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

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

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