PETALING JAYA: A YOLO (You Only Live Once) mindset, coupled with stagnant wages and a struggle to live within their means, is pushing more young Malaysians toward bankruptcy, according to economists and financial planners.
Prof Dr Yeah Kim Leng, director of the economic studies programme at the Jeffrey Cheah Institute of Sunway University, said that while the central bank has tightened personal financing guidelines, many youths are still finding new ways to rack up debt from alternative sources.
