In the midst of an ongoing pandemic, it is undoubtedly one of the most crucial moments of everyone’s lives when financial constraints come to light. Jobs are lost and everyone is dreading the day they’d receive a pay cut even if they are employed! For many, there’s no backup plan if they experience the issues aforementioned. Well, it’s probably safe to say that financial literacy is indeed important for the masses i.e. the citizens of Malaysia! When it comes to personal finance, a large percentage would be generally clueless when financial terms are being brought up. Some might want to start understanding and reacting accordingly but would not have the necessary resources to attain the information needed. As a result, they might be on the verge of losing out on good investments.
For starters, Malaysians should understand the concept of credit health and lately, there have been issues of poor credit health amongst the younger crowd — leaving them unable to get their loans approved. As we recover from the multi-faceted impacts of Covid-19, it’s finally time to learn about all the financial jargon necessary before another dilemma strikes your life!
Presenting; The Know Money Campaign!
This latest initiative by Experian Information Services (Malaysia) aims to empower Malaysians about the importance of credit health for better personal financial control and management. Launched in conjunction with Credit Health Month in July, Experian would be working with several notable partners such as Agensi Kaunseling & Pengurusan Kredit (AKPK), iMoney and RinggitPlus with high hopes that these partnerships would bolster continuing outreach on financial education. Part of their efforts includes organsing free educational and engaging activities to be rolled out in phases in the coming months.
Addressing the ongoing issue of poor credit health, the Chief Executive Officer of Experian Information Services (Malaysia) Sdn. Bhd., Dawn Lai, said, “The low level of financial literacy, especially awareness around credit health, has always been a challenge for Malaysians, especially the youths. Our latest Experian i-SCORE analysis reinforces an urgent need to educate Malaysians about the importance of credit health. This is critical as the uncertainties around the Covid-19 impacted economy persists, both as a nation and on an individual level. Experian’s Know Money Campaign is part of our long-term commitment to improve financial literacy in Malaysia. Through this campaign, we hope to continually educate Malaysians about the importance of credit health, so they understand that it’s the first and vital step to better personal financial control and management in the long term.”
Unsure on where to start? Well, Experian is also offering consumers a free personal credit report which includes their Experian i-SCORE and Central Credit Reference Information System (CCRIS) data. That would enable you to kick-start your financial literacy journey.
In addition to that, Malaysians would get to enjoy 50% off all other consumer products throughout the month.
Clearly, it is important to earn money but apart from that, learning how to maintain a good credit score and have good knowledge of the Malaysian financial scene is indeed necessary to ensure no arising issues whilst dealing with your hard-earned cash.
To know more, about this campaign, kindly click here to embark on your soon-to-be journey to awareness!