By Foo Ming Li

GEORGETOWN. Fri: Fresh graduates are advised to start planning their financial early so that they would not face difficulties in paying debts in the future.

SKiWealth Sdn Bhd director Oo Hui Ying said many people especially fresh graduates did not spend their money wisely, hence led to early bankruptcy.

“Many youngsters will like to buy everything especially once they have started working without thinking of the consequences”.

“It’s fine to think that way, but you must start planning your financial now, so that you will not end up taking many loans and facing difficulties to clear the debts,” she said during a talk on financial planning at Han Chiang College, last week.

Oo said she had a number of clients who normally came to seek help in solving problems due to insufficient funds.

“They did some saving, but the method used was ineffective where they would spend some money and saved only the remaining ones”.

“This is not a good method because we will never know what is happening in the future, for example you might need money when it comes to emergency matters”.

“Thus, we need to set our long-term goals earlier such as marriage planning and buying properties. This is important so that we know how much we can spend monthly in order for us to achieve our goals at the same time,” she said.