Financial Literacy: Turning Allowances Into Investments

Why do most of us wait until adulthood to figure out how money really works? Maybe wait isn’t even the right word. We might not even be aware of how important it is. By the time we’re thrown into bills, credit scores, and loans, the learning curve is already so steep. Where do we even start to make sense of it? Adulthood isn’t always a smooth ride, and money is one of the biggest sources of stress. If anything, we tend to understand money better once the damage has been done—like falling into debt earlier than expected, when it may already be too late. 

The debt trap starts young. With all the wants and needs in this economy, it’s getting harder and harder to keep up. Latest statistics show that over 50,000 Malaysian youths aged 30 and below are in debt due to credit cards and loans worth up to RM2 billion in total. 

Utusan Malaysia wrote in its report: “Based on AKPK records, they are mainly caught in such a situation due to having additional children in their family, maintaining a particular lifestyle, housing loans and purchase of vehicles.”

At this rate, we’d need to buy houses as toddlers to be able to afford one comfortably today! Prices keep rising but our finances aren’t keeping up. Growing up, we’re mainly taught to save our money but how often are we taught to actually grow it? 

The First Entrepreneurial School in Malaysia 

Financial literacy is not always about numbers, but it’s making the right choices, having responsibility and cultivating a healthy mindset towards money. That’s why schools like Dwi Emas International School are doing it right. One parent who has seen the impact firsthand is Audrey Ooi—better known as fourfeenine, Content Creator, Parenting Coach, Co-founder and Executive Director of Colony Coworking Spaces. She shared why Dwi Emas felt like the right fit for her children: 

“The reason why I chose Dwi Emas is exactly because of their entrepreneurship and financial literacy angle. Every week, they have a Powerpreneur class that focuses on business in different aspects such as product development to branding. 

It prepares our children for the future and gives them practical skills. This is something that I personally didn’t have growing up.”

Recognised as Malaysia’s first entrepreneurial school, Dwi Emas International School is leading the way in providing their students with financial knowledge through entrepreneurship. Its Powerpreneur Programme, for example, empowers and nurtures students to experiment, innovate, and even launch their own creative business ideas. These skills can also be translated into how they deal with their personal finances in the long-run. This sentiment is echoed by  finance enthusiast Suyin Ong, sales manager and former teacher at Dwi Emas International School, who highlighted that financial education must go beyond the academic fundamentals: 

“And beyond the academic side, there’s the personal side of money—how to delay gratification, how to grow money, how to manage spending, and how to make good decisions under pressure. Those skills require discussion and real world practice.

So while there has been progress, I think there’s still room for a more deliberate, structured effort to help young people feel confident navigating money once they step into adulthood.” 

Reality check: It was never just about the money. It’s about cultivating a life skill and money just happens to be one of the things we need to survive and thrive. How we manage it has everything to do with our mindset and behaviour. When students are exposed to these lessons, with the freedom to explore in a safe environment, they’re not only learning about finances. They’re learning how to think, problem-solve and ultimately build a future that’s financially responsible and within their control. 

The TikTok Generation of Finance

Let’s take a step back and look at what’s already out there. We know finance is confusing and most of us jump into it with zero idea on what we’re actually doing because our friends are doing it so it seems right. Traditional options like speaking to financial consultants or budgeting coaches still play a role, but there’s an alternative that’s free, easily accessible and engaging: TikTok. And of course, Gen Z is already on it. 

With tons of credible experts already sharing advice on the platform, it’s become a go-to place for Gen Z to learn about money in a way that feels friendly, approachable and easy to take in. This opens up avenues for viewers to also seek advice from other newbies alike. Gen Z has even coined their own financial language like ‘Loud budgeting’, ‘Doom spending’, ‘Soft savings’, ‘Recession core’ and many more on the platform, rebranding the concept of money management with viral ‘cutesy’ terms. These trends or ‘cores’ may seem trivial at first, but they reflect how the current generation reframes finance through humour, relatability and community.

Terms	Definitions
Loud Budgeting	Openly declining certain purchases or events that are not within your budget. (source)
Doom Spending	Mindlessly shops to self-soothe due to feeling pessimistic about the economy and the future. (source)
Soft Savings	Prioritising the present well-being and enjoyment over long-term financial security and savings. (source)
Recession Core	A fashion and aesthetic trend that’s minimalist, practical and focuses on high-quality, timeless pieces over flashy trends. (source)

But, TikTok does have its own drawbacks. By balancing time limits, entertainment, and education, creators often oversimplify complex financial topics which can lead to newcomers making risky decisions that aren’t necessarily right for their situation. As a result, some may face serious financial consequences since the concept isn’t fully grasped. 

“Our financial lives aren’t one-size-fits-all, so the real work is understanding ourselves first. That means getting honest about our emotional tendencies around money such as how we respond to risk, what triggers fear or excitement, and what we genuinely enjoy spending on. 

When we take the time to honestly know ourselves, we can optimise our choices instead of copying what we think we “should” do.

In short, optimisation helps us design a financial life that feels calm, intentional, and personal—rather than reactive or driven by comparison,” shared Suyin Ong. 

Malaysia’s Initiative towards providing Financial Literacy 

So what has Malaysia been doing? Prime Minister Anwar Ibrahim introduced a 5-year strategy to elevate financial literacy by 2030 that aims to equip Malaysians with the skills to manage money better, stay prepared for unexpected financial shocks and build long-term stability. Additionally, university students are getting a free initial investment of RM50 and financial literacy tools from the Celik MADANI programme. 

Basically, the government wants to make sure we have the money skills we should’ve been taught earlier. We’re talking about educational programs and other resources designed to help us make smarter financial decisions. At the end of the day, it’s about helping Malaysians feel more confident and in-control of their finances. 

Financial Literacy Starts Now

Financial literacy is no longer a skill we can afford to learn by mistake. Do we all need to splurge on big purchases to recognise how one moment of excitement can turn into months of financial stress? Financial literacy goes far beyond numbers. It includes the soft skills that shape our financial confidence, habits and sense of responsibility. That’s why introducing financial literacy and entrepreneurship classes in schools is so important. We need real-world money skills early on, so kids can see finance as something manageable, not intimidating. We’re not just teaching them how to count their money but how to navigate life. Giving kids this foundation today is how we build a more financially empowered generation tomorrow.