Amanah Saham Nasional Berhad (ASNB) and UTAR Faculty of Accountancy and Management (FAM) Department of Accountancy held a financial literacy talk at UTAR Sungai Long Campus on 25 July 2019. The one hour talk included practical sessions as well as a quiz with rewards for the audiences.
ASNB Marketing Department and Financial Literacy Associate Iskandar Rashdan bin Mohd Rusli shared his expertise in managing finance. Financial crisis is a universal problem and often faced by fresh graduates and young adults. He listed down the impact of the lack of financial literacy which included lack of savings, no savings at all and problem in credit management. According to Iskandar, two out of 10 Malaysians do not save any income while 50 per cent saves only up to 10 per cent of their total income. Despite that, he mentioned that the issues rose denotes the living cost and debt that haunt young adults causing them to not have any surplus in their monthly income.
Iskandar reminded the students that loan used to purchase a car often becomes the “killer” of financial stability among young adults
He then related the talk to the investment initiative as a preparation for retirement and rainy days ahead. Starting early is also said to be a wise step as an early investor will get better returns compared to a bigger value invested later. This concept is also known as the compounding effect.
“Among the factors to consider while choosing the right medium of investment are the suitability of the investment, whether you should invest gradually or in a lump sum, the risks that come with the investment, the period of your investment as well as return estimation,” said Iskandar. Other than that, he also cautioned the audiences to be alert of unregistered schemes that may turn out to be a scam.
ASNB offers investment opportunity through 14 unit trusts, with existing 13.8 million investors. “Just like other investments, unit trust has its risks. However, in general, unit trust has moderate risk but offering competitive returns,” he added.
FAM lecturer Raymond Ling Leh Bin presenting prizes to the winners of the quizzes which was held prior and after the talk
Students registering ASNB account
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