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Friday, October 25, 2013

Gen-Y keeps close eye on Budget Group uses various channels for updates

Published: Friday October 25, 2013 MYT 12:00:00 AM 
Updated: Friday October 25, 2013 MYT 7:17:16 AM

BUDGET 2014 will be unveiled today and many are anxiously waiting for details as it will affect them in the long run.

To know more about the budget, Feisol Che Hamzah, 25, has been speaking to others, especially older folks.

He also visits online forums to understand the thoughts and ideas of other Malaysians.

The business development executive is looking forward to seeing the summary of Budget 2014.

“There should be a new package for the lower- and middle-income families, similar to BR1M but not a one-off handout,” he said, adding that the Government should focus on these groups, especially by looking into affordable housing for them.

Meanwhile, Jeremy John Alexander, 27, who has been working for a few years now, has been keeping tabs on the yearly Budget by reading reports in the newspapers and online forums.

He also wants the matter of affordable housing for young adults addressed.

“I really hope an ‘Affordable Housecare Act’, for example, will be put in place to address this problem and help people own their first house.”

Kan Wen Ni, 24, said she did not follow the news closely but kept tabs on issues that affect her.

“Pullouts in the newspapers, with simplified charts, make it easier to understand the Budget,” she said.

She is waiting to find out more on the implementation of the goods and services tax (GST).

“I do not want to get an unexpected shock,” she said.

She also hopes the petrol price will not increase again.

Navinthiran Baskeran, 24, said he learnt about the Budget through newspapers and online news portals.

“From what I understand, we are now looking at reducing the gap between the rich and the poor,” he said.

He feels that with the increase in fuel price, many are expecting an increase in prices of property.

Speaking about housing, the mechanical engineer said the Government should tie up with developers and allocate some houses in new housing schemes to those who earn less than RM5,000.

“It should be similar to ‘My First Home Scheme’.”

He also feels that BR1M should be abolished.

“The Government should have more student loans, housing schemes and business loans to help young people,” he said.

He is also keen to know more about the implementation of GST and the percentage imposed.

Mabel Yan, 22, is keeping herself up-to-date with Budget news as it affects her.

“The Budget will take a toll on our personal finances, especially those with low income and live on their own in the city,” she said.

For this online business community manager, living with her parents has helped reduce expenses.

“As a consumer, I would prefer the Govern-ment subsidies to remain,” she said.

“However, I understand that the Government may remove some to reduce national debt.”

Yan said no matter what, Malaysians must learn to live within their means.

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