PETALING JAYA: It is not uncommon data that many senior residents remorse not arming themselves with monetary data of their youthful years, says Finance Minister Tengku Datuk Seri Zafrul Abdul Aziz.

“Many senior adults remorse their unfavourable perspective in the direction of cash, and their lack of monetary data after they have been younger,” he mentioned in a message on the opening of a monetary planning workshop that’s a part of the outreach actions of the Malaysian Monetary Planning Council (MFPC) yesterday.

Tengku Zafrul mentioned one of many essential essential elements to make sure monetary well-being is to plan one’s funds early in life, and he additionally highlighted how the notable Warren Buffett began investing on the tender age of 10 years.

“The goal of this programme is to enhance the monetary literacy of younger adults.

“With the programme, the monetary well-being of younger adults might be elevated,” he mentioned in a pre-recorded message initially of the occasion, MFPC’s first digital workshop of the 12 months below the “My Cash & Me” sequence.

The workshop was held along side International Cash Week 2022, an annual worldwide marketing campaign of the Organisation for Financial Co-operation and Improvement (OECD) that’s recognised as a nationwide initiative.

Taking up the theme of Construct Your Future: be good about cash!, the schooling classes encourage younger adults to look by means of the Price range 2022 portal for extra data on monetary help ready for them specifically by the federal government.

“The programme is not going to be a one-off studying (session) as MFPC has launched an elearning portal with free entry on the occasion website for all wanting to achieve monetary data.

“This initiative meets the general public coverage suggestions in MFPC’s 2021 examine, Determinants of Monetary Wellbeing Amongst Younger Adults in Malaysia,” mentioned Tengku Zafrul.

The “My Cash and Me 2022” programme revolves round primary monetary literacy, which is a collaboration involving stakeholders reminiscent of Financial institution Negara Malaysia, the Securities Fee Malaysia, Ombudsman for Monetary Providers (OFS), the Securities Trade Dispute Decision Centre (Sidrec), the Staff Provident Fund, the Counselling & Credit score Administration Company (AKPK), Life Insurance coverage Affiliation of Malaysia (Liam), Malaysian Takaful Affiliation, Federation of Funding Managers Malaysia and the Inland Income Board.

The workshops cowl subjects that embody asset safety, asset accumulation, asset administration, and asset distribution.

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