Employees Trust Fund (TAP) held a financial planning talk for the 10th intake from the National Service Programme (PKBN) at the Lecture Hall, PKBN Training Camp, Batu Apoi, Temburong yesterday.
The talk emphasised the importance of earning an income, controlling spending by prioritising needs over wants, drawing up a budget, building essential savings such as emergency savings and retirement savings, investment, getting financial protection (Takaful/insurance), and avoiding unnecessary debts.
TAP financial planners also conducted an interactive activity, titled ‘Big Dreams’ which simulated future needs. Participants were given the assumption of having a monthly income and were required to choose their desired lifestyle. This included goals that involve money such as getting their dream home, dream car, dream vacation and retirement income goal. From the activity, participants were able to envision the impact of their choices on their income as well as making wise decision on saving, getting into debt, or earning more income, in order to achieve their dreams.
The session also covered information on TAP and its role when the participants step into the realm of work as well as the purpose of TAP savings as one of their income sources for retirement.