PGSS School of Chemical and Energy Engineering and PGSS School of Computing had organized a coffee talk session entitled:
?10 Financial Sins Among Youth and How to Avoid Them
♦️ Date: 28 June 2021 (Monday)
♦️ Time: 9 am – 11 am (GMT +8)
? Speaker:
Azraei Muhamad
Financial Speaker and Book Author
Nowadays, youth has become one of the most powerful consumer groups, and various marketers are constantly targeting their finance. Lack of proper financial knowledge, they will become an easy target for the marketers. However, without them realize, the more threatening party to their finances is themselves. Hence, some youths may not realize that they are committing financial sins that can lead to the fall of their financial institution in the near future.
It is easy to know where the money comes from, but it is harder to know where it goes. Finance is not full of math and number. You may fall to several risks that could crumble your financial institution with a reckless spending habit. In addition, many situations unknowingly could lead you to financial risk, for example, failing to choose between need and necessity during your spending.
“Risk comes from not knowing what you’re doing” – Warren Buffett.
Based on the statistics presented by Bank Negara Malaysia (BNM), almost 60% of young people were declared bankrupt due to lack of financial literacy. This phenomena occurs based on several possible reasons which includes incompetency of financial management, uncontrollable emotion in purchasing and the idea of purchasing luxury items. Therefore, this event aims to spread the awareness among youngsters especially student about the basic financial management including scholarship allowances and increase the financial literacy especially on the importance of saving. This feedback was heavily participated by youngsters and most of the feedbacks given for this event were positive. The participants gain extra knowledge on the financial niche and later helps them to improve their spending habits.
