PETALING JAYA: They lived the fast life, a life of Pradas and Guccis. When the cash is out, they max out on their credit cards.
Some even go as far as taking up personal loans to finance overseas trips, buying the latest expensive gadgets and holding lavish weddings.
And before they even turn 30, they are bankrupt.
Malaysias youth are seeing a worrying trend with those aged between 25 and 44 forming the biggest group classified as bankrupt.
They constituted almost 60% of the 94,408 cases reported from 2013 to August, according to the Insolvency Department.
Director-general Datuk Abdul Rahman Putra Taha said there were multiple factors that contributed to the trend, but singled out that many of them just wanted to start their own life.
When th…
Read the full article at: https://www.thestar.com.my/news/nation/2017/12/13/high-life-and-youths-hit-a-new-low-younger-set-not-living-within-their-means-and-are-bankrupt-befor/
