KUALA NERUS, 14 May 2025 – Universiti Malaysia Terengganu (UMT), through the Faculty of Business, Economics, and Social Development (FPEPS), has taken a proactive step to nurture a financially literate younger generation by organising a programme called “Financial Dilemma and the Culture of Debt Among the Youth”, taking place today with the participation of 200 Form Six students from across Terengganu.

The programme, led by FPEPS Finance Lecturer Dr Siti Nurain Muhmad, focused on the increasingly concerning issue of debt among youths under the age of 30.

According to Dr Siti Nurain, recent statistics show a rise in the number of young individuals with high levels of debt, while financial awareness in the country remains low, approximately 32 per cent, when compared to the global average of 42 per cent (OECD).

“This phenomenon is driven by the consumerist lifestyle aspired to by today’s younger generation, influenced by social media and the ‘fear of missing out’ (FOMO) culture, which leads them to make purchases for the sake of appearance or social status,” she explained.

She added the situation becomes more critical with the widespread availability of e-commerce platforms offering features such as Buy Now, Pay Later (BNPL), which significantly contributes to young people falling into debt cycles similar to credit card usage.

She further emphasised that universities have a major responsibility in educating the youth to develop good financial awareness and literacy.

“The role of institutions such as universities is vital in providing exposure and understanding to the younger generation regarding financial management. This awareness not only helps them avoid falling into chronic debt, but also enhances their quality of life and happiness index in the long term,” she said during the programme’s opening session.

The programme also gave participants the opportunity to visit the UMT-CGS East Coast Trading Centre and learn the basics of stock investment activities.

“This initiative not only provides early exposure to the realities of the financial and investment world, but also serves as an effort to build a network between the university and pre-university students for future academic opportunities.”

The event is also aligned with UMT’s aspiration to play an active role in empowering communities through inclusive and comprehensive financial education, particularly among teenagers and youths.

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Corporate Communications Office

Universiti Malaysia Terengganu