KUALA LUMPUR – The COVID-19 pandemic has ravaged Malaysia socially and financially, leaving almost everyone unprepared and ill-equipped to face the uncertainties of everyday life. According to the Financial Education Network, 2 out of 3 Malaysians are ill-equipped with sound financial knowledge. About 65% of Malaysians barely have financial back-up for retirement as most of them have less than RM50,000 within their EPF Holder accounts.
Explained Ms Amy Seok, founder and chief executive officer of Money Compass Media (M) Sdn Bhd, “For this whole month, ULearnMONEY is on a dedicated exercise to invite discerning individuals and institution fund managers to invest in its expansion plans.
“ULearnMONEY was created and incorporated on June 28, 2019 under the Money Compass Media umbrella. In such a short span of time, it is rated as the Number 1 financial literacy online education platform in Malaysia in the Google Ranking. To date, ULearnMONEY has reached out to over 100,000 participants offline and 500,000 online participants through online webinars and events.
“ULearnMONEY is also an initiative in elevating financial literacy for Malaysians in supporting the Government’s National Financial Literacy Strategy 2019-2023. ULearnMONEY is committed in helping the implementation of the national strategy set up by Financial Literacy Education Network, which is spearheaded by Bank Negara Malaysia and Securities Commission of Malaysia,“ stressed Ms Amy.
Its mission and vision are to elevate the financial literacy level of Malaysians and also South-East Asian nations through regular financial education.
Through the Collaboration Centric Platform, ULearnMONEY aims to achieve its objectives and undertake its ULearnMONEY Business Presentation which has started on December 2 and will continue until December 20 in English, Bahasa, and Mandarin sessions. An English session will be held today at 8 to 9 pm via the ZOOM platform.
Questions will then be addressed crucially, critically and will be solved with immediate collaborative actions and solutions, through the 5C’s, namely Credible, Conducive, Convenience, Comprehensive and Cost Effective through structured and systemic strategies.
Through these sessions, ULearnMONEY aims to fulfill its ECF Funding with a total amount of RM1.5 million for Marketing and Events, Technology, Platform, Content Development and its regular maintenance.
Plans are in store to develop the Learner Application, more financial education content, build a network of independent financial content creators, as well as begin development of the Financial Tool Hub application.
These will mainly be offered to university students to change their mindsets to manage their finances, whilst also gain access to credible and trusted information from the master coaches of ULearnMONEY. This initiative is also supported by the Ministry of Education and over 36 institutions of Higher Learning in the country.