Take second job to tackle household debt, urges AKPK
Published on: Thursday, April 24, 2014
Kuala Lumpur: The Credit Counseling and Debt Management Agency (AKPK) has urged Malaysians to take a second job to help them tackle the high rate of household debt.Chief Executive Officer Koid Swee Lian said those in the teaching line, for example, could give extra classes to earn more money."Teachers could earn more money by giving tuition to students in the evening. By doing that, they could help their spouses in handling the household debt and also the rising cost of living.
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"I also urge the breadwinner, who is the person who earns money to support their family, to share his or her financial problems with the family members so that they will be reminded not to overspend," she told the media after announcing the winners of the Visa Financial Football Malaysia 2014 competition here Wednesday.The grand prize is a trip to the FIFA World Cup in Brazil.In her speech, Koid said people must have proper financial planning, urging them to save for life's surprises or emergencies and to provide for their retirement as well.She said AKPK encounters on a daily basis financially distressed consumers who are clueless about their cash flow, having overspent and lived beyond their means.
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The agency has been helping people through its Debt Management Programme (DMP), and expects to assist more this year.Stay up-to-date by following Daily Express’s Telegram channel.
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It was reported that the growth in household debt in 2013 has slowed down to 11.7 per cent compared to the 13.5 per cent increase seen in 2012. - Bernama
