Article from Borneo Post, 4 July 2014
KUCHING: New and young workers in Sarawak are reminded to think carefully before they borrow from any financial institution.
Credit Counselling and Debt Management Agency (AKPK) said before borrowing a person must ask himself or herself the purpose of the loan.
Its Sarawak Region head, Marlene Margaret Nichol, said potential borrowers must keep in mind that they should only borrow to meet their needs and not their wants.
She said with numerous loans and credit cards offered by financial institutions in the market today, young workers were easily tempted to spend more money than they actually have through borrowings.
“Borrowing from financial institutions allows you to obtain money on loan or a line or credit to enable you to buy a house, car, pay your bills or even go on holidays.
“Although a loan is beneficial, particularly in helping you pay big purchases, it is crucial that you keep in mind that the money doesn’t come for free.
“Money on loans needs to be paid back, with interest and penalty charges when it is repaid late,” she said.
Margaret said that credit was a facility to borrow with an agreement to repay the creditor, as per the terms and conditions outlined in the contract.
“When a person borrows, he or she is taking on credit and when a person uses a credit facility, he or she is taking on debt.
“For example, you are given a credit card with a limit of RM3,000. If you have spent RM1,000 on your credit card, that RM1,000 of utilised credit now becomes a debt,” she said.
Margaret, who is also one of AKPK counsellors, suggested that when a person wanted to take a loan or use a credit card to purchase something, the person should ask himself or herself the following questions: Is the product or service I intend to purchase a need or a want? Can I afford to pay the instalments? If it is a substantial purchase, such as a car or house, can I pay a larger downpayment?
She said one should borrow for productive purposes only, borrow within one’s means – try to keep to a debt-to-income ratio of not more that 40 per cent.
“When you borrow, keep the 3Ps in mind – purpose of the loan, payment ability (repayment capacity) and payment history (having good track record).
“Understand the different type of interest and the effects they have on your total borrowing costs.
“Think carefully before agreeing to become a guarantor because if the borrower cannot or refuses to pay, you are liable,” she said.
AKPK is a wholly owned subsidiary of Bank Negara Malaysia, offering free-of-charge services not just to the borrowers, but also potential borrowers.
It offers financial education on the responsible use of credit and basic money management skills – its financial education programmes include ad-hoc tailor-made talks and briefings to various target groups, a personal financial management education programme (which normally targets university students) and the POWER! programme, designed to equip individuals with essential financial knowledge and ability to make responsible financial decisions.
Article from Borneo Post, 4 July 2014
KUCHING: New and young workers in Sarawak are reminded to think carefully before they borrow from any financial institution.
Credit Counselling and Debt Management Agency (AKPK) said before borrowing a person must ask himself or herself the purpose of the loan.
Its Sarawak Region head, Marlene Margaret Nichol, said potential borrowers must keep in mind that they should only borrow to meet their needs and not their wants.
She said with numerous loans and credit cards offered by financial institutions in the market today, young workers were easily tempted to spend more money than they actually have through borrowings.
“Borrowing from financial institutions allows you to obtain money on loan or a line or credit to enable you to buy a house, car, pay your bills or even go on holidays.
“Although a loan is beneficial, particularly in helping you pay big purchases, it is crucial that you keep in mind that the money doesn’t come for free.
“Money on loans needs to be paid back, with interest and penalty charges when it is repaid late,” she said.
Margaret said that credit was a facility to borrow with an agreement to repay the creditor, as per the terms and conditions outlined in the contract.
“When a person borrows, he or she is taking on credit and when a person uses a credit facility, he or she is taking on debt.
“For example, you are given a credit card with a limit of RM3,000. If you have spent RM1,000 on your credit card, that RM1,000 of utilised credit now becomes a debt,” she said.
Margaret, who is also one of AKPK counsellors, suggested that when a person wanted to take a loan or use a credit card to purchase something, the person should ask himself or herself the following questions: Is the product or service I intend to purchase a need or a want? Can I afford to pay the instalments? If it is a substantial purchase, such as a car or house, can I pay a larger downpayment?
She said one should borrow for productive purposes only, borrow within one’s means – try to keep to a debt-to-income ratio of not more that 40 per cent.
“When you borrow, keep the 3Ps in mind – purpose of the loan, payment ability (repayment capacity) and payment history (having good track record).
“Understand the different type of interest and the effects they have on your total borrowing costs.
“Think carefully before agreeing to become a guarantor because if the borrower cannot or refuses to pay, you are liable,” she said.
AKPK is a wholly owned subsidiary of Bank Negara Malaysia, offering free-of-charge services not just to the borrowers, but also potential borrowers.
It offers financial education on the responsible use of credit and basic money management skills – its financial education programmes include ad-hoc tailor-made talks and briefings to various target groups, a personal financial management education programme (which normally targets university students) and the POWER! programme, designed to equip individuals with essential financial knowledge and ability to make responsible financial decisions.
Jul 04, 2014 | financialmanagement
Article from Borneo Post, 4 July 2014
KUCHING: New and young workers in Sarawak are reminded to think carefully before they borrow from any financial institution.
Credit Counselling and Debt Management Agency (AKPK) said before borrowing a person must ask himself or herself the purpose of the loan.
Its Sarawak Region head, Marlene Margaret Nichol, said potential borrowers must keep in mind that they should only borrow to meet their needs and not their wants.
She said with numerous loans and credit cards offered by financial institutions in the market today, young workers were easily tempted to spend more money than they actually have through borrowings.
“Borrowing from financial institutions allows you to obtain money on loan or a line or credit to enable you to buy a house, car, pay your bills or even go on holidays.
“Although a loan is beneficial, particularly in helping you pay big purchases, it is crucial that you keep in mind that the money doesn’t come for free.
“Money on loans needs to be paid back, with interest and penalty charges when it is repaid late,” she said.
Margaret said that credit was a facility to borrow with an agreement to repay the creditor, as per the terms and conditions outlined in the contract.
“When a person borrows, he or she is taking on credit and when a person uses a credit facility, he or she is taking on debt.
“For example, you are given a credit card with a limit of RM3,000. If you have spent RM1,000 on your credit card, that RM1,000 of utilised credit now becomes a debt,” she said.
Margaret, who is also one of AKPK counsellors, suggested that when a person wanted to take a loan or use a credit card to purchase something, the person should ask himself or herself the following questions: Is the product or service I intend to purchase a need or a want? Can I afford to pay the instalments? If it is a substantial purchase, such as a car or house, can I pay a larger downpayment?
She said one should borrow for productive purposes only, borrow within one’s means – try to keep to a debt-to-income ratio of not more that 40 per cent.
“When you borrow, keep the 3Ps in mind – purpose of the loan, payment ability (repayment capacity) and payment history (having good track record).
“Understand the different type of interest and the effects they have on your total borrowing costs.
“Think carefully before agreeing to become a guarantor because if the borrower cannot or refuses to pay, you are liable,” she said.
AKPK is a wholly owned subsidiary of Bank Negara Malaysia, offering free-of-charge services not just to the borrowers, but also potential borrowers.
It offers financial education on the responsible use of credit and basic money management skills – its financial education programmes include ad-hoc tailor-made talks and briefings to various target groups, a personal financial management education programme (which normally targets university students) and the POWER! programme, designed to equip individuals with essential financial knowledge and ability to make responsible financial decisions.
Artikel dari Utusan Malaysia, 11 Julai 2014
KUALA LUMPUR 11 Julai - Sebanyak 65,277 orang lelaki di negara ini mendapatkan bantuan khidmat kaunseling bagi penstrukturan semula kewangan untuk mengelakkan daripada diisytihar muflis.
Ketua Jabatan Komunikasi Korporat Agensi Kaunseling dan Pengurusan Kredit (AKPK), Mohamad Khalil Jamaldin berkata, dalam kebanyakan kes ketidakupayaan membayar balik pinjaman disebabkan perancangan kewangan yang lemah dan tidak mempunyai pengetahuan.
Jelasnya, kehadiran mereka bagi mendapat perkhidmatan AKPK turut didorong oleh cara kehidupan yang tidak mengikut kemampuan kewangan.
"Malah sebanyak 17,096 daripada mereka berusia antara 20 hingga 30 tahun yang turut mengalami masalah faktor luar jangkaan seperti kesihatan, kematian pencari nafkah, kehilangan pekerjaan dan kegagalan perniagaan," katanya ketika ditemui sempena Majlis Berbuka AKPK bersama media di sini, semalam. Yang turut hadir, Ketua Pegawai Eksekutif AKPK, Koid Swee Lian.
Tambah Mohamad Khalil, golongan belia tidak perlu berasa malu untuk mendapatkan perkhidmatan kaunseling bagi memastikan para peminjam bijak menguruskan wang dan tidak dibebani hutang hingga menjadi muflis.
"Program pendidikan kewangan AKPK bertujuan memupuk tabiat meminjam secara lebih bijak dan pada masa sama menggalakkan budaya pembayaran semula pinjaman yang konsisten serta teratur. Dengan bertambahnya pengetahuan kewangan, keperluan untuk menabung dapat diwujudkan untuk masa depan," katanya.
