DENGKIL, Selangor: The habit of saving should be cultivated from a young age by setting aside between 10 and 20 per cent of monthly income or allowances, said Malaysian Takaful Association (MTA) chief executive officer Mohd Radzuan Mohamed.
He said young people, especially higher education institution (IPT) students, are encouraged to participate in financial literacy programmes and utilise resources such as the Credit Counselling and Debt Management Agency (AKPK) to better understand financial management.
“You should also create a monthly budget by listing essential expenses, avoid overspending beyond your means, use credit cards wisely, and refrain from taking unnecessary loans,” he said at the ‘Iftar Bersama Mahasiswa Universiti Teknologi MARA (UiTM)’ event here yesterday.
Mohd Radzuan also advised IPT students to obtain takaful protection as an early safeguard to help ease financial burdens in the future.
Also present were Zurich Takaful Bhd’s Shariah Management Services head Muhammad Abdul Harith Jurimi, and UiTM’s Student Affairs and Industry, Community and Alumni Network (ICAN) deputy director Mahadi Kamaludin.
Regarding the event, Mohd Radzuan said the corporate social responsibility (CSR) programme aimed to strengthen ties and cultural understanding between MTA and UiTM students.
He said other CSR programmes carried out included Ramadan religious talks, and ‘iftar’ and ‘sahur’ with the homeless and Orang Asli community.
He hopes that such CSR initiatives will continue and expand in the future, allowing MTA and industry partners to further strengthen the takaful ecosystem in the country. – BERNAMA
