Take up second jobs, Malaysians told.
Yes. You heard it right.
Malaysians are told to take a second job to ease household debts that are skyrocketing.
In urging people to do so, Credit Counseling and Debt Management Agency (AKPK) executive officer Koid Swee Lian proposed teachers and educators to give extra classes as their side income.
“By doing that, they could help their spouses in handling the household debt and also the rising cost of living,” said Koid.
She also urged the breadwinner of the family not to keep financial problems away from family.
By sharing the problem, Koid said the family members would be reminded not to overspend.
Many consumers, she said, were clueless about their cash flow and lived beyond their means before they go broke.
Koid said AKPK has been helping people with debt problems through its Debt Management Programme (DMP).
According to the latest data, household debts had grown down from 13.5 percent in 2012 to 11.7 percent in 2013.