Teach youngsters how to budget, invest and not treat “buy now, pay later” like a life philosophy.
HERE’S a thought: if I were the finance minister for one day (and honestly, I would slay in that office), I would make Financial Survival 101 a school subject, next to Moral Studies.
Teach youngsters how to budget, invest and not treat “buy now, pay later” like a life philosophy.
You can’t Roblox your way out of bankruptcy, sweethearts.
Imagine children learning to track expenses before they track followers.
A class where the exam question isn’t “Who discovered penicillin?” but “How do you survive KL rent with an RM3,000 salary and a bubble tea addiction?” That is real-life problem solving.
Forget memorising peribahasa, teach them what “Sikit-sikit, lama-lama jadi bukit” actually means for their bank account.
And policymakers, kalau tengah baca ni, come closer – Makcik nak bisik something: Don’t just hand out slogans about “empowering the youth” while ignoring the fact that many can’t even navigate their online banking apps without panicking.
Empower them with skills that pay, not just inspire.
The future workforce cannot run on motivational posters and kopi ais alone, okay?
Let’s be real – if we keep spending like it’s Monopoly money, we’ll end up mortgaging our future just to pass “Go” and collect nothing but regret.
Cute game, terrible life plan.
Well, darlings, it’s time to flip that script because the future isn’t getting any cheaper and our national savings habits are starting to look like a wallet after an 11.11 sale.
The World Bank just stirred the pot
Recently, the World Bank politely suggested Malaysia consider raising the Employees Provident Fund (EPF) withdrawal age from 55 to 65 – you know, to match our “longer life expectancy”.
Cute idea, if you are a spreadsheet.
But here’s the inconvenient truth: at age 54, three out of four Malaysians have less than RM250,000 in their EPF accounts.
That is barely enough to survive 10 years of inflation, let alone fund 30 years of “retirement”, unless you plan to live off kaya toast and family pity.
So yes, raising the withdrawal age may help those with steady jobs and decent balances but what about the gig workers, nasi lemak sellers and freelance photographers?
Telling them to “just work longer” is like telling someone drowning to “swim harder”.
Real solution: Start them young
Instead of panicking about people withdrawing too soon, why not get Malaysians saving earlier?
Fun fact: you can already open an EPF account at 14.
Hardly anyone knows this because it is buried deep in some government FAQ written in six-point font.
So let’s make it compulsory – yes, you heard me – every Malaysian gets an EPF account at 14, when they enter Form Two.
Give it a sexy name, something Gen Z won’t roll their eyes at. “EPF Junior: From Duit Belanja to Dunia Bahagia.” Throw in a TikTok challenge if we must.
Imagine it: every student contributing a token RM5 a month, matched by parents or the government.
Schools could gamify it – “Top saver of the month gets free canteen kuih!” – and by 18, kids would have their first real taste of financial literacy (and not just memorising the Rukun Negara).
What other countries are doing while we are still debating
Let’s take a short world tour, darlings.
Singapore: their Central Provident Fund starts from the first job, with contributions flowing like Milo ais – steady and consistent.
Some parents even open savings plans for their kids from birth.
Australia: the Superannuation scheme begins the moment you start earning, even from part-time teenage jobs.
For teenagers under 18 and work more than 30 hours (and meet other requirements), employers contribute more than 10% of salary; the system practically forces you to save.
UK: children can open a Junior ISA (individual savings account) from birth, which they can’t touch until 18, giving them a glorious head start in adult life.
And here we are, in Malaysia, teaching students about photosynthesis and trigonometry but not about compound interest.
If teenagers can understand TikTok’s algorithm, trust me, they can understand the concept of “the earlier you save, the richer you retire”.
Why 14 is the magic number?
By 14, Malaysian children are already full-fledged digital natives with real spending power.
They splash out on game credits, fashion drops and bubble tea – basically running mini economies funded by Mum and Dad.
So why not channel that hustle into something that actually grows in value?
Financial puberty, that is what we need.
You get your first pimple, you get your first EPF account.
Welcome to adulthood, sweetheart.
And when these early savers hit 24, fresh out of university, they will already have a little nest egg – maybe RM2,000 or more – waiting for them.
That is real money that they didn’t even feel leaving their pockets.
It builds habit, discipline and self-respect – three things TikTok trends can’t buy.
What about the 65 thing?
Okay, fine, the World Bank isn’t totally wrong.
We are living longer; Malaysians’ average life expectancy is now 76 years.
That is almost 20 years post-retirement, which is great news if you have savings, terrifying if you don’t.
So yes, maybe one day raising the withdrawal age will make sense.
But let’s be real – we first need a generation that actually has savings to withdraw.
You can’t delay what doesn’t exist, beautiful people.
Makcik’s five-star plan
Here’s what the government should do – and yes, I’m available for consultation (payment in satay also accepted):
Compulsory EPF at 14: Automatic account creation with MyKad, no excuses;
Starter bonus: Government matches first RM50 contribution. Call it the “Future Fund”;
Financial literacy 101: Make it a subject in school – teach budgeting, not just barisan hadapan;
Youth employer incentive: Give small tax breaks to businesses hiring students or teenagers who contribute to EPF; and
EPF app for teenagers: With colourful graphs, badges and cute reminders like, “Your money’s growing faster than your TikTok views”.
Final word: Let’s marinate early, not panic later
If Malaysia wants to push withdrawal to 65, fine, but we’d better start saving at 14.
Otherwise, we are just extending the working years of people who already can’t afford to retire.
Let’s raise a generation that sees EPF not as a deduction but as empowerment.
Let them brag about their savings the same way they brag about their gaming ranks because one day, when these kids hit 55, they will thank us – from their beachside chalets, sipping teh ais, not counting coins.
So here’s the deal, my darlings – the future isn’t waiting for anyone, especially not our nanti-lah attitude.
Money doesn’t grow on durian trees and no amount of wishful thinking will spawn an EPF account.
We have romanticised hustle culture but forgotten the sacred art of simpan dulu baru belanja.
Keep going like this, and our grandkids will inherit debts and trauma, not gold bangles and tanah pusaka.
Because if the kids can slay online, surely those in Putrajaya can slay in real life – by building a Malaysia that actually saves for its future instead of just saving face.
Until then, Makcik’s handbag of wisdom (and mild violence) stays ever ready, darlings – sparkling, sturdy and always aimed squarely at making sense.
Azura Abas is the associate editor of theSun.
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