While good news is on the way for aspiring first time homeowners – with “relaxed” housing loan policies expected to be announced in September – there are still plenty of issues plaguing the youth today. One of these is credit card debt, which can spiral out of control if one doesn’t have good self-discipline or basic financial knowledge, as well as negatively affect your chances of obtaining important loans i.e. housing loans.

That is why a significant amount of youth in Malaysia are facing bankruptcy due to overspending on credit cards, as well as loans, be it personal, car, property, etc. If you feel like you’re sinking into the murky quagmire that is credit card debt, don’t panic! There are ways for you to climb out and regain your financial freedom (or at least, stability); all you need is determination, and the motivation to pay them off for a better tomorrow.

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