Published: 15 October 2015 11:08 AM
Impulse-buying behaviour and easy access to personal loans and credit card financing have been blamed on an increase in Malaysians accruing debt at an early age, a survey finds. – The Malaysian Insider pic by Kamal Ariffin, October 15, 2015.
"To offset this debt, they are relying on high cost borrowing methods - 38% of Gen Ys reported to taking personal loans, while 47% are engaged in expensive credit card borrowing."
Of the 1,011 young professionals interviewed, 60% were single while the majority (43%) earned between RM1,500 and RM3,000. Some 32% earned between RM3,100 and RM4,500, and 8% earned below RM1,500.
- See more at: http://www.themalaysianinsider.com/malaysia/article/malaysias-gen-y-in-debt-living-on-the-edge-survey-reveals#sthash.P7m2xI3O.dpuf