deposit Malaysia and Permodalan Nasional Berhad.
The Star
17-06-2025
- Business
- The Star
Bank Negara plans to make Financial Education Network Proaktif mandatory for youth
Bank Negara deputy governor Adnan Zaylani Mohamad Zahid KUALA LUMPUR: Bank Negara Malaysia (BNM) plans to make its money literacy programme, called Financial Education Network (FEN) Proaktif, mandatory for the youth. BNM deputy governor, Adnan Zaylani Mohamad Zahid, said the central bank is looking forward to working with various agencies in encouraging the youth to enrol in this programme. "(We are planning) to make it mandatory or give them credit to undertake this FEN Proaktif financial education programme so that the youth are equipped by the time they graduate or they enter the workforce. "This is to make sure they have sufficient financial literacy, knowledge and skills to face these financial decisions at any moment,' he said. Adnan Zaylani said this during a panel session on the topic, "Securing Youth Financial Future: Enhancing Financial Capability', at the Sasana Symposium 2025, hosted by BNM today. He noted that BNM is currently awaiting responses from the respective ministries regarding its planning and added that: "We will see if the ministries will be reset before that suggestion'. The panel session was also attended by the Minister of Youth and Sports (KBS), Hannah Yeoh, who also addressed alarming data on the number of youth involved with bankruptcy in Malaysia. In 2024, 877 cases of youth declaring bankruptcy were recorded, compared to 727 in 2023, showing an increase of 150 cases within a year. "If you look at the youth population, 9 million, this is a small number, but the trend is a bit scary? It is so easy to buy things and then put them on an instalment plan and then pay later, but when you start accumulating credit card debt, you pay interest, spending money that you do not have,' said Yeoh. Thus, she said amid the growing trend, the MADANI government has amended the Bankruptcy Act, allowing bankrupt persons below 40 who have small debts to be discharged to give them a second chance. - Bernama
