KJ: Youths must live within their means

Malaysian youths must live within their means to avoid being trapped in a cycle of debts, said Youth and Sports Minister Khairy Jamaluddin.

Citing data from a Jobstreet survey last year, Khairy said there was a clear mismatch between the actual average salaries of fresh graduates and their expectations.

"They are living the lives of someone who earns RM6,500 but their actual (average) salary is only RM2,500.

"They prioritise their wants above their needs, so they are living beyond their means," he said.

To support the lifestyle, Khairy noted that many youths are becoming increasingly dependent on credit cards and personal loans, with little means or knowledge on how to manage their debts.

"Not only are they spending using credit cards, they are also not paying the loans," he added.

According to the survey, some 30 percent of respondents expected their first salary to be as high as RM6,500 in order to live comfortably, while 68 percent of employers said this amount was "unrealistic" and was the top reasons for unemployment among fresh graduates.

Khairy said this during his speech at the closing ceremony of Bank Negara's three-day Financial Carnival at PWTC Kuala Lumpur.

He said Bank Negara deserves commendations for drawing some 20,000 people to the carnival.

Meanwhile, Khairy told reporters later that youths ought to sign up for Putrajaya's MYCorps International Volunteer Programme which performs humanitarian missions in conflict areas.

"Don't be a 'fake fighter' by joining the Islamic State," the Rembau MP said, adding that he is personally heading to Syria next week to join MYCorps volunteers.

Khairy said this in response to news reports today that two youths, allegedly operating as part of the Islamic State movement, were among three Malaysians killed during a battle in Syria two nights ago.- Mkini