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Many newly married couples get into financial mess through credit card mismanagement, while other couples break up due to years of mounting debts, says Credit Counselling and Debt Management Agency (AKPK).
Because of this, the agency is organising financial literacy courses for those getting married via their respective religious councils or civil marriage departments, said its chief executive officer Koid Swee Lian.
She added that AKPK was targeting these groups because many newly married couples financed their marriages through money from credit cards or personal loans.
“We believe that financial prudence is one of the keys to a successful marriage. Many of those who borrowed money or took cash advances from their credit cards do not realise that they may be getting into a lifetime of financial misery if they fail to service such loans.
“We have counselled many couples who had broken up because they were burdened by debts after years of marriage.
“We want to extend financial knowledge to those who are about to get married as AKPK feels that such knowledge is as important as their marriage,” she said after launching a briefing on AKPK financial and counselling services here yesterday.
Source: The Star, 12 December 2012