QR Code Link : Type : Newspaper Clipping Subject : Institusi Pengajian Tinggi Main Author : Inas Farid, Izrina Azrin Title : Students urged to adopt prudent spending, saving habits - Zambry

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Abstract :

KUALA LUMPUR: Students and Malaysians must adopt a disciplined financial mindset by prioritising savings and prudent spending to navigate an increasingly complex economic landscape. Higher Education Minister Datuk Seri Dr Zambry Abd Kadir said it was vital to instil money management awareness among the youth, including the habit of saving and investing from an early age.   Speaking at the Celik Madani Achievement and Future Direction Ceremony at Menara Merdeka 118 today, he noted that modern financial systems and easy access to credit facilities, such as credit cards, often encouraged overspending. "People tend to spend without considering necessity or affordability, especially when transactions are made using cards instead of cash. This has led to unhealthy financial habits within society," he said. Zambry advocated for a mindset shift toward living within one's means and adopting the principle of "save first, spend later."   Sharing a personal anecdote, he recalled how small savings during his youth, including as little as RM10 deposited through Bank Simpanan Nasional schemes, could grow significantly over time. He also highlighted the role of Amanah Saham Nasional Bhd (ASNB) in encouraging investment among Malaysians, particularly through initiatives that allow individuals to start with modest amounts. Zambry said such efforts were vital in shaping a financially resilient generation capable of managing future challenges, including rising living costs and economic uncertainties.   "A strong nation is built on individuals who are financially responsible, not burdened by excessive debt," he said. He called for continued collaboration between government agencies, higher learning institutions and industry players to strengthen financial literacy efforts among youths.

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