Katanya, AKPK mahu mengubah persepsi negatif dari segelintir pihak berhubung peranan agensi itu yang sebenarnya memainkan peranan dalam mendidik rakyat mengenai pengurusan kewangan.
"Sebelum ini ramai yang beranggapan AKPK merupakan agensi yang menyelesaikan masalah hutang tetapi sebaliknya agensi kami bertujuan memupuk tabiat meminjam secara lebih bijak serta dalam masa yang sama menggalakkan budaya pembayaran semula pinjaman yang konsisten dan teratur," katanya.
Artikel dari Utusan Malaysia, 11 Julai 2014
KUALA LUMPUR 11 Julai - Sebanyak 65,277 orang lelaki di negara ini mendapatkan bantuan khidmat kaunseling bagi penstrukturan semula kewangan untuk mengelakkan daripada diisytihar muflis.
Ketua Jabatan Komunikasi Korporat Agensi Kaunseling dan Pengurusan Kredit (AKPK), Mohamad Khalil Jamaldin berkata, dalam kebanyakan kes ketidakupayaan membayar balik pinjaman disebabkan perancangan kewangan yang lemah dan tidak mempunyai pengetahuan.
Jelasnya, kehadiran mereka bagi mendapat perkhidmatan AKPK turut didorong oleh cara kehidupan yang tidak mengikut kemampuan kewangan.
"Malah sebanyak 17,096 daripada mereka berusia antara 20 hingga 30 tahun yang turut mengalami masalah faktor luar jangkaan seperti kesihatan, kematian pencari nafkah, kehilangan pekerjaan dan kegagalan perniagaan," katanya ketika ditemui sempena Majlis Berbuka AKPK bersama media di sini, semalam. Yang turut hadir, Ketua Pegawai Eksekutif AKPK, Koid Swee Lian.
Tambah Mohamad Khalil, golongan belia tidak perlu berasa malu untuk mendapatkan perkhidmatan kaunseling bagi memastikan para peminjam bijak menguruskan wang dan tidak dibebani hutang hingga menjadi muflis.
"Program pendidikan kewangan AKPK bertujuan memupuk tabiat meminjam secara lebih bijak dan pada masa sama menggalakkan budaya pembayaran semula pinjaman yang konsisten serta teratur. Dengan bertambahnya pengetahuan kewangan, keperluan untuk menabung dapat diwujudkan untuk masa depan," katanya.
Katanya, AKPK mahu mengubah persepsi negatif dari segelintir pihak berhubung peranan agensi itu yang sebenarnya memainkan peranan dalam mendidik rakyat mengenai pengurusan kewangan.
"Sebelum ini ramai yang beranggapan AKPK merupakan agensi yang menyelesaikan masalah hutang tetapi sebaliknya agensi kami bertujuan memupuk tabiat meminjam secara lebih bijak serta dalam masa yang sama menggalakkan budaya pembayaran semula pinjaman yang konsisten dan teratur," katanya.
Jul 11, 2014 | financialmanagement
Artikel dari Utusan Malaysia, 11 Julai 2014
KUALA LUMPUR 11 Julai - Sebanyak 65,277 orang lelaki di negara ini mendapatkan bantuan khidmat kaunseling bagi penstrukturan semula kewangan untuk mengelakkan daripada diisytihar muflis.
Ketua Jabatan Komunikasi Korporat Agensi Kaunseling dan Pengurusan Kredit (AKPK), Mohamad Khalil Jamaldin berkata, dalam kebanyakan kes ketidakupayaan membayar balik pinjaman disebabkan perancangan kewangan yang lemah dan tidak mempunyai pengetahuan.
Jelasnya, kehadiran mereka bagi mendapat perkhidmatan AKPK turut didorong oleh cara kehidupan yang tidak mengikut kemampuan kewangan.
"Malah sebanyak 17,096 daripada mereka berusia antara 20 hingga 30 tahun yang turut mengalami masalah faktor luar jangkaan seperti kesihatan, kematian pencari nafkah, kehilangan pekerjaan dan kegagalan perniagaan," katanya ketika ditemui sempena Majlis Berbuka AKPK bersama media di sini, semalam. Yang turut hadir, Ketua Pegawai Eksekutif AKPK, Koid Swee Lian.
Tambah Mohamad Khalil, golongan belia tidak perlu berasa malu untuk mendapatkan perkhidmatan kaunseling bagi memastikan para peminjam bijak menguruskan wang dan tidak dibebani hutang hingga menjadi muflis.
"Program pendidikan kewangan AKPK bertujuan memupuk tabiat meminjam secara lebih bijak dan pada masa sama menggalakkan budaya pembayaran semula pinjaman yang konsisten serta teratur. Dengan bertambahnya pengetahuan kewangan, keperluan untuk menabung dapat diwujudkan untuk masa depan," katanya.
Katanya, AKPK mahu mengubah persepsi negatif dari segelintir pihak berhubung peranan agensi itu yang sebenarnya memainkan peranan dalam mendidik rakyat mengenai pengurusan kewangan.
"Sebelum ini ramai yang beranggapan AKPK merupakan agensi yang menyelesaikan masalah hutang tetapi sebaliknya agensi kami bertujuan memupuk tabiat meminjam secara lebih bijak serta dalam masa yang sama menggalakkan budaya pembayaran semula pinjaman yang konsisten dan teratur," katanya.
Artikel dari BERNAMA, 21 Julai 2014
KUALA LUMPUR (Bernama) -- Perabotnya masih lagi elok, warna tidak ada tanda-tanda hendak pudar manakala struktur fizikalnya nampak kukuh. Begitu juga dengan langsir di ruang tamu rumah teres dua tingkat ini.
Pendek kata, semuanya masih boleh dan selamat untuk digunakan dan tidak buruk ataupun lusuh.
"Abang, kita tukar sahajalah set sofa rumah ini. Mana ada lagi orang pakai sofa macam ini. Nanti malu kepada tetamu dan rakan yang datang", rungut Sofia.
Bagaimanapun, permintaannya tidak mendapat respons positif daripada si suami yang mempertikaikan tempat istirehat itu masih lagi cantik dan tidak pun menunjukkan tanda-tanda akan rosak.
Bengang reaksi diberikan menyebabkan Sofia mula ligat mencari helah, yang mana ini antara sedutan sketsa berkisar 'boros perbelanjaan menjelang Aidilfitri' yang ditayangkan di televisyen baru-baru ini.
Bagaikan mengalami sindrom perayaan, hakikatnya cerita Sofia ini adalah antara realiti kehidupan masyarakat hari ini yang begitu meriah berbelanja setiap kali menjelang perayaan.
Walhal, tanpa mereka sedari atau sengaja tidak mengendahkannya sikap ini boleh mengundang padah!
PELBAGAI PROMOSI
Tidak dinafikan, ketika ini pelbagai promosi menarik ditawarkan oleh pusat membeli-belah memenuhi setiap sudut kota dan luar bandar.
Bagaikan tidak mencukupi, ada pula kewujudan peniaga bazar sementara yang menjual pelbagai barangan seperti alas meja, pakaian tradisional, kuih raya, sekali gus menambahkan lagi kemeriahan menyambut Aidilfitri.
Sama ada mempunyai lesen ataupun sebaliknya, masing-masing begitu rancak bermain strategi dan gimik untuk melariskan barangan yang dijual.
Tidak hanya bergantung kepada potongan harga runtuh serta dendangan lagu raya, aksi-aksi mencuit hati turut menjadi pilihan peniaga untuk menarik pelanggan, ditambah pula menjelang akhirnya Ramadan ini.
Slogan-slogan seperti beli dahulu bayar kemudian, promosi dalam talian juga membuatkan ramai mula rambang mata dan mula berbelanja, hingga ada melangkaui kemampuan sendiri.
"Apabila ingin menyambut Aidilfitri atau apa-apa sahaja perayaan, masyarakat akan membuat persiapan bagi menyambutnya dengan meriah. Mereka akan membeli pakaian baharu, menukar peralatan dan perabot rumah.
"Terdapat sebahagian masyarakat tidak mengamalkan perbelanjaan berhemat. Akibatnya, ramai menghadapi masalah kehabisan wang selepas Hari Raya Aidilfitri", kata Pengarah Komunikasi Persekutuan Pengguna Malaysia (Fomca) Mohd Yusof Abdul Rahman.
HABIS DULU, FIKIR KEMUDIAN
Bagi sesetengah mereka beranggapan 'raya hanyalah setahun sekali', jadi apalah salahnya untuk berbelanja lebih.
Ditambah pula dengan bonus yang sudah ada di tangan dan gaji dimasukkan lebih awal bagi meringankan persiapan raya, membuatkan ada yang tersilap langkah dek keseronokan berbelanja menguasai diri.
Mereka bukan hanya menghabiskan pendapatan semasa diterima, alahan kad kredit juga menjadi pilihan sebagai opsyen pembayaran pada musim perayaan ini.
Walhal, penggunaan yang tidak berdisiplin semata-mata untuk memenuhi keinginan diri boleh memerangkap mereka kepada keberhutangan yang serius.
"Kemudahan berbelanja tanpa menggunakan tunai seperti kad kredit, bayaran mudah membeli perabot atau peralatan elektrik menyebabkan seseorang itu berbelanja melebihi pendapatan.
