Malaysia gen y face financial stress, live beyond their means.
Malaysia
gen y face financial stress, live beyond their means.
Friday 16 October 2015
The star.
What is gen
y?
Gen y is the
generation of people born during the 1980s and early 1990s. The name is based
on Generation X, the generation that preceded them.
Members of
Generation Y are often referred to as “echo boomers” because they are the
children of parents born during the baby boom (the “baby boomers”). Because
children born during this time period have had constant access to technology
(computers, cell phones) in their youth, they have required many employers to
update their hiring strategy in order to incorporate updated forms of
technology. Also called millennials, echo boomers, internet generation, iGen,
net generation.
Based
on the articles The Star, we can make can make the conclusion by what has been
said by Asian Institute of Finance (AIF)
chief executive officer Dr Raymond Madden, many of the gen y generation will has financial problems in their future
as a action of their accrue debt before they even enter their professional
carrier.
What
they were found from the research they done it showed a majority of Gen Y’s
were relying on high cost borrowing, with 38% reported to be taking personal
loans and 47% engaged in expensive credit card borrowings, while only 28% felt
confident in their financial literacy.
By
that, what we as a gen y generation must prepared well to face the future that
are more challenging by study well how to managing well our money and make it
as one of our life skills. We also can go to
any financial adviser to learn more about financial Understanding the current financial literacy
levels of Gen Ys can better for them in the future.
