The importance of financial literacy cannot be overstated, especially in times of economic uncertainty. As the world slowly climbs out of the deep financial hole dug by the COVID-19 pandemic, it is vital that people everywhere, including Malaysians, learn how to manage their money wisely and invest for the future.
While we may be tempted to believe we are in complete control of our finances, the RinggitPlus Malaysian Financial Literacy Survey 2022 told a different story. It reported that 53% of respondents believed their savings would last for a maximum of three months. The survey also revealed that a staggering 85% of respondents thought their EPF savings were insufficient for retirement.
Recognising the need for sharpening the financial acumen of Malaysians, the government set in motion the National Strategy for Financial Literacy 2019-2023 to boost the economic well-being of citizens by empowering them with essential knowledge and skills. This action plan is wholly embraced by Quest International University (QIU).
As a progressive, socially conscious institute of higher learning, QIU prides itself on giving back to the community through a diversity of public-service initiatives that harmonise with our Council Chairperson Dato Sri Dr Vijay Eswaran’s vision of raising oneself to help humankind.
Channelling this noble spirit, QIU recently collaborated with Sekolah Jenis Kebangsaan (Tamil) Tanjung Rambutan on an enriching financial literacy workshop for teachers titled ‘Money $ense’.
Hosted by the partner school on 25 November, this workshop was organised by QIU’s SDG Leadership Cluster and led by academics from our Faculty of Business and Management. Our instructors taught participants about managing personal savings and expenses, investing intelligently, borrowing responsibly, and avoiding frauds and scams.
Not only did the attendees gain a better appreciation for sound budgeting practices, but this event also solidified QIU’s standing as a hub of quality financial education.
Moreover, it furthered the University’s mission of contributing to the achievement of the UN’s Sustainable Development Goals, specifically numbers 1, 2, 4, and 17 — no poverty, zero hunger, quality education, and partnerships for the goals, respectively.
Kudos once again to our academics for playing their part in inspiring us all on the path to greater financial security and prosperity!