"Sekiranya mereka dapat menguruskan hutang itu dengan baik, tidak menjadi masalah. Tetapi, bagaimana pula sekiranya gagal? Justeru, lebih baik penggunaan kad debit", tegas Mohd Yusof kepada Bernama.
Jika gagal melunaskan hutang kad kredit selain pendapatan semasa diterima habis, akibatnya mereka bukan sahaja perlu ikat perut dan berpuasa selepas seminggu raya.
Bahkan, ada yang tidak mampu untuk menjelaskan ansuran bulanan rumah, kereta, perbelanjaan keluarga dan pelbagai bil lain.
BERHUTANG?
Paling membimbangkan, apabila terdapatnya trend untuk berhutang dengan ah long disebabkan kad kredit tidak cukup. Perkembangan ini adalah satu senario tidak sihat, kerana telah banyak kali laporan media mengenainya didedahkan.
Tetapi, mereka (segelintir) bagaikan tidak takut dan tidak ambil peduli, belajar daripada mangsa sebelum ini.
"Saya pernah dimaklumkan terdapat ramai orang datang ke syarikat peminjam wang tidak berlesen untuk mendapatkan bantuan kewangan. Malah, syarikat itu tidak menang tangan melayan pelanggan yang datang.
"Ini menunjukkan ramai orang menghadapi masalah kewangan sebagai persiapan menyambut perayaan", katanya.
Semua ini, merungkai kepada persoalan perlukah berbelanja boros sehingga berhutang keliling-pinggang, menggadaikan nyawa sendiri hanya semata-mata menyambut perayaan?
Berbaloikah untuk merasai kenikmatan sementara disebabkan ingin bergaya kereta baharu, telefon baharu sedangkan ia di luar kemampuan sehingga perlu ikat perut?
Persoalan dan senario ini perlu diambil perhatian serius, ujar Mohd Yusof.
Berdasarkan kajian yang pernah dijalankan FOMCA, menunjukkan 37 peratus pekerja muda berbelanja di luar tahap kemampuan masing-masing.
Manakala, 47 peratus responden menggunakan 30 peratus daripada pendapatan mereka untuk membayar hutang.
HUTANG DAN MUFLIS
Sikap suka berhutang ini, boleh menjurus mereka kepada muflis.
Data Jabatan Insolvensi Malaysia menunjukkan bahawa 23,397 individu yang diisytiharkan muflis sepanjang tahun 2007 sehingga September 2013 adalah dalam lingkungan umur 25 hingga 34 tahun.
Lebih membimbangkan, apabila ada antara mereka yang belum lagi genap mencapai usia 25 tahun, tetapi berada dalam kemelut kebankrapan.
"Kesedaran masyarakat tentang pengurusan kewangan masih rendah. Ini kerana, pendidikan kewangan pengguna kurang diterapkan dalam pendidikan sekolah.
"Cuma, sejak beberapa tahun kebelakangan ini timbul usaha pelbagai pihak mengadakan program pendidikan pengurusan kewangan. Hal ini timbul, apabila Jabatan Insolvensi Malaysia melaporkan terdapat 61 orang diisytiharkan muflis setiap hari", katanya.
Kurang pengetahuan itu membuatkan ramai yang gagal membuat perancangan ataupun bajet untuk menghadapi perayaan.
Menurut Ketua Cawangan Agensi Kaunseling dan Pengurusan Kredit Johor Baharu, Mohd Nasir Mustafa, agak menyedihkan apabila ada antaranya tidak tahu apa yang dimaksudkan 'bajet'.
Sedangkan, bajet atau perancangan musim perayaan ini sangat mudah untuk dibuat dan dilaksanakan kerana hanya berlaku setahun sekali dan ada masa untuk membuat persediaan menyimpan.
SEDIA MEMBANTU
Bagi menanganinya, Agensi Kaunseling dan Pengurusan Kredit (AKPK) sedia membantu orang ramai menjadi pengguna bijak.
Pelbagai program dianjurkan selaras dengan peranannya membantu individu menguasai situasi kewangan mereka dan mencapai ketenangan minda hasil daripada penggunaan kredit secara bijak.
Antaranya program Power, yang khusus kepada golongan muda, pengurusan kewangan peribadi dan kaunseling turut disediakan.
"Tidak salah berbelanja tetapi haruslah mengikut kemampuan masing-masing. Cuba elakkan daripada terpengaruh dengan persekitaran.
"Sekurang-kurangnya, kita perlu memperuntukkan 10 peratus daripada gaji untuk menyimpan bagi menghadapi saat kecemasan", katanya.
-- BERNAMA
Artikel dari BERNAMA, 21 Julai 2014
KUALA LUMPUR (Bernama) -- Perabotnya masih lagi elok, warna tidak ada tanda-tanda hendak pudar manakala struktur fizikalnya nampak kukuh. Begitu juga dengan langsir di ruang tamu rumah teres dua tingkat ini.
Pendek kata, semuanya masih boleh dan selamat untuk digunakan dan tidak buruk ataupun lusuh.
"Abang, kita tukar sahajalah set sofa rumah ini. Mana ada lagi orang pakai sofa macam ini. Nanti malu kepada tetamu dan rakan yang datang", rungut Sofia.
Bagaimanapun, permintaannya tidak mendapat respons positif daripada si suami yang mempertikaikan tempat istirehat itu masih lagi cantik dan tidak pun menunjukkan tanda-tanda akan rosak.
Bengang reaksi diberikan menyebabkan Sofia mula ligat mencari helah, yang mana ini antara sedutan sketsa berkisar 'boros perbelanjaan menjelang Aidilfitri' yang ditayangkan di televisyen baru-baru ini.
Bagaikan mengalami sindrom perayaan, hakikatnya cerita Sofia ini adalah antara realiti kehidupan masyarakat hari ini yang begitu meriah berbelanja setiap kali menjelang perayaan.
Walhal, tanpa mereka sedari atau sengaja tidak mengendahkannya sikap ini boleh mengundang padah!
PELBAGAI PROMOSI
Tidak dinafikan, ketika ini pelbagai promosi menarik ditawarkan oleh pusat membeli-belah memenuhi setiap sudut kota dan luar bandar.
Bagaikan tidak mencukupi, ada pula kewujudan peniaga bazar sementara yang menjual pelbagai barangan seperti alas meja, pakaian tradisional, kuih raya, sekali gus menambahkan lagi kemeriahan menyambut Aidilfitri.
Sama ada mempunyai lesen ataupun sebaliknya, masing-masing begitu rancak bermain strategi dan gimik untuk melariskan barangan yang dijual.
Tidak hanya bergantung kepada potongan harga runtuh serta dendangan lagu raya, aksi-aksi mencuit hati turut menjadi pilihan peniaga untuk menarik pelanggan, ditambah pula menjelang akhirnya Ramadan ini.
Slogan-slogan seperti beli dahulu bayar kemudian, promosi dalam talian juga membuatkan ramai mula rambang mata dan mula berbelanja, hingga ada melangkaui kemampuan sendiri.
"Apabila ingin menyambut Aidilfitri atau apa-apa sahaja perayaan, masyarakat akan membuat persiapan bagi menyambutnya dengan meriah. Mereka akan membeli pakaian baharu, menukar peralatan dan perabot rumah.
"Terdapat sebahagian masyarakat tidak mengamalkan perbelanjaan berhemat. Akibatnya, ramai menghadapi masalah kehabisan wang selepas Hari Raya Aidilfitri", kata Pengarah Komunikasi Persekutuan Pengguna Malaysia (Fomca) Mohd Yusof Abdul Rahman.
HABIS DULU, FIKIR KEMUDIAN
Bagi sesetengah mereka beranggapan 'raya hanyalah setahun sekali', jadi apalah salahnya untuk berbelanja lebih.
Ditambah pula dengan bonus yang sudah ada di tangan dan gaji dimasukkan lebih awal bagi meringankan persiapan raya, membuatkan ada yang tersilap langkah dek keseronokan berbelanja menguasai diri.
Mereka bukan hanya menghabiskan pendapatan semasa diterima, alahan kad kredit juga menjadi pilihan sebagai opsyen pembayaran pada musim perayaan ini.
Walhal, penggunaan yang tidak berdisiplin semata-mata untuk memenuhi keinginan diri boleh memerangkap mereka kepada keberhutangan yang serius.
"Kemudahan berbelanja tanpa menggunakan tunai seperti kad kredit, bayaran mudah membeli perabot atau peralatan elektrik menyebabkan seseorang itu berbelanja melebihi pendapatan.
"Sekiranya mereka dapat menguruskan hutang itu dengan baik, tidak menjadi masalah. Tetapi, bagaimana pula sekiranya gagal? Justeru, lebih baik penggunaan kad debit", tegas Mohd Yusof kepada Bernama.
Jika gagal melunaskan hutang kad kredit selain pendapatan semasa diterima habis, akibatnya mereka bukan sahaja perlu ikat perut dan berpuasa selepas seminggu raya.
Bahkan, ada yang tidak mampu untuk menjelaskan ansuran bulanan rumah, kereta, perbelanjaan keluarga dan pelbagai bil lain.
BERHUTANG?
