KUALA LUMPUR: Malaysia’s Gen Ys are experiencing significant financial stress early in their life with many living beyond their means and trapped in emotional spending, according to a new study by the Asian Institute of Finance (AIF).
The survey showed a majority of Gen Ys 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.
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