Personal Loans: When To Take It And When Not To

Idham Idris, Director and Licensed Financial Planner, Wealth Vantage Advisory

21-Apr-22 09:30

Personal Loans: When To Take It And When Not To

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According to Bank Negara’s recently published 2021 annual report, Malaysian households have nearly 1.38 trillion ringgit worth of debt and a chunk of it are due to personal loans. Sim Wie Boon speaks to Idham Idris of Wealth Vantage Advisory to understand why people take it and get his thoughts on when personal loans are a good idea as well as when they are not. They also discuss the dangers of personal loans and how easy it can lead you into a debt trap. Image credit: Pixabay.com

Produced by: Sim Wie Boon

Presented by: Sim Wie Boon

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Categories: personal finance, young finance, financial literacy, personal development, social issues

Tags: microloan, GoPinjam, emoney, personal loans, debt, loan, money, personal finance, danger, credit, credit cards, bank, cash, hire purchase, satisfaction, greed,

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