Paling membimbangkan, apabila terdapatnya trend untuk berhutang dengan ah long disebabkan kad kredit tidak cukup. Perkembangan ini adalah satu senario tidak sihat, kerana telah banyak kali laporan media mengenainya didedahkan.
Tetapi, mereka (segelintir) bagaikan tidak takut dan tidak ambil peduli, belajar daripada mangsa sebelum ini.
"Saya pernah dimaklumkan terdapat ramai orang datang ke syarikat peminjam wang tidak berlesen untuk mendapatkan bantuan kewangan. Malah, syarikat itu tidak menang tangan melayan pelanggan yang datang.
"Ini menunjukkan ramai orang menghadapi masalah kewangan sebagai persiapan menyambut perayaan", katanya.
Semua ini, merungkai kepada persoalan perlukah berbelanja boros sehingga berhutang keliling-pinggang, menggadaikan nyawa sendiri hanya semata-mata menyambut perayaan?
Berbaloikah untuk merasai kenikmatan sementara disebabkan ingin bergaya kereta baharu, telefon baharu sedangkan ia di luar kemampuan sehingga perlu ikat perut?
Persoalan dan senario ini perlu diambil perhatian serius, ujar Mohd Yusof.
Berdasarkan kajian yang pernah dijalankan FOMCA, menunjukkan 37 peratus pekerja muda berbelanja di luar tahap kemampuan masing-masing.
Manakala, 47 peratus responden menggunakan 30 peratus daripada pendapatan mereka untuk membayar hutang.
HUTANG DAN MUFLIS
Sikap suka berhutang ini, boleh menjurus mereka kepada muflis.
Data Jabatan Insolvensi Malaysia menunjukkan bahawa 23,397 individu yang diisytiharkan muflis sepanjang tahun 2007 sehingga September 2013 adalah dalam lingkungan umur 25 hingga 34 tahun.
Lebih membimbangkan, apabila ada antara mereka yang belum lagi genap mencapai usia 25 tahun, tetapi berada dalam kemelut kebankrapan.
"Kesedaran masyarakat tentang pengurusan kewangan masih rendah. Ini kerana, pendidikan kewangan pengguna kurang diterapkan dalam pendidikan sekolah.
"Cuma, sejak beberapa tahun kebelakangan ini timbul usaha pelbagai pihak mengadakan program pendidikan pengurusan kewangan. Hal ini timbul, apabila Jabatan Insolvensi Malaysia melaporkan terdapat 61 orang diisytiharkan muflis setiap hari", katanya.
Kurang pengetahuan itu membuatkan ramai yang gagal membuat perancangan ataupun bajet untuk menghadapi perayaan.
Menurut Ketua Cawangan Agensi Kaunseling dan Pengurusan Kredit Johor Baharu, Mohd Nasir Mustafa, agak menyedihkan apabila ada antaranya tidak tahu apa yang dimaksudkan 'bajet'.
Sedangkan, bajet atau perancangan musim perayaan ini sangat mudah untuk dibuat dan dilaksanakan kerana hanya berlaku setahun sekali dan ada masa untuk membuat persediaan menyimpan.
SEDIA MEMBANTU
Bagi menanganinya, Agensi Kaunseling dan Pengurusan Kredit (AKPK) sedia membantu orang ramai menjadi pengguna bijak.
Pelbagai program dianjurkan selaras dengan peranannya membantu individu menguasai situasi kewangan mereka dan mencapai ketenangan minda hasil daripada penggunaan kredit secara bijak.
Antaranya program Power, yang khusus kepada golongan muda, pengurusan kewangan peribadi dan kaunseling turut disediakan.
"Tidak salah berbelanja tetapi haruslah mengikut kemampuan masing-masing. Cuba elakkan daripada terpengaruh dengan persekitaran.
"Sekurang-kurangnya, kita perlu memperuntukkan 10 peratus daripada gaji untuk menyimpan bagi menghadapi saat kecemasan", katanya.
-- BERNAMA
Jul 21, 2014 | financialmanagement
Artikel dari BERNAMA, 21 Julai 2014
KUALA LUMPUR (Bernama) -- Perabotnya masih lagi elok, warna tidak ada tanda-tanda hendak pudar manakala struktur fizikalnya nampak kukuh. Begitu juga dengan langsir di ruang tamu rumah teres dua tingkat ini.
Pendek kata, semuanya masih boleh dan selamat untuk digunakan dan tidak buruk ataupun lusuh.
"Abang, kita tukar sahajalah set sofa rumah ini. Mana ada lagi orang pakai sofa macam ini. Nanti malu kepada tetamu dan rakan yang datang", rungut Sofia.
Bagaimanapun, permintaannya tidak mendapat respons positif daripada si suami yang mempertikaikan tempat istirehat itu masih lagi cantik dan tidak pun menunjukkan tanda-tanda akan rosak.
Bengang reaksi diberikan menyebabkan Sofia mula ligat mencari helah, yang mana ini antara sedutan sketsa berkisar 'boros perbelanjaan menjelang Aidilfitri' yang ditayangkan di televisyen baru-baru ini.
Bagaikan mengalami sindrom perayaan, hakikatnya cerita Sofia ini adalah antara realiti kehidupan masyarakat hari ini yang begitu meriah berbelanja setiap kali menjelang perayaan.
Walhal, tanpa mereka sedari atau sengaja tidak mengendahkannya sikap ini boleh mengundang padah!
PELBAGAI PROMOSI
Tidak dinafikan, ketika ini pelbagai promosi menarik ditawarkan oleh pusat membeli-belah memenuhi setiap sudut kota dan luar bandar.
Bagaikan tidak mencukupi, ada pula kewujudan peniaga bazar sementara yang menjual pelbagai barangan seperti alas meja, pakaian tradisional, kuih raya, sekali gus menambahkan lagi kemeriahan menyambut Aidilfitri.
Sama ada mempunyai lesen ataupun sebaliknya, masing-masing begitu rancak bermain strategi dan gimik untuk melariskan barangan yang dijual.
Tidak hanya bergantung kepada potongan harga runtuh serta dendangan lagu raya, aksi-aksi mencuit hati turut menjadi pilihan peniaga untuk menarik pelanggan, ditambah pula menjelang akhirnya Ramadan ini.
Slogan-slogan seperti beli dahulu bayar kemudian, promosi dalam talian juga membuatkan ramai mula rambang mata dan mula berbelanja, hingga ada melangkaui kemampuan sendiri.
"Apabila ingin menyambut Aidilfitri atau apa-apa sahaja perayaan, masyarakat akan membuat persiapan bagi menyambutnya dengan meriah. Mereka akan membeli pakaian baharu, menukar peralatan dan perabot rumah.
"Terdapat sebahagian masyarakat tidak mengamalkan perbelanjaan berhemat. Akibatnya, ramai menghadapi masalah kehabisan wang selepas Hari Raya Aidilfitri", kata Pengarah Komunikasi Persekutuan Pengguna Malaysia (Fomca) Mohd Yusof Abdul Rahman.
HABIS DULU, FIKIR KEMUDIAN
Bagi sesetengah mereka beranggapan 'raya hanyalah setahun sekali', jadi apalah salahnya untuk berbelanja lebih.
Ditambah pula dengan bonus yang sudah ada di tangan dan gaji dimasukkan lebih awal bagi meringankan persiapan raya, membuatkan ada yang tersilap langkah dek keseronokan berbelanja menguasai diri.
Mereka bukan hanya menghabiskan pendapatan semasa diterima, alahan kad kredit juga menjadi pilihan sebagai opsyen pembayaran pada musim perayaan ini.
Walhal, penggunaan yang tidak berdisiplin semata-mata untuk memenuhi keinginan diri boleh memerangkap mereka kepada keberhutangan yang serius.
"Kemudahan berbelanja tanpa menggunakan tunai seperti kad kredit, bayaran mudah membeli perabot atau peralatan elektrik menyebabkan seseorang itu berbelanja melebihi pendapatan.
"Sekiranya mereka dapat menguruskan hutang itu dengan baik, tidak menjadi masalah. Tetapi, bagaimana pula sekiranya gagal? Justeru, lebih baik penggunaan kad debit", tegas Mohd Yusof kepada Bernama.
Jika gagal melunaskan hutang kad kredit selain pendapatan semasa diterima habis, akibatnya mereka bukan sahaja perlu ikat perut dan berpuasa selepas seminggu raya.
Bahkan, ada yang tidak mampu untuk menjelaskan ansuran bulanan rumah, kereta, perbelanjaan keluarga dan pelbagai bil lain.
BERHUTANG?
Paling membimbangkan, apabila terdapatnya trend untuk berhutang dengan ah long disebabkan kad kredit tidak cukup. Perkembangan ini adalah satu senario tidak sihat, kerana telah banyak kali laporan media mengenainya didedahkan.
Tetapi, mereka (segelintir) bagaikan tidak takut dan tidak ambil peduli, belajar daripada mangsa sebelum ini.
"Saya pernah dimaklumkan terdapat ramai orang datang ke syarikat peminjam wang tidak berlesen untuk mendapatkan bantuan kewangan. Malah, syarikat itu tidak menang tangan melayan pelanggan yang datang.
"Ini menunjukkan ramai orang menghadapi masalah kewangan sebagai persiapan menyambut perayaan", katanya.
