23rd July 2025 - 2 min read
Puchong MP Yeo Bee Yin has called for financial literacy to be formally included in the national school curriculum, emphasising the need to equip young Malaysians with essential money management skills.
Speaking during the debate on the Consumer Credit Bill 2025 in the Dewan Rakyat, Yeo said children and teenagers should be taught the fundamentals of managing personal finances, including budgeting, credit use, and investment awareness.
“I believe that financial literacy is a vital life skill that should be given greater emphasis in the school curriculum,” she said.
She proposed that the Ministry of Finance collaborate with the Ministry of Education to introduce structured financial education in schools.
In addition to curriculum reform, Yeo recommended that the government implement a nationwide public awareness campaign aimed at improving financial literacy among adults.
She noted that financial well-being involves more than just knowing the range of credit products available. It also includes understanding how to allocate income for spending, saving, and investing.
“For example, what percentage should be spent, saved, or invested? I urge Bank Negara and the relevant ministries to launch a large-scale campaign to promote financial literacy among the public,” she said.
The proposal was made in conjunction with the second reading of the Consumer Credit Bill 2025, tabled by Deputy Finance Minister Lim Hui Ying.
The Bill seeks to strengthen regulatory oversight of the consumer credit industry in Malaysia. It includes provisions for regulating Buy Now Pay Later (BNPL) schemes and aims to enhance consumer protection by providing a unified legal framework for credit providers.
RinggitPlus will also be releasing its Malaysian Financial Literacy Survey (RMFLS 2025) soon, offering fresh insights into how Malaysians manage their money and where financial education can make the biggest impact. The findings from the 2024 edition highlighted continued gaps in digital financial literacy despite improvements in overall financial well-being.
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Samuel writes about personal finance and financial news, focusing on how banking updates, policies, and promotions affect everyday money decisions. He enjoys making complicated financial topics easier to follow. Outside of writing, he spends his time watching TV shows and occasionally convincing himself he will only watch one episode.
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