EPF Launches Belanjawanku App to Help Users Track Financial Expenses
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The Employee's Provident Fund (EPF) recently introduced the Belanjawanku mobile application, allowing users to track their expenses online conveniently. The app was launched alongside the expenditure guide for 2022/2023 at Menara KWSP in Kwasa Damansara on June 13th.
The Belanjawanku app allows users to easily access the guide, which outlines minimum expenses according to household categories. It also offers recommendations on allocating funds for necessities, optional spending, and personal savings across 11 cities in Malaysia.
EPF chairman, Tan Sri Ahmad Badri Mohd Zahir, highlighted the importance of financial discipline, stating that 76% of Malaysians have a budget but struggle to adhere to it. Additionally, 47% find setting aside RM1,000 for emergencies challenging, as indicated by the National Financial Literacy Strategy 2019-2023 by the Financial Education Network and the Financial Capability and Inclusion Demand Side Survey 2021 by Bank Negara Malaysia.
The Belanjawanku guide aims to enhance Malaysians' financial management skills, fostering a more informed approach to personal finances. This initiative is a collaborative effort between EPF and Universiti Malaya's Social Wellbeing Research Centre (SWRC). The Belanjawanku App can also be downloaded for free from Apple App Store, Google Play, and Huawei App Gallery.