Semua ini, merungkai kepada persoalan perlukah berbelanja boros sehingga berhutang keliling-pinggang, menggadaikan nyawa sendiri hanya semata-mata menyambut perayaan?
Berbaloikah untuk merasai kenikmatan sementara disebabkan ingin bergaya kereta baharu, telefon baharu sedangkan ia di luar kemampuan sehingga perlu ikat perut?
Persoalan dan senario ini perlu diambil perhatian serius, ujar Mohd Yusof.
Berdasarkan kajian yang pernah dijalankan FOMCA, menunjukkan 37 peratus pekerja muda berbelanja di luar tahap kemampuan masing-masing.
Manakala, 47 peratus responden menggunakan 30 peratus daripada pendapatan mereka untuk membayar hutang.
HUTANG DAN MUFLIS
Sikap suka berhutang ini, boleh menjurus mereka kepada muflis.
Data Jabatan Insolvensi Malaysia menunjukkan bahawa 23,397 individu yang diisytiharkan muflis sepanjang tahun 2007 sehingga September 2013 adalah dalam lingkungan umur 25 hingga 34 tahun.
Lebih membimbangkan, apabila ada antara mereka yang belum lagi genap mencapai usia 25 tahun, tetapi berada dalam kemelut kebankrapan.
"Kesedaran masyarakat tentang pengurusan kewangan masih rendah. Ini kerana, pendidikan kewangan pengguna kurang diterapkan dalam pendidikan sekolah.
"Cuma, sejak beberapa tahun kebelakangan ini timbul usaha pelbagai pihak mengadakan program pendidikan pengurusan kewangan. Hal ini timbul, apabila Jabatan Insolvensi Malaysia melaporkan terdapat 61 orang diisytiharkan muflis setiap hari", katanya.
Kurang pengetahuan itu membuatkan ramai yang gagal membuat perancangan ataupun bajet untuk menghadapi perayaan.
Menurut Ketua Cawangan Agensi Kaunseling dan Pengurusan Kredit Johor Baharu, Mohd Nasir Mustafa, agak menyedihkan apabila ada antaranya tidak tahu apa yang dimaksudkan 'bajet'.
Sedangkan, bajet atau perancangan musim perayaan ini sangat mudah untuk dibuat dan dilaksanakan kerana hanya berlaku setahun sekali dan ada masa untuk membuat persediaan menyimpan.
SEDIA MEMBANTU
Bagi menanganinya, Agensi Kaunseling dan Pengurusan Kredit (AKPK) sedia membantu orang ramai menjadi pengguna bijak.
Pelbagai program dianjurkan selaras dengan peranannya membantu individu menguasai situasi kewangan mereka dan mencapai ketenangan minda hasil daripada penggunaan kredit secara bijak.
Antaranya program Power, yang khusus kepada golongan muda, pengurusan kewangan peribadi dan kaunseling turut disediakan.
"Tidak salah berbelanja tetapi haruslah mengikut kemampuan masing-masing. Cuba elakkan daripada terpengaruh dengan persekitaran.
"Sekurang-kurangnya, kita perlu memperuntukkan 10 peratus daripada gaji untuk menyimpan bagi menghadapi saat kecemasan", katanya.
-- BERNAMA
Article from BERNAMA, 21 July 2014
KUALA LUMPUR (Bernama) -- Her furniture was in good condition - its colours still bright and its structure still solid. The curtains in the two-storey house still look like new, too.
In fact, everything looked fine. Nothing was old, ruined, or faded.
"Abang, let's just change our sofa set. The design is outdated. I am embarrassed to let our guests see it", Sofia complained.
Her irrational request was undoubtedly met with her husband's disapproval. An annoyed Sofia tried to come up with other excuses to buy new furniture.
This is the short sketch on wastefulness when spending for Hari Raya, which was aired on television recently.
Although it was meant to be humorous, Sofia's story is all too familiar in today's society. Many believe that it is alright to spend freely in celebrating upcoming festivals. Few realise how detrimental such wastefulness can be.
DISCOUNTS AND GIMMICKS
It cannot be denied shopping centres too tend to take advantage of upcoming holidays and festivals by offering incentives to consumers so that they spend big.
Those on a different budget have the option of visiting the numerous bazaars set up during Ramadan selling items like tablecloth, traditional clothes and "kuih raya" (cookies).
These traders are simply competing with each other in the bid to push up sales.
Some place hefty discounts, others put on "raya" songs to get visitors in the buying mood, while others resort to other gimmicks.
Taglines like "buy now, pay later!" and online promotions can prompt many to make hasty decisions and spend beyond their means.
"Malaysians tend to celebrate Aidilfitri or other festivals on a grand scale. They would buy new clothes, change their furniture and other items.
"Some go overboard with the spending and find themselves in a financial quagmire after Aidilfitri", said Mohd Yusof Abdul Rahman, the communications director of the Federation of Malaysian Consumer Associations (Fomca).
SPEND FIRST, THINK LATER
The typical mentality among these big spenders is that "raya only comes once a year", so why not spend a bit more.
Those with poor budget management sometimes fail to maximise the benefit of the early disbursement of salary and the additional raya bonus.
They will spend to their last ringgit, and continue their shopping frenzy with credit cards, without sparing a thought to the possibility of running a serious debt.
"People tend to overspend when they don't pay by cash.
"It would not be a problem if they can manage their debts well. But what if they fail? Thus would it be better to use cash or debit card", asked Mohd Yusof.
Failing to settle credit card debts does not only mean that they may have to tighten their belts by the end of the month. It could also mean that they will not be able to pay for their house and car installments, utility bills and other recurring monthly expenditure.
IN DEBT?
More worrying is the trend to borrow from "ah longs" (loan sharks) because they have exceeded their credit card limits. This is an unhealthy development that can lead to serious consequences, as often highlighted in the media.
"I have been told that an overwhelming number of people go to unlicensed money lenders prior to the festive season.
"This shows that people are running themselves into a debt in preparing for the celebration", he said.
This begs the question whether taking such risks in the name of celebrating a festival are all that necessary.
Is it worth it to borrow money to spend on a new car or a new phone for Hari Raya, at the risk of losing one's life to moneylending thugs?
Mohd Yusof said a survey by Fomca revealed that 37 per cent of young people spend outside their means.
Meanwhile, 47 per cent of respondents use 30 per cent of their earnings to repay loans.
BANKRUPTCY
Those who like to pile on debts may soon find themselves on the brink of
bankruptcy.
The Malaysia Department of Insolvency showed that 23,397 people who were declared bankrupt from 2007 to September 2013 were between 25 to 34 years old.
Even more worrisome is that there are those who have yet to reach 25 years old, but are already bankrupt.
"Societal awareness on financial management is still low. This is because it is
hardly impressed upon in school.
"It is only in the recent years that there have been programmes on financial
management education. This came about after the Insolvency Department reported that 61 people are declared bankrupt everyday", he said.
Meanwhile, the Credit Counselling and Debt Management Agency (AKPK) Head for Johor Bahru, Mohd Nasir Mustafa said the worse thing was that some of them did not even know what a budget meant.
This is despite how easy it is to budget for the festive season, considering it only occurred once a year, with ample time to save for the celebration.
READY TO HELP
To address this problem, AKPK is ready to help the public become smart
consumers.
The agency launched many programmes to help individuals take charge of their financial situation and gain peace of mind due to wise credit management.
Among them is the Power programme, aimed at helping the young manage their personal finances as well as provide counselling services for them.
"It is not wrong to spend, as long as it is within one's means. Try not to succumb to the temptation.
"We need to allocate at least 10 per cent of our salary for savings and emergencies", he said.
Article from BERNAMA, 21 July 2014
KUALA LUMPUR (Bernama) -- Her furniture was in good condition - its colours still bright and its structure still solid. The curtains in the two-storey house still look like new, too.
In fact, everything looked fine. Nothing was old, ruined, or faded.
"Abang, let's just change our sofa set. The design is outdated. I am embarrassed to let our guests see it", Sofia complained.
Her irrational request was undoubtedly met with her husband's disapproval. An annoyed Sofia tried to come up with other excuses to buy new furniture.
This is the short sketch on wastefulness when spending for Hari Raya, which was aired on television recently.
Although it was meant to be humorous, Sofia's story is all too familiar in today's society. Many believe that it is alright to spend freely in celebrating upcoming festivals. Few realise how detrimental such wastefulness can be.
DISCOUNTS AND GIMMICKS
It cannot be denied shopping centres too tend to take advantage of upcoming holidays and festivals by offering incentives to consumers so that they spend big.
Those on a different budget have the option of visiting the numerous bazaars set up during Ramadan selling items like tablecloth, traditional clothes and "kuih raya" (cookies).
These traders are simply competing with each other in the bid to push up sales.
Some place hefty discounts, others put on "raya" songs to get visitors in the buying mood, while others resort to other gimmicks.
Taglines like "buy now, pay later!" and online promotions can prompt many to make hasty decisions and spend beyond their means.
"Malaysians tend to celebrate Aidilfitri or other festivals on a grand scale. They would buy new clothes, change their furniture and other items.
