Buy lower price range vehicles, fresh grads told

Understand financial position as higher car loan payments could lead to bankruptcy, says expert theSun theSundaily graduate Unemployment Employment loans Malaysia

Wong said it is not necessary for fresh graduates to purchase a luxury car to impress their peers.: Fresh graduates and others who are seeking to purchase a vehicle have been advised to look for a second-hand one.

However, the number of bankruptcies caused by car loans has been decreasing since 2019, when it recorded 1,543 cases. “This includes overspending, lack of financial literacy, spending beyond their means, lack of future planning and spending too much on leisure activities,” she toldWong said a fresh graduate, with an income of about RM1,800 per month and who has been employed at the same company for at least six months, can afford to buy a new car priced below RM50,000.

“Once their financial position and goals have been established, a financial roadmap can be developed to achieve their financial objectives. This includes understanding their short-term and long-term aspirations, such as education funding, wealth accumulation and retirement planning,” Wong said.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

theSundaily /  🏆 25. in MY

Philippines Latest News, Philippines Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Two children, adult injured after car falls into gorge in SerendahPETALING JAYA: A car carrying seven people fell into a 10m-deep gorge, injuring three people.
Read more »

Farm Fresh raikan ‘Top Achievers Homedealer’Pengeluar produk tenusu tempatan terbesar Malaysia, Farm Fresh Berhad meraikan Top Achiever Homedealer bagi tahun 2022 di Farm Fresh UPM, hari ini.
Read more »

Microsoft bid to buy games giant faces triple anti-trust threat | The Malaysian InsightCompany embarks on campaign to convince EU, UK and US regulators to back Activision Blizzard deal.
Read more »

[Watch] Woman Cries When Forced To Buy Expensive Flight Ticket To Sabah | TRPDue to a delayed flight from Penang to KLIA, Abby missed the connecting flight to Sabah and had to content with the soaring ticket prices.
Read more »

Panda cubs will not return to China in May, says Zoo NegaraPETALING JAYA: Zoo Negara's panda cubs Yi Yi and Sheng Yi will not be returned to China next month.
Read more »