08/06/2025

NATIONAL 3 ON SUNDAY JUNE 8, 2025

Emotional spending habit trapping youths in debt

KUALA Communications Multimedia Commission (MCMC) has clarified that its collection of mobile phone data (MPD) from mobile network operators does not involve access to, processing or disclosure of personally identifiable information (PII). The clarification follows recent media reports questioning the initiative. In a statement, MCMC explained that MPD is used strictly to generate official statistics to support evidence-based policymaking in two key sectors – ICT and tourism. For the ICT sector, the data supports granular statistics such as mobile broadband subscription rates and penetration levels across various administrative divisions, including states, districts, parliamentary constituencies, state assembly areas and local councils. In the tourism sector, MPD helps estimate indicators such as the number of visitors and domestic trips. “The MPD data requested from mobile network operators is anonymised and contains no PII. “Operators may either process the data within their secure environment and submit anonymised, aggregated output to MCMC, or if they lack in-house processing capabilities, send the anonymised data to MCMC for processing. “In both cases, no individual subscriber can be identified through the data collected,” it added. MCMC said the use of MPD as a national statistical source is a government initiative aimed at improving the quality and timeliness of data for policy and planning. The project is being developed in collaboration with the International Telecommunication Union and the UN Committee of Experts on Big Data and Data Science. Over the past two years, MCMC engaged extensively with operators to ensure a shared understanding of data requirements, processes and privacy safeguards. This included the MPD National Workshop held from Sept 2 to 5, 2024, which brought together representatives from the Statistics Department, Communications Ministry, Tourism Ministry and all major mobile operators. “This initiative aligns with international best practices and mirrors projects already implemented in countries such as Indonesia and Brazil, where anonymised telecommunications data is used to enhance national statistics while fully safeguarding user privacy,” it said. – Bernama mobile tracking project: MCMC and No personal data accessed in LUMPUR: The Malaysian

Poor financial literacy, peer pressure and ease of digital payments fuelling impulsive buys: Experts

Ű BY KIRTINEE RAMESH newsdesk@thesundaily.com

PETALING JAYA: Young Malaysians are overspending at alarming rates, driven by rising living costs, emotional triggers and the ease of digital payments. Universiti Teknologi Malaysia psychology professor and deputy dean Dr Siti Aisyah Panatik told theSun that youths, particularly those aged 18 to 30, exhibit distinct spending patterns shaped by urbanisation, lifestyle choices and varying levels of financial literacy. On average, a student in Malaysia spends between RM1,500 and RM1,700 monthly, while a working professional spends approximately RM2,700 to RM2,900. These expenses generally cover essentials such as food, housing, utilities, transport, personal care and healthcare. She noted that risky spending is often driven by impulsivity, sensation-seeking, difficulty delaying gratification and peer comparison. “Many people also use shopping as emotional relief, commonly referred to as retail therapy,” she said. She warned that platforms such as TikTok and Instagram amplify the problem through influencer marketing, lifestyle envy and fear of missing out. “This creates a culture in which material success is equated with happiness,” she said, adding that emotional spending can be difficult to recognise. Warning signs include regretting purchases, shopping when feeling down or consistently spending beyond one’s means. She also said overspending may point to deeper mental health issues such as depression, ADHD or bipolar disorder. “Those with ADHD may act impulsively and struggle with planning, while individuals with depression might shop to boost their mood.” She added that compulsive shopping or oniomania, is now recognised as a behavioural addiction marked by repeated, uncontrollable urges to shop despite negative consequences. Proven psychological techniques, including cognitive behavioural therapy and mindfulness, can help individuals curb emotional spending. Aina, a 25-year-old private sector employee earning RM3,200 a month, admitted she spends over RM2,200 monthly, mostly on food deliveries, online sales and trending beauty or lifestyle items she rarely uses. “I spend RM18 on coffee every other day, RM400 on skincare and makeup I

Siti Aisyah said youths, particularly those aged 18 to 30, exhibit distinct spending patterns shaped by urbanisation, lifestyle choices and varying levels of financial literacy. – MASRY CHE ANI/THESUN

Can), the highlight of the 61st NYD celebration will be officiated by Prime Minister Datuk Seri Anwar Ibrahim, who will also present the 2025 National Premier Youth Award on June 14. The theme reflects the confidence, capability and competitiveness of today’s youths in navigating modern-day challenges, particularly in the digital age. It also aligns with the Madani government’s commitment to youth and just 37% knew how insurance premiums work.” Walker emphasised that financial education should begin early – ideally before the age of seven – when core money attitudes start to form. “Parents play a crucial role by modelling habits such as saving, comparing prices and delaying gratification.” She said Finco promotes practical steps such as tracking monthly expenses, pausing before impulse purchases, recognising emotional triggers and setting aside small amounts for treats to avoid larger splurges. “Teachers must also be equipped to teach financial literacy, especially in the context of digital finance and scams.” To support this, Finco launched the Train-the-Trainers programme in 2024 with the Financial Education Network and the Education Ministry. The initiative aims to train over 10,000 teachers, particularly those working with B40 communities, to help students build financial confidence. “Recognising your financial habits and seeking help – whether from banks, credit card providers or agencies such as the Credit Counselling and Debt Management Agency – can be a powerful first step towards lasting change,” she added.

haven’t even opened, and way too much on things just because they are viral online.” By month’s end, she barely has RM50 left to save. “I keep telling myself I’ll do better next month, but the cycle just repeats. I know I’m living beyond my means but it’s hard to stop when spending feels so easy.” A recent study by the Financial Industry Collective Outreach (Finco) found that poor financial literacy is leaving youths vulnerable to impulse spending and short term gratification. Finco chief executive Clare Walker explained that the convenience of digital financial services creates a “painless” experience that fuels unhealthy habits, particularly among teens. According to its Money SENse 2023 survey, 75% of students aged 16 to 19 have only low to moderate financial knowledge, limiting their ability to make sound long term decisions. “More than 65% admitted they preferred spending for instant gratification over planning for the future.” The survey also revealed that while many youths manage basic financial tasks, they struggle with more complex topics such as investment risks, insurance and income tax. “Only 40% understood investment risks

National Youth Day to highlight Asean unity KUALA LUMPUR: This year’s National Youth Day (NYD) celebration, to be held from June 13 to 15, will feature distinct Asean elements in line with Malaysia’s chairmanship of Asean. young people. “Youths play a crucial role in strengthening Asean’s regional network, particularly in driving future cooperation in economy, leadership, education, technological innovation and social development.

empowerment

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initiatives rooted in core values. The Youth and Sports Ministry, through the National Youth and Sports Department, is targeting four million visitors. In the run-up to the national event, it has activated celebrations at the grassroots level via the Semarak NYD initiative, which kicked off in 113 districts across the country on May 15. – Bernama

The NYD secretariat announced that the programme, set to take place at Dataran Merdeka, includes an Asean pavilion and Asean concert aimed at fostering regional community spirit and cultural appreciation among

“They can also serve as junior ambassadors to elevate Malaysia’s image on the global stage.” Themed “Yakin Boleh” (Believe You