"Some go overboard with the spending and find themselves in a financial quagmire after Aidilfitri", said Mohd Yusof Abdul Rahman, the communications director of the Federation of Malaysian Consumer Associations (Fomca).
SPEND FIRST, THINK LATER
The typical mentality among these big spenders is that "raya only comes once a year", so why not spend a bit more.
Those with poor budget management sometimes fail to maximise the benefit of the early disbursement of salary and the additional raya bonus.
They will spend to their last ringgit, and continue their shopping frenzy with credit cards, without sparing a thought to the possibility of running a serious debt.
"People tend to overspend when they don't pay by cash.
"It would not be a problem if they can manage their debts well. But what if they fail? Thus would it be better to use cash or debit card", asked Mohd Yusof.
Failing to settle credit card debts does not only mean that they may have to tighten their belts by the end of the month. It could also mean that they will not be able to pay for their house and car installments, utility bills and other recurring monthly expenditure.
IN DEBT?
More worrying is the trend to borrow from "ah longs" (loan sharks) because they have exceeded their credit card limits. This is an unhealthy development that can lead to serious consequences, as often highlighted in the media.
"I have been told that an overwhelming number of people go to unlicensed money lenders prior to the festive season.
"This shows that people are running themselves into a debt in preparing for the celebration", he said.
This begs the question whether taking such risks in the name of celebrating a festival are all that necessary.
Is it worth it to borrow money to spend on a new car or a new phone for Hari Raya, at the risk of losing one's life to moneylending thugs?
Mohd Yusof said a survey by Fomca revealed that 37 per cent of young people spend outside their means.
Meanwhile, 47 per cent of respondents use 30 per cent of their earnings to repay loans.
BANKRUPTCY
Those who like to pile on debts may soon find themselves on the brink of
bankruptcy.
The Malaysia Department of Insolvency showed that 23,397 people who were declared bankrupt from 2007 to September 2013 were between 25 to 34 years old.
Even more worrisome is that there are those who have yet to reach 25 years old, but are already bankrupt.
"Societal awareness on financial management is still low. This is because it is
hardly impressed upon in school.
"It is only in the recent years that there have been programmes on financial
management education. This came about after the Insolvency Department reported that 61 people are declared bankrupt everyday", he said.
Meanwhile, the Credit Counselling and Debt Management Agency (AKPK) Head for Johor Bahru, Mohd Nasir Mustafa said the worse thing was that some of them did not even know what a budget meant.
This is despite how easy it is to budget for the festive season, considering it only occurred once a year, with ample time to save for the celebration.
READY TO HELP
To address this problem, AKPK is ready to help the public become smart
consumers.
The agency launched many programmes to help individuals take charge of their financial situation and gain peace of mind due to wise credit management.
Among them is the Power programme, aimed at helping the young manage their personal finances as well as provide counselling services for them.
"It is not wrong to spend, as long as it is within one's means. Try not to succumb to the temptation.
"We need to allocate at least 10 per cent of our salary for savings and emergencies", he said.
Jul 21, 2014 | financialmanagement
Article from BERNAMA, 21 July 2014
KUALA LUMPUR (Bernama) -- Her furniture was in good condition - its colours still bright and its structure still solid. The curtains in the two-storey house still look like new, too.
In fact, everything looked fine. Nothing was old, ruined, or faded.
"Abang, let's just change our sofa set. The design is outdated. I am embarrassed to let our guests see it", Sofia complained.
Her irrational request was undoubtedly met with her husband's disapproval. An annoyed Sofia tried to come up with other excuses to buy new furniture.
This is the short sketch on wastefulness when spending for Hari Raya, which was aired on television recently.
Although it was meant to be humorous, Sofia's story is all too familiar in today's society. Many believe that it is alright to spend freely in celebrating upcoming festivals. Few realise how detrimental such wastefulness can be.
DISCOUNTS AND GIMMICKS
It cannot be denied shopping centres too tend to take advantage of upcoming holidays and festivals by offering incentives to consumers so that they spend big.
Those on a different budget have the option of visiting the numerous bazaars set up during Ramadan selling items like tablecloth, traditional clothes and "kuih raya" (cookies).
These traders are simply competing with each other in the bid to push up sales.
Some place hefty discounts, others put on "raya" songs to get visitors in the buying mood, while others resort to other gimmicks.
Taglines like "buy now, pay later!" and online promotions can prompt many to make hasty decisions and spend beyond their means.
"Malaysians tend to celebrate Aidilfitri or other festivals on a grand scale. They would buy new clothes, change their furniture and other items.
"Some go overboard with the spending and find themselves in a financial quagmire after Aidilfitri", said Mohd Yusof Abdul Rahman, the communications director of the Federation of Malaysian Consumer Associations (Fomca).
SPEND FIRST, THINK LATER
The typical mentality among these big spenders is that "raya only comes once a year", so why not spend a bit more.
Those with poor budget management sometimes fail to maximise the benefit of the early disbursement of salary and the additional raya bonus.
They will spend to their last ringgit, and continue their shopping frenzy with credit cards, without sparing a thought to the possibility of running a serious debt.
"People tend to overspend when they don't pay by cash.
"It would not be a problem if they can manage their debts well. But what if they fail? Thus would it be better to use cash or debit card", asked Mohd Yusof.
Failing to settle credit card debts does not only mean that they may have to tighten their belts by the end of the month. It could also mean that they will not be able to pay for their house and car installments, utility bills and other recurring monthly expenditure.
IN DEBT?
More worrying is the trend to borrow from "ah longs" (loan sharks) because they have exceeded their credit card limits. This is an unhealthy development that can lead to serious consequences, as often highlighted in the media.
"I have been told that an overwhelming number of people go to unlicensed money lenders prior to the festive season.
"This shows that people are running themselves into a debt in preparing for the celebration", he said.
This begs the question whether taking such risks in the name of celebrating a festival are all that necessary.
Is it worth it to borrow money to spend on a new car or a new phone for Hari Raya, at the risk of losing one's life to moneylending thugs?
Mohd Yusof said a survey by Fomca revealed that 37 per cent of young people spend outside their means.
Meanwhile, 47 per cent of respondents use 30 per cent of their earnings to repay loans.
BANKRUPTCY
Those who like to pile on debts may soon find themselves on the brink of
bankruptcy.
The Malaysia Department of Insolvency showed that 23,397 people who were declared bankrupt from 2007 to September 2013 were between 25 to 34 years old.
Even more worrisome is that there are those who have yet to reach 25 years old, but are already bankrupt.
"Societal awareness on financial management is still low. This is because it is
hardly impressed upon in school.
"It is only in the recent years that there have been programmes on financial
management education. This came about after the Insolvency Department reported that 61 people are declared bankrupt everyday", he said.
Meanwhile, the Credit Counselling and Debt Management Agency (AKPK) Head for Johor Bahru, Mohd Nasir Mustafa said the worse thing was that some of them did not even know what a budget meant.
This is despite how easy it is to budget for the festive season, considering it only occurred once a year, with ample time to save for the celebration.
READY TO HELP
To address this problem, AKPK is ready to help the public become smart
consumers.
The agency launched many programmes to help individuals take charge of their financial situation and gain peace of mind due to wise credit management.
Among them is the Power programme, aimed at helping the young manage their personal finances as well as provide counselling services for them.
"It is not wrong to spend, as long as it is within one's means. Try not to succumb to the temptation.
"We need to allocate at least 10 per cent of our salary for savings and emergencies", he said.
Article from Borneo Post, 27 July 2014
SAM and Ling were in a relationship. They met when they were both students at a local college.
After dating for a couple of years, Ling asked Sam to become the guarantor for her hire purchase (HP) loan.
Sam agreed immediately and signed the guarantee without hesitation.
As Sam decided to do this out of love and affection, he did not seek advice from anyone before signing the guarantee.
Moreover, Sam was confident Ling would repay the HP loan on schedule and they would be married soon.
Three months later, Ling started defaulting on her repayments.
Sam helped pay her arrears – until he found out Ling was engaged to be married to another man.
Shocked and broken-hearted, he broke off contact with her, changed his job and moved to another state.
Unknown to Sam, Ling continued to default on her HP loan repayments and changed jobs and addresses frequently.
As Ling did not service her loan, the financial institution repossessed and auctioned her car. After the sale, there was still a shortfall of RM45,000 owing to the financier.
As Ling could not pay up, the financial institution demanded the shortfall from Sam instead as he was the guarantor.
However, even for Sam, the shortfall was too big an amount to settle. And because of this, the financial institution initiated legal proceedings against Sam to recover the debt.
Worried about his financial predicament, Sam turned to the Credit Counselling and Dept Management Agency (AKPK) for help.
This case study on a guatantor was made by AKPK.
Now, how does the Agency help guarantors facing legal action as a result of borrowers’ failures to service their loans?
AKPK Sarawak region head Marlene Margaret Nichol said as long as the guarantor had not reached an advanced stage of litigation (creditor’s petition stage in a bankruptcy proceedings), the Agency could help negotiate with financial institutions a repayment schedule that is within the guarantor’s capability to pay.
“This means the guarantor will be placed in our Debt Management Programme (DMP). The financial institutions will place a stay on legal action for borrowers who enrol in the DMP,” she explained.
