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Updates as at 30 December 2022. Subject to amendments and further information.


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Planning for Financial Freedom

Manage your debts wisely

Debt plays an important role in our lives.

As most of us cannot afford to purchase everything in its full amount in cash, we borrow money to buy things such as a house and a car to fulfil our desired goals. If used wisely, debt is a useful tool to help you achieve your financial goals. However, if you take on excessive debts, you may face difficulties meeting repayment obligations which would ultimately get you into financial problems. No matter where you stand in your financial journey in the Four Stages of Life—have just graduated or building wealth for retirement—it’s important to know how to manage your debts.

Remember, it is important to only have manageable debts by living within your means and never over-committing yourself financially. Good debt management will help you reach your financial goals faster while poor debt management will negatively impact your life.


It takes discipline and motivation to manage your debt wisely. Here are some benefits of doing so:

Avoiding Late
Payment and
Penalty Charges

Harassments or
Legal Action

Better Relationships
with Family

Improved Cash
Flow Management

Better Wealth

Borrowing Cost

Credit Standing

Improved Cash Flow Management

If you can keep your debts at manageable levels, you should have more leftover money for savings and thus, have a positive cash flow. Having a positive cash flow is always desirable as you have extra funds available each month to help you build an emergency account, pay down debts and capitalise on good investment opportunities. A positive cash flow can be achieved when you have a budgeting process and follow it closely.

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Better Wealth Management

A big part of building wealth is making wise choices about debt. By managing your debts wisely, you will reduce your liabilities and, at the same time, enhance your net worth. This leads to better wealth management.

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Avoiding Late Payment and Penalty Charges

Be a good paymaster! The better you are at managing your debts, the more you can save from paying various charges.
Take the first step in bettering your financial management by paying your debts on time.

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Reduced Borrowing Cost

You can pay off your debts faster by managing them wisely and constantly monitoring your progress. The faster you pay off all your debts, the more you will save on interest charges.

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Improved Credit Standing

If you can manage your debts well, you are creating a better track record for your future borrowings. This is because your payment history is tracked by the Credit Bureau division. By paying on time, your financial credibility will reflect a good credit score. Whenever you borrow from any licensed financial institution, your debts and repayment records are recorded. Due to this, if you have ever been behind on your payments or defaulted on your loans, it would be more difficult for you to get a loan in the future.

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Avoiding Harassments or Legal Action

To avoid legal action or harassment by your financiers, ensure that you always pay your instalments on time. It is crucial to note that skipping or paying your instalments late will also affect your credit standing. If you think that nobody remembers what you owe them, try skipping a loan instalment. This missed payment will be reflected in your credit score almost immediately!

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Better Relationships with Family

The better you are at managing your debts, the better your relationship would be with family members. Very often, families argue or have misunderstandings over money and other financial matters. With better debt management, your relationship improves not only with your family but also with your friends and co-workers. This leads to a more harmonious environment at home and better productivity at work.

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Interested in Financial Talks &
Corporate Workshops?

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Gain More Insights at
Our Knowledge Centre

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Browse through some of our recommended learning materials right at your fingertips—featuring articles, infographics, videos and e-learning modules. Your financial well-being starts here!

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The world we live in is increasingly complex, especially for the youths, and they will eventually need to take charge of their future and finances. Financial education in the tertiary stage is for those between the ages of 18 to 25 currently pursuing post-secondary education. Providing them with the appropriate financial know-how at this point will build up their competence in dealing with future financial decisions. This module focuses on cash flow management, the importance of savings and setting up a budget, internet banking and other appropriate topics for university and college students.

Entering Workforce

This stage comprises those between the ages of 20 to 30, i.e. mainly those who are just starting out in life. Financial education is essential to this age group as they learn to be independent in most matters especially financial management. In their minds, a car is a want rather than a need, and normally sits at the top of their list of things to acquire. Our Entering Workforce module focuses on understanding the fundamentals of borrowing and the importance of borrowing productively to encourage positive net worth. Financial education at this stage is also aimed at inculcating the habit of managing debts wisely. The module also introduces the fundamentals of investments and the importance of insurance for a better tomorrow.

Starting and Raising a Family

The module for the next life stage is for those who are starting and raising a family. People in this category are approaching that time in their life when they will normally experience important and meaningful life’s milestones: marriage, children and a new home. Designed for those between 30 to 40 years of age, this module will focus on settling unproductive loans while reducing debt commitments as they prepare for retirement. Emphasis will again be placed on the importance of planning for and protecting against uncertainties by talking about the types of financial tools available. They will learn the various types of insurance policies and be able to decide on the best coverage based on their affordability for their precious family. Education will also be given on the appropriate investments that will provide passive income for a better tomorrow.


The transition from working to retiring involves many tough decisions regarding income and lifestyle needs and whether one plans to ease into retirement or otherwise, while considering factors such as wealth management, whether a pension is enjoyed, and EPF balances. These are big decisions with long-term impact on their financial well-being during retirement. To make the best choices, they require sufficient knowledge and intense awareness of how they want to live through their retirement years. Therefore, our pre-retirement module will prepare them for retirement by teaching them the proper use of their investments and review of their portfolio while servicing their insurance policies and settling unproductive debts to improve their net worth positively.

Post – Retirement

You have retired. How would you manage your money now? Considering that the average life expectancy in Malaysia has improved, it is more important now than ever to ensure that you have the financial resources to live a comfortable and happy lifestyle—particularly if you are looking forward to retiring with peace of mind. Taking care of your wealth and making it last are important at this stage. Financial literacy and education is a continuous life lesson that does not end at retirement. Now, more than ever, you need to manage your finances wisely and plan for the unexpected. Our post-retirement module is focused on those who are currently transitioning into retirement or are in the early stages of retirement.

Early Adulthood
Adult – Middle Adulthood