Insight 1
Insight 1
Youths understand the importance of managing their finances. However, they have yet to take proper action in planning & monitoring it.
52.4% of the youth sets budget for themselves but
only35.4% frequently checks it
How are the youth finances?
61.2% of the youth have savings set aside every month but
merely 30.6% tracks their savings
Did you know that 24.3% of youths set less than 10% of savings aside?
Youths doesn't set aside a specific amount of savings and just save according to their “gut feel”
" I just thought of it, you know. I don’t know, I never really plan. So I just thought, oh, why not just spend half and just save the other half for, you know, maybe my future. "-Aiman
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Aiman says
Oh, actually I haven’t really considered that but if I were to think of one I would say maybe at least 50%. I just find 50% to be a very safe number.
-Loh Chuan Ren
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Loh Chuan Ren says
And when they overspend, they go on extreme means to save.
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"If i overspend, i dont get to eat"
-Daron
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Daron says
" Get a part time job straight away"
- Loh Chuan Ren
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Loh Chuan Ren says
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38%
10%
** percentage calculated base on the number of people choosing such goal as their top 3
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" I am planning to save for my higher education, i want to study at an overseas university. Have to have a set amount of money for things like daily expenses there. Future studies is the key"
-Leticia
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Leticia says
" Further education that is the main one because I am now not doing a diploma, I am only doing a certificate, so I still got my diploma and degree to finance for."
-Sabrina
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Sabrina says
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What are they saving for in the long term?
Most of them are saving for their further education
stable income
Stable income
Further Education
52%
Owning a house