Although statistics of guarantors, helped by AKPK in Sarawak, are not available, many of them have approached and received asistance from the Agency.
To those guarantors facing such a financial predicament but have no way out, Margaret advises them to approach AKPK for assistance.
“We can negotiate with the financial institutions on their behalf as long as they fulfill the eligibility criteria to be placed in the Debt Management Programme (DMP).
“AKPK wishes to remind individuals that becoming a guarantor is very risky. Think first before agreeing to become one. Ensure that you are guaranteeing a loan for a productive purpose and the borrower is capable of repaying the loan.”
Margaret said lenders would normally request for a guarantor if a borrower’s credit-worthiness was questionable.
She noted that although not the principal borrower, a guarantor is still responsible for the unpaid portion of the loan, including interest, if the principal borrower defaults.
The guarantee for the borrower’s obligation would last until the full settlement of the loan, she said, adding that a guarantor could not be discharged without the full settlement of the loan or prior to obtaining the lender’s consent.
Many people think a guarantor only provides a reference of good character of the borrower and is not legally bound to pay back the loan if the borrower cannot or will not pay.
Margaret said this is a wrong perception.
“Guarantors must be aware of their rights. There are certain rights accorded a person acting as a guarantor before and after the contract of guarantee is signed.”
She pointed out that one of the rights of a guarantor was to be indemnified by the borrower for any payment made to the financial institution.
This means a guarantor can sue the borrower for the amount the former has paid to the financial institution.
Margaret said Bank Negara Malaysia, in collaboration with the Association of Banks in Malaysia, had produced a “banking info” booklet on guarantors to provide information on the details and implications of guarantees given by individuals.
“It is aimed at increasing public understanding on guarantees,” she added.
According to her, the booklet gives consumers guidelines on legal requirements and rights and liabilities of a guarantor as well as highlights the important issues a person should know before agreeing to become a guarantor.
A guarantee, as defined in the booklet, is a legal contract that binds a person to pay the debt of the borrower if the borrower fails to do so.
The financial institution can sue the person acting as the guarantor when the borrower does not repay the debt.
Anyone can be a guarantor as long as he or she meets the legal requirements to be a guarantor.
However, since a guarantor is liable to pay the debts of a defaulting borrower, one should consider becoming a guarantor only if one is sure one can pay the borrower’s debts in the unfortunate event the borrower fails to do so.
A person who becomes a guarantor straightaway has liabilities. The extent of a guarantor’s liabilities will be as specified in the guarantee document.
As stated in the booklet, a guarantor may be held liable for the liabilities of the borrower in accordance with the terms of the guarantee document.
Unfortunately, more often than not, guarantors willingly sign the contract of guarantee without fully realising the impact it may have in the future.
The booklet notes it is extremely important for a prospective guarantor to read and understand the contract of guarantee before signing.
“It’s also imperative for the prospective guarantors to obtain independent legal advice before affixing their signatures on the contract.
“This will ensure they are aware of the true nature of the document and its legal implications – for example the guarantors’ rights and liabilities under the guarantees, especially if the financial institution changes the terms and conditions during the tenure of the loan.”
The booklet also reminds consumers not to sign any guarantee if they:
§ Do not have a financial, business or moral interest in the transaction and are uncertain as to the nature of the transaction.
§ Have doubts as to the ability or integrity of the borrower.
§ Feel they are under undue pressure or duress to do so
§ Do not understand the terms of the guarantee and do not have an independent party explaining it to them.
§ Believe they have no capacity to settle the debts of the borrowers if the latter fail to pay.
§ Potential guarantors also ought to know a loan can be guaranteed by one or more guarantors.
However, this does not mean the liabilities of the guarantors are shared equally among themselves. The financial institution has the right to recover the debt wholly or partially from any of the guarantors.
Under a joint guarantee, upon the death of one of the guarantors, the obligations under the guarantee pass to the surviving guarantors.
Also, under the joint and several guarantees, upon the death of one of the guarantors, the estate of the deceased guarantor will remain liable under the guarantee together with the other guarantors.
AKPK, a wholly owned subsidiary of Bank Negera Malaysia, offers free services not just to borrowers but also potential borrowers, including guarantors.
It offers financial education on the responsible use of credit and basic money management skills.
Its financial education programmes include ad-hoc tailor-made talks and briefings to various target groups, a personal financial management education programme (which normally targets university students) and the POWER! programme, designed to equip individuals with essential financial knowledge and ability to make responsible financial decisions.
Its counselling and advice on financial management include financial budgeting to manage expenses.
AKPK also offers DMP to assist financial distressed consumers in regaining their financial control.
“Borrowers, potential borrowers and guarantors in Sarawak who require our services can come forward to AKPK Sarawak Region office at Bangunan Bank Negara Malaysia here anytime during week days,” Margaret said.
Individual borrowers can seek AKPK’s assistance in rescheduling their house loans, hire purchase loans and personal loans from, or outstanding credit-charge card balances due to, financial service providers under the purview of Bank Negara Malaysia.
Article from Borneo Post, 27 July 2014
SAM and Ling were in a relationship. They met when they were both students at a local college.
After dating for a couple of years, Ling asked Sam to become the guarantor for her hire purchase (HP) loan.
Sam agreed immediately and signed the guarantee without hesitation.
As Sam decided to do this out of love and affection, he did not seek advice from anyone before signing the guarantee.
Moreover, Sam was confident Ling would repay the HP loan on schedule and they would be married soon.
Three months later, Ling started defaulting on her repayments.
Sam helped pay her arrears – until he found out Ling was engaged to be married to another man.
Shocked and broken-hearted, he broke off contact with her, changed his job and moved to another state.
Unknown to Sam, Ling continued to default on her HP loan repayments and changed jobs and addresses frequently.
As Ling did not service her loan, the financial institution repossessed and auctioned her car. After the sale, there was still a shortfall of RM45,000 owing to the financier.
As Ling could not pay up, the financial institution demanded the shortfall from Sam instead as he was the guarantor.
However, even for Sam, the shortfall was too big an amount to settle. And because of this, the financial institution initiated legal proceedings against Sam to recover the debt.
Worried about his financial predicament, Sam turned to the Credit Counselling and Dept Management Agency (AKPK) for help.
This case study on a guatantor was made by AKPK.
Now, how does the Agency help guarantors facing legal action as a result of borrowers’ failures to service their loans?
AKPK Sarawak region head Marlene Margaret Nichol said as long as the guarantor had not reached an advanced stage of litigation (creditor’s petition stage in a bankruptcy proceedings), the Agency could help negotiate with financial institutions a repayment schedule that is within the guarantor’s capability to pay.
“This means the guarantor will be placed in our Debt Management Programme (DMP). The financial institutions will place a stay on legal action for borrowers who enrol in the DMP,” she explained.
Although statistics of guarantors, helped by AKPK in Sarawak, are not available, many of them have approached and received asistance from the Agency.
To those guarantors facing such a financial predicament but have no way out, Margaret advises them to approach AKPK for assistance.
“We can negotiate with the financial institutions on their behalf as long as they fulfill the eligibility criteria to be placed in the Debt Management Programme (DMP).
“AKPK wishes to remind individuals that becoming a guarantor is very risky. Think first before agreeing to become one. Ensure that you are guaranteeing a loan for a productive purpose and the borrower is capable of repaying the loan.”
Margaret said lenders would normally request for a guarantor if a borrower’s credit-worthiness was questionable.
She noted that although not the principal borrower, a guarantor is still responsible for the unpaid portion of the loan, including interest, if the principal borrower defaults.
The guarantee for the borrower’s obligation would last until the full settlement of the loan, she said, adding that a guarantor could not be discharged without the full settlement of the loan or prior to obtaining the lender’s consent.
Many people think a guarantor only provides a reference of good character of the borrower and is not legally bound to pay back the loan if the borrower cannot or will not pay.
Margaret said this is a wrong perception.
“Guarantors must be aware of their rights. There are certain rights accorded a person acting as a guarantor before and after the contract of guarantee is signed.”
She pointed out that one of the rights of a guarantor was to be indemnified by the borrower for any payment made to the financial institution.
This means a guarantor can sue the borrower for the amount the former has paid to the financial institution.
Margaret said Bank Negara Malaysia, in collaboration with the Association of Banks in Malaysia, had produced a “banking info” booklet on guarantors to provide information on the details and implications of guarantees given by individuals.
“It is aimed at increasing public understanding on guarantees,” she added.
According to her, the booklet gives consumers guidelines on legal requirements and rights and liabilities of a guarantor as well as highlights the important issues a person should know before agreeing to become a guarantor.
A guarantee, as defined in the booklet, is a legal contract that binds a person to pay the debt of the borrower if the borrower fails to do so.
The financial institution can sue the person acting as the guarantor when the borrower does not repay the debt.
Anyone can be a guarantor as long as he or she meets the legal requirements to be a guarantor.
However, since a guarantor is liable to pay the debts of a defaulting borrower, one should consider becoming a guarantor only if one is sure one can pay the borrower’s debts in the unfortunate event the borrower fails to do so.
A person who becomes a guarantor straightaway has liabilities. The extent of a guarantor’s liabilities will be as specified in the guarantee document.
As stated in the booklet, a guarantor may be held liable for the liabilities of the borrower in accordance with the terms of the guarantee document.
