Due to inadequate income, many Malaysians also turn to family and friends to borrow money from to buy essential goods. Photo: AP

Young, low-income Malaysians are living beyond their means and drowning in debt, World Bank says

  • There is a high risk of bankruptcy among young people with limited financial knowledge who borrow money for consumer spending, report says
  • ‘Impulse-buying behaviour, easy access to personal loans and credit card financing’ heighten the risks, particularly among those aged 25 to 34
Topic |   Malaysia

TOP PICKS

Due to inadequate income, many Malaysians also turn to family and friends to borrow money from to buy essential goods. Photo: AP
READ FULL ARTICLE