KUALA NERUS, 2 December 2025 — Young people, especially university students, need to be smarter in managing their finances to avoid falling into debt burdens that could jeopardise their future.

Universiti Malaysia Terengganu (UMT) Deputy Vice-Chancellor (Student Affairs and Alumni), Professor Dr. Mohd Izani Mohd Zain, in his welcoming remarks said that efforts to strengthen financial literacy are not only relevant academically but also have a direct impact on students’ well-being.

“Initiatives such as this forum contribute to the overall well-being of students because financial literacy has been identified as one of the main challenges in the Student Well-Being Index conducted by UMT’s Student Affairs and Alumni Office (HEPA). The better they manage their money, the more stable their campus life will be,” he said.

“Young people today face easy access to credit, complex financial commitments, and strong spending temptations. Without solid understanding, they can fall into serious debt problems at a very young age,” he said when speaking at the Financial Literacy Forum organised by the Malaysian Department of Insolvency in collaboration with UMT today.

The forum attended by nearly 400 students from public and private universities was officiated by the Director of Insolvency, Bankruptcy Division of the Department of Insolvency Malaysia, Siti Noor Mazlifah Mokhtar.

Themed “Power of Money, Prevent Bankruptcy, Secure the Future”, the programme held at UMT’s Sultan Mizan Hall also received professional support from various financial and financial-crime prevention agencies. Current issues discussed included the risks of uncontrolled debt and strategies for managing personal finances more wisely.

“Young people today face easy access to credit, complex financial commitments, and strong spending temptations. Without solid understanding, they can fall into serious debt problems at a very young age,” he reiterated.

UMT senior finance lecturer Associate Professor Dr. Mohd Safwan Mohd Nor, who was also a forum panelist, emphasised the importance of financial discipline among students.

“Many students are unaware that overspending beyond their means, such as using ‘buy now pay later’ services or subscription commitments, can grow into a significant debt burden. Financial literacy is not just theory, but it is a life skill that determines future stability,” he said.

Programme participant Amirul Hafez Mohamed Masarik, a UMT Bachelor of Nautical Science and Maritime Transportation student, described the forum as an important exposure for students, especially those interested in entrepreneurship and business.

“Today’s sharing opened my eyes to the real risks when we do not plan our finances properly. For students wanting to venture into business, knowledge such as cash flow, debt management, and spending discipline is crucial so that we do not make financial mistakes at a young age,” he said.

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Corporate Communications Office

Universiti Malaysia Terengganu