Youths have been warned to stop their impulsive shopping habits, failing which they will add themselves to those who have already been made bankrupt. Financial adviser Bryan Zeng was commenting on the Department of Insolvency statistics, which recorded a total of 31,140 individuals aged 35 and below who have been registered as bankrupt from 2014 to May 2023. The Malaysian Association of Borrowers and Consumers Solution also said it receives an average of 15 complaints daily from youths who have been made bankrupt.
Calling on the government to address the problem, Zeng said among the main reasons for youth bankruptcies is the lack of financial literacy and insufficient discipline in managing
their finances. (Pic) More youths will go bankrupt if they do not kick their impulsive shopping habit. SYED AZAHAR SYED OSMAN THESUN
