Upward Social Mobility of Youths through Financial Planning

/ / News

Kuala Lumpur, 2 November 2019 – Malaysian Financial Planning Council (MFPC) organized a Financial Planning Workshop for Youths that was held at PJ Trade Centre today from 8:30 am until 5:00 pm.

This workshop was officiated by YB Tony Pua Kiam Wee this morning. The aim was to help Malaysian youths gain basic financial literacy, and instil better attitudes and behaviours towards financial management, MFPC organised a one-day Financial Literacy Workshop open to public. The key objective of this Financial Planning workshop is to help them make better financial decisions, as data indicates youths in Malaysia lacks successful money management knowledge.

The workshop was conducted on 2 November 2019 at Dewan Sri Mutiara, Aras 3, Inland Revenue Board of Malaysia Petaling Jaya Branch, PJ Trade Centre. Collaborators for these workshop include agencies from Employees Provident Fund (EPF), Inland Revenue Board of Malaysia, Credit Counselling and Debt Management Agency (AKPK), Securities Commission (SC), Social Security Organisation (SOCSO), Federation of Investment Managers Malaysia (FIMM) and Perbadanan Insurans Deposit Malaysia (PIDM) among many other financial institutions.  This workshop was the last of such programmes for youths in 2019. However, with the Government’s greater focus on Financial Education Network (FEN) and the importance of financial literacy as a necessary life skill for youths, MFPC has numerous free programmes lined up in various states for the year 2020. MFPC is eager to make a difference in the lives of individuals, helping to enhance their upward mobility and create along-lasting and positive change in lives of more individuals with clear coordinated collaboration with our partners in year 2019 through more financial literacy programmes.

At the event, Deputy President of MFPC, Dr. Desmond Chong said, “We are very pleased that the public has found it imperative that they see financial planning is an important life skill. We are very convinced that financial planning knowledge and skills are key attributes to survive in this modern and fast-pacing world and would serve as key attributes as money issues are core in building a resilient individual” he added.

The workshop used a blended approach using not only a face-to-face approach, but also a mobile app to aid participants in understanding and managing their personal finances in-depth. The ‘Super Agent’ gamification platform is also used to award the most engaging participants throughout the whole workshop with an IPad, a smartphone, Touch ‘N Go cards, AEON vouchers and complimentary MFPC’s t-shirts.