Today newspaper highlighted that more young people are using credit card as source of finance, they overspend and the amount owing to credit card company are increasing. thus there are higher number of young people are bankrupt due to credit card debts.
The above phenomena actually is a result from our existing outdated education system which totally ignore the education on finance (esp personal finance). The end results is the Country produce a lot of young people with/without excellent academic results but mostly weak in managing own finance.
ALL WE SEE & WATCH IN MASS MEDIA IS TO TELL YOU TO SPEND, SPEND & SPEND.
DO YOU NOTICE ANY INFO TO ASK U SAVE & INVEST? ALMOST NONE !
The Govt need to revamp the entire education system by introducing Financial Planning & Investment subjects in school. The current education system only teach the student on subjects like language, maths, science, history, Geography. Why no Financial Planing & Investment? This is so important and it affects our life because we all dealing in 'Cash & Money'.
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