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Gen Y under financial stress, says Asian Institute of Finance


Dr Madden said “despite being the most educated generation to date, our extensive industry research indicates that Gen Ys are accruing debt at an earlier age and lack understanding when it comes to financial planning.

Dr Madden said “despite being the most educated generation to date, our extensive industry research indicates that Gen Ys are accruing debt at an earlier age and lack understanding when it comes to financial planning.

KUALA LUMPUR: A new study conducted by the Asian Institute of Finance (AIF) has found that the Gen Y in Malaysia are experiencing significant financial stress early in their life with many living beyond their means and trapped in emotional spending.

The research highlights that the majority of respondents are relying on high cost borrowing with 38% reporting taking out personal loans and 47% engaged in expensive credit card borrowings, while, only 28% felt confident in their financial literacy. 

Gen Y

   

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