KUALA LUMPUR, Aug 21 (Bernama) -- In the Council’s efforts to help youth’s in Malaysia acquire financial literacy especially during this Covid-19 pandemic, the Council’s My Money and Me programme, is being organised virtually through a multi-stakeholder approach. Our collaborators include the Securities Commission Malaysia, CGS-CIMB, Federation of Investment Managers Malaysia, Inland Revenue Board, Agensi Kaunseling & Pengurusan Kredit and Bursa Malaysia Islamic. Central to MFPC’s existence is collaboration, allowing the Council to map a way forward to fund these programmes. The Council is extremely pleased that this programme has the endorsement of the regulators and the support of Malaysia’s Ministry of Youth and Sports. In addition, the Financial Education Network (FEN) recognises the programme as one of the initiatives of the Government’s five-year financial literacy strategy. The slightly over 4-hour programme will enable prospective youths to be equipped with basic literacy knowledge.
 
The core objective of the programme is to help youths make better financial decisions, as data indicates youths in Malaysia lacks successful money management knowledge. MFPC is convinced that a course on managing personal finance will help improve their literacy levels and induce their confidence level. Importantly financial behaviour changes will be the only determinant for youths to experience financial well-being. The number of Youths in Malaysia is 13.9 million representing 45.8% of the total population and hence their money management ability will be an important factor of uplifting their quality of life.
 
President of Malaysian Financial Planning Council, Vincent Kwo, said many youths in Malaysia rarely practised basic financial skills, such as budgeting or developing a regular savings plan and as such they are unprepared to effectively manage financial anxieties. “In the National Commissioned study on Financial Capability 2020, findings of which were recently published”, financial unpreparedness of youths has once again been made evident,” he said. Youths have heightened curiosity and should be advocated with having a mindset to be successful in investing-insignia etched into their lives.

MFPC’s My Money & Me programme has received UNESCO’S honourable commendation. The award honours MFPC, whom, in addition to achieving outstanding progress in conventional financial planning education, is making significant and lasting social impact for the various target groups this programme is organised for. MFPC is poised to make a difference in the lives of individuals, helping to enhance their upward mobility and create lasting and positive change in lives of more individuals with clear coordinated collaboration with our partners in the year 2020 through these series of programme.
 
 

Interested youths could sign up and obtain more details of the programme at https://www.gokelas.com/course/mymoney/