The workshops have been offered free and in English and Bahasa Malaysia, and aimed at youths and young adults. The workshops cover four main areas of financial literacy, Asset Protection, Asset Accumulation, Asset Management and Asset Distribution.
The theme of this year’s workshops is “Take care of yourself, Take care of your money” (Jaga diri anda, Jaga wang anda), the Organization for Economic Co-operation and Development’s (OECD) annual theme for 2021. It was launched on 1 March 2021 as an annual international campaign to help young people become financially aware and learn how to manage their money, and is recognised as a country initiative.
The core objective of the programme is to help youths make better financial decisions, as data indicates Malaysian youths sorely lack effective money management knowledge. Practising positive financial behaviour will help youths gain strong financial capability well into adulthood and their retirement years
The findings of numerous studies underscore the importance and relevance of programmes like MFPC’s My Money & Me in raising financial knowledge of Malaysians, knowledge most effective when instilled and practised at a young age.
Among these studies is the OECD/International Network on Financial Education’s 2020 International Survey of Adult Financial Literacy, that indicated that just above a quarter of Malaysians (26%) knew about concepts in personal finance that could help an individual enhance financial well-being. The report also revealed that the average literacy score of Malaysians was just 33%.
Further, MFPC’s own national 2020 study on Financial Capability and Utilisation of Financial Advisory Services in Malaysia revealed that an alarming number of Malaysians generally have low financial capability, do not know how to manage their money, do not plan ahead and have a highly inadequate understanding of risks and investments. The worrying findings are verified by the findings of Agensi Kaunseling dan Pengurusan Kewangan (AKPK), Securities Commission Malaysia and the Malaysian Department of Insolvency.
MFPC’s My Money & Me programme has received UNESCO’S honourable commendation. The award honours MFPC, who has achieved outstanding progress in conventional financial planning education and is making significant and lasting social impact on the various target groups. MFPC hopes that such financial literacy programmes will make a difference in the lives of youths, enhancing their upward mobility and creating lasting and positive change.
Our speakers include experts in the field of financial planning from Bank Negara Malaysia, EPF, AKPK, Securities Commission Malaysia, the relevant associations, academicians and MFPC.
For the next year, MFPC plans to continue with the programmes and to reach out to even more Malaysians.
The public workshops are supported by BNM, AKPK, FIMM, IRB, SC, LIAM and MTA.
Malaysian Financial Planning Council (MFPC)
The Malaysian Financial Planning Council (MFPC) was set up in in 2004 with the objective of promoting nationwide development and enhancement of the financial planning profession. Its mission now includes raising the financial literacy of all Malaysians. This reflects our contribution to the positive development of the rakyat and the nation.
Please click here for the Public Event Registration:
https://1st.mfpc.org.my/PublicEventRegistration/267
Source: Malaysian Financial Planning Council (MFPC)
http://mrem.bernama.com/viewsm.php?idm=41527
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