The Malaysian Financial Planning Council (MFPC), in collaboration with the Counseling and Credit Management Agency (AKPK), Prudential BSN Takaful, Malaysian Insurance Deposit Corporation (PIDM), Federation of Investment Managers Malaysia (FiMM) and Employees Provident Fund (EPF) organised a financial planning talk at the Ungku Omar Polytechnic, Ipoh recently.
The 7-hour talk, appropriately named ‘MyMoney and Me’ consisted of seven short sessions presented by representatives from each organisation.
According to Ipoh born Chung Kar Yin, the Executive Director of MFPC, the objective of the talk was to elevate financial literacy among youths in Malaysia.
“Our research shows us that Malaysians are too prudent when it comes to managing their money,” she said. “ There is a misconception among Malaysians, that agencies like AKPK are money lenders. Malaysians don’t understand the importance of professional financial planners. We’re trying to help them understand,” she said.
MPFC is a non-profit organisation that actively organises financial planning talks all over Malaysia. These talks are open to the public, and are not limited to specific age groups.
Twenty-year-old polytechnic student, Nabilah said that she attended the talk which was recommended by her lecturer.
“One of the subjects I study here involves research. I came to this talk to attempt to understand financial planning so I can channel the knowledge acquired into my research,” she added.
Asked if she found the talk productive, she said that it was just average, given that the talk had only commenced for an hour at the time of our interview.
The talk touched on various topics such as will-writing, insurance, private retirement schemes and shariah savings.