Millennials have high debt, low financial resilience


Bede Hong

Millennials are more passionate about keeping pace with the latest digital lifestyle and are thus more likely to end up in debt. – EPA pic, October 3, 2017.

MALAYSIANS “live for the moment” when it comes to spending, resulting in high debt and low financial resilience that make them vulnerable to financial shocks, said Bank Negara Malaysia deputy governor Abdul Rasheed Ghaffour.

“This observation tends to be true particularly among the millennial generation. Millennials are more passionate about keeping pace with the latest digital lifestyle,” he said at the Federation of Malaysian Consumer Associations (Fomca) Conference 2017 in Kuala Lumpur today.


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