Latest news with #EmergencyFund
The Sun
8 hours ago
- The Sun
GPMS proposes emergency fund, SOP reform after UPSI tragedy
GEORGE TOWN: The Federation of Peninsular Malay Students (GPMS) has proposed a National Student Emergency Fund for Higher Education Institutions (IPTs) students to provide immediate aid to families affected by tragedies. GPMS vice-president Muhammad Danial Alimin said the fund would support post-trauma needs, including psychological treatment and counselling, and ensure insurance coverage for students during official activities. He urged IPTs to strictly assess travel risks and not leave decisions to organisers or students, emphasising that students and the public must prioritise safety during off-campus activities. 'The tragedy which killed 15 Universiti Pendidikan Sultan Idris (UPSI) students in a bus accident near Tasik Banding, Gerik, is a reminder to prioritise student safety in all plans,' he said in a statement today. The accident occurred on the East-West Highway, involving a bus carrying UPSI students and a multi-purpose vehicle early this morning. GPMS expressed deep sorrow over the incident, which shook the higher education sector and which it said underscored the need to prioritise student safety as future leaders. The federation extended condolences to the victims' families and prayed for the swift recovery of those receiving treatment. 'This tragedy must be taken as a turning point in the government's approach to developing standard operating procedures for student transportation safety,' the statement read. GPMS also called for the screening of bus companies and for an audit of drivers' health, licences and records to prevent future incidents. It also vowed to advocate for students, pressing stakeholders to address systemic safety failures to avoid recurring tragedies.
The Sun
8 hours ago
- The Sun
GPMS proposes emergency fund, SOP reform
GEORGE TOWN: The Federation of Peninsular Malay Students (GPMS) has proposed a National Student Emergency Fund for Higher Education Institutions (IPTs) students to provide immediate aid to families affected by tragedies. GPMS vice-president Muhammad Danial Alimin said the fund would support post-trauma needs, including psychological treatment and counselling, and ensure insurance coverage for students during official activities. He urged IPTs to strictly assess travel risks and not leave decisions to organisers or students, emphasising that students and the public must prioritise safety during off-campus activities. 'The tragedy which killed 15 Universiti Pendidikan Sultan Idris (UPSI) students in a bus accident near Tasik Banding, Gerik, is a reminder to prioritise student safety in all plans,' he said in a statement today. The accident occurred on the East-West Highway, involving a bus carrying UPSI students and a multi-purpose vehicle early this morning. GPMS expressed deep sorrow over the incident, which shook the higher education sector and which it said underscored the need to prioritise student safety as future leaders. The federation extended condolences to the victims' families and prayed for the swift recovery of those receiving treatment. 'This tragedy must be taken as a turning point in the government's approach to developing standard operating procedures for student transportation safety,' the statement read. GPMS also called for the screening of bus companies and for an audit of drivers' health, licences and records to prevent future incidents. It also vowed to advocate for students, pressing stakeholders to address systemic safety failures to avoid recurring tragedies.
CTV News
28-05-2025
- Business
- CTV News
How to keep your finances on track according to Canadian expert
We're kicking off Financial Fitness Week by looking at how you can evaluate your own financial fitness! This week marks Financial Fitness Week and CTV Morning Live looks into how to evaluate your financial situation to grow your net worth. The net worth is defined as the health check for your finances, according to personal finance expert and author Jessica Moorhouse. This includes your assets and liabilities. Moorhouse says that you want to see your net worth grow every month. This can be done through saving, investing and paying your debts, she adds. Emergency funds The most important thing when it comes to finances is making sure you have an emergency fund, Moorhouse said. 'When you think everything is going well, that's when something happens unexpectedly,' she said. 'Your car breaks down, your pet gets sick, you lose your job or your hours are cut. Something is always going to happen.' The rule of thumb, according to Moorhouse, is to have enough money to cover expenses for three to six months. She notes that most people do not have an emergency fund, citing having other priorities and not being able to save. Therefore, her first suggestion when meeting with new clients is to prioritize having that emergency fund. How to manage debt When it comes to debt, Moorhouse says it's usually an emotional topic that comes with shame, embarrassment and anxiety. There is always a way out, she notes. She suggests looking at the interest rates and trying to find the best repayment strategy. 'There are two important ones (strategies), the debt avalanche and the debt snowball. You either want to start paying off aggressively the one with the highest interest rate first, or do you want to tackle the smallest balance,' Moorhouse said. While the debt avalanche focuses on minimizing interest costs by paying off the debt with the highest interest rate first, the debt snowball focuses on paying off the smallest debts before moving on to the bigger ones, she explains. Cash flow vs spending Looking at the cash flow, which is the cash that comes in and the money that goes out, is very important to manage your finances, Moorhouse says. Though people look at how much they make per month, they don't necessarily look at their spending, she says, while suggesting tracking all expenses. 'It is important because we know that we (might have) spent a little too much on eating out. 'Or what was this expense? I thought I cancelled that subscription. Well, I didn't.' So, now I know cause that's my spending,' she added. The personal financial expert suggests aligning your spending with your goals and values. For example, if you want to go on a trip, she suggests cutting off on spending on take out coffees or eating at restaurants. More information is available in Moorhouse's book titled Everything but Money.