Unfortunately, more often than not, guarantors willingly sign the contract of guarantee without fully realising the impact it may have in the future.
The booklet notes it is extremely important for a prospective guarantor to read and understand the contract of guarantee before signing.
“It’s also imperative for the prospective guarantors to obtain independent legal advice before affixing their signatures on the contract.
“This will ensure they are aware of the true nature of the document and its legal implications – for example the guarantors’ rights and liabilities under the guarantees, especially if the financial institution changes the terms and conditions during the tenure of the loan.”
The booklet also reminds consumers not to sign any guarantee if they:
§ Do not have a financial, business or moral interest in the transaction and are uncertain as to the nature of the transaction.
§ Have doubts as to the ability or integrity of the borrower.
§ Feel they are under undue pressure or duress to do so
§ Do not understand the terms of the guarantee and do not have an independent party explaining it to them.
§ Believe they have no capacity to settle the debts of the borrowers if the latter fail to pay.
§ Potential guarantors also ought to know a loan can be guaranteed by one or more guarantors.
However, this does not mean the liabilities of the guarantors are shared equally among themselves. The financial institution has the right to recover the debt wholly or partially from any of the guarantors.
Under a joint guarantee, upon the death of one of the guarantors, the obligations under the guarantee pass to the surviving guarantors.
Also, under the joint and several guarantees, upon the death of one of the guarantors, the estate of the deceased guarantor will remain liable under the guarantee together with the other guarantors.
AKPK, a wholly owned subsidiary of Bank Negera Malaysia, offers free services not just to borrowers but also potential borrowers, including guarantors.
It offers financial education on the responsible use of credit and basic money management skills.
Its financial education programmes include ad-hoc tailor-made talks and briefings to various target groups, a personal financial management education programme (which normally targets university students) and the POWER! programme, designed to equip individuals with essential financial knowledge and ability to make responsible financial decisions.
Its counselling and advice on financial management include financial budgeting to manage expenses.
AKPK also offers DMP to assist financial distressed consumers in regaining their financial control.
“Borrowers, potential borrowers and guarantors in Sarawak who require our services can come forward to AKPK Sarawak Region office at Bangunan Bank Negara Malaysia here anytime during week days,” Margaret said.
Individual borrowers can seek AKPK’s assistance in rescheduling their house loans, hire purchase loans and personal loans from, or outstanding credit-charge card balances due to, financial service providers under the purview of Bank Negara Malaysia.
Jul 27, 2014 | financialmanagement
Article from Borneo Post, 27 July 2014
SAM and Ling were in a relationship. They met when they were both students at a local college.
After dating for a couple of years, Ling asked Sam to become the guarantor for her hire purchase (HP) loan.
Sam agreed immediately and signed the guarantee without hesitation.
As Sam decided to do this out of love and affection, he did not seek advice from anyone before signing the guarantee.
Moreover, Sam was confident Ling would repay the HP loan on schedule and they would be married soon.
Three months later, Ling started defaulting on her repayments.
Sam helped pay her arrears – until he found out Ling was engaged to be married to another man.
Shocked and broken-hearted, he broke off contact with her, changed his job and moved to another state.
Unknown to Sam, Ling continued to default on her HP loan repayments and changed jobs and addresses frequently.
As Ling did not service her loan, the financial institution repossessed and auctioned her car. After the sale, there was still a shortfall of RM45,000 owing to the financier.
As Ling could not pay up, the financial institution demanded the shortfall from Sam instead as he was the guarantor.
However, even for Sam, the shortfall was too big an amount to settle. And because of this, the financial institution initiated legal proceedings against Sam to recover the debt.
Worried about his financial predicament, Sam turned to the Credit Counselling and Dept Management Agency (AKPK) for help.
This case study on a guatantor was made by AKPK.
Now, how does the Agency help guarantors facing legal action as a result of borrowers’ failures to service their loans?
AKPK Sarawak region head Marlene Margaret Nichol said as long as the guarantor had not reached an advanced stage of litigation (creditor’s petition stage in a bankruptcy proceedings), the Agency could help negotiate with financial institutions a repayment schedule that is within the guarantor’s capability to pay.
“This means the guarantor will be placed in our Debt Management Programme (DMP). The financial institutions will place a stay on legal action for borrowers who enrol in the DMP,” she explained.
Although statistics of guarantors, helped by AKPK in Sarawak, are not available, many of them have approached and received asistance from the Agency.
To those guarantors facing such a financial predicament but have no way out, Margaret advises them to approach AKPK for assistance.
“We can negotiate with the financial institutions on their behalf as long as they fulfill the eligibility criteria to be placed in the Debt Management Programme (DMP).
“AKPK wishes to remind individuals that becoming a guarantor is very risky. Think first before agreeing to become one. Ensure that you are guaranteeing a loan for a productive purpose and the borrower is capable of repaying the loan.”
Margaret said lenders would normally request for a guarantor if a borrower’s credit-worthiness was questionable.
She noted that although not the principal borrower, a guarantor is still responsible for the unpaid portion of the loan, including interest, if the principal borrower defaults.
The guarantee for the borrower’s obligation would last until the full settlement of the loan, she said, adding that a guarantor could not be discharged without the full settlement of the loan or prior to obtaining the lender’s consent.
Many people think a guarantor only provides a reference of good character of the borrower and is not legally bound to pay back the loan if the borrower cannot or will not pay.
Margaret said this is a wrong perception.
“Guarantors must be aware of their rights. There are certain rights accorded a person acting as a guarantor before and after the contract of guarantee is signed.”
She pointed out that one of the rights of a guarantor was to be indemnified by the borrower for any payment made to the financial institution.
This means a guarantor can sue the borrower for the amount the former has paid to the financial institution.
Margaret said Bank Negara Malaysia, in collaboration with the Association of Banks in Malaysia, had produced a “banking info” booklet on guarantors to provide information on the details and implications of guarantees given by individuals.
“It is aimed at increasing public understanding on guarantees,” she added.
According to her, the booklet gives consumers guidelines on legal requirements and rights and liabilities of a guarantor as well as highlights the important issues a person should know before agreeing to become a guarantor.
A guarantee, as defined in the booklet, is a legal contract that binds a person to pay the debt of the borrower if the borrower fails to do so.
The financial institution can sue the person acting as the guarantor when the borrower does not repay the debt.
Anyone can be a guarantor as long as he or she meets the legal requirements to be a guarantor.
However, since a guarantor is liable to pay the debts of a defaulting borrower, one should consider becoming a guarantor only if one is sure one can pay the borrower’s debts in the unfortunate event the borrower fails to do so.
A person who becomes a guarantor straightaway has liabilities. The extent of a guarantor’s liabilities will be as specified in the guarantee document.
As stated in the booklet, a guarantor may be held liable for the liabilities of the borrower in accordance with the terms of the guarantee document.
Unfortunately, more often than not, guarantors willingly sign the contract of guarantee without fully realising the impact it may have in the future.
The booklet notes it is extremely important for a prospective guarantor to read and understand the contract of guarantee before signing.
“It’s also imperative for the prospective guarantors to obtain independent legal advice before affixing their signatures on the contract.
“This will ensure they are aware of the true nature of the document and its legal implications – for example the guarantors’ rights and liabilities under the guarantees, especially if the financial institution changes the terms and conditions during the tenure of the loan.”
The booklet also reminds consumers not to sign any guarantee if they:
§ Do not have a financial, business or moral interest in the transaction and are uncertain as to the nature of the transaction.
§ Have doubts as to the ability or integrity of the borrower.
§ Feel they are under undue pressure or duress to do so
§ Do not understand the terms of the guarantee and do not have an independent party explaining it to them.
§ Believe they have no capacity to settle the debts of the borrowers if the latter fail to pay.
§ Potential guarantors also ought to know a loan can be guaranteed by one or more guarantors.
However, this does not mean the liabilities of the guarantors are shared equally among themselves. The financial institution has the right to recover the debt wholly or partially from any of the guarantors.
Under a joint guarantee, upon the death of one of the guarantors, the obligations under the guarantee pass to the surviving guarantors.
Also, under the joint and several guarantees, upon the death of one of the guarantors, the estate of the deceased guarantor will remain liable under the guarantee together with the other guarantors.
AKPK, a wholly owned subsidiary of Bank Negera Malaysia, offers free services not just to borrowers but also potential borrowers, including guarantors.
It offers financial education on the responsible use of credit and basic money management skills.
Its financial education programmes include ad-hoc tailor-made talks and briefings to various target groups, a personal financial management education programme (which normally targets university students) and the POWER! programme, designed to equip individuals with essential financial knowledge and ability to make responsible financial decisions.
Its counselling and advice on financial management include financial budgeting to manage expenses.
AKPK also offers DMP to assist financial distressed consumers in regaining their financial control.
“Borrowers, potential borrowers and guarantors in Sarawak who require our services can come forward to AKPK Sarawak Region office at Bangunan Bank Negara Malaysia here anytime during week days,” Margaret said.
Individual borrowers can seek AKPK’s assistance in rescheduling their house loans, hire purchase loans and personal loans from, or outstanding credit-charge card balances due to, financial service providers under the purview of Bank Negara Malaysia.
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