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Early financial education for the benefit of youth 14 Mar 2021 / 22:43 H.
EVER since the pandemic has taken a toll on the world economy, talks about financial literacy have been going around more frequently, given the challenging situation involving livelihoods and the critical need for people to have sufficient savings to survive rainy days. This particularly points at youths, who have become more vulnerable economically, and more concerning is their low level of financial literacy. Hence, this calls for practical action plan, and it needs to start from the core foundation of the society – education.
A study conducted by the Organisation of Economic Cooperation and Development (OECD) on 26 countries, including Malaysia, has shown that overall, financial literacy is already at its low. Specifically, youth aged 18 to 29, financial literacy appears to be at a lower level, on the back of poor financial knowledge and less prudent financial behaviour.
21 Feb 2021 / 20:48 H.
IN weathering the unprecedented pandemic crisis which does not appear to be ending anytime soon, people are trying to search for all avenues to make ends meet.
This includes the decision to use up savings under the Employees Provident Fund (EPF) which have been reserved for retirement. Although it is undeniable that empathy for the unfortunate is crucial during these trying times, there still needs to be control or vigilance over this initiative.
As known to nearly all, the idea of one-off withdrawals from EPF Account 1 started last year when it was mooted by some politicians.
It was considered and announced during the tabling of Budget 2021 as i-Sinar but implemented on a targeted basis, only for those who lost their jobs – RM500 per month with a total up to RM6,000 over 12 months.
Continue to help people get, retain jobs
EFFORTS to reduce the high number of unemployed in Malaysia affected by the Covid-19 pandemic are ongoing.
As reported by
The Edge Markets, the government is confident of achieving its lower unemployment rate target of 3.5% this year despite the imposition of the latest movement control order (MCO). It is estimated by the National Employment Council (NEC), whose formation was announced during the tabling of Budget 2021, that more than 160,000 new jobs would be created.
The NEC Special Task Force is said to have rolled out strategies to tackle issues of unemployment and skills mismatch, which has led to underemployment especially among graduates.
More cash transfers to help the needy 09 Feb 2021 / 19:30 H.
DURING this difficult time, people are doing their best to make ends meet while trying to save for a rainy day.
Unfortunately, the current economic environment, which is influenced by supply and demand, such as rising food prices, is not helping to ease their burden.
One way to go about this in the near term is for government to provide additional cash assistance.
A survey conducted by the Malaysian Institute of Economic Research (MIER) in the fourth quarter of last year (4Q’20) and reported in a daily, shows that around 65% of respondents expressed their worries over expectations of inflationary pressures, especially among rural folk.