According to the survey, 33% of our people have only enough income to cover their expenses and 22% are unable to make ends meet.
According to a questionnaire survey conducted by RinggitPlus, 21% of our people have no monthly savings, 49% save less than RM500 per month, 20% save between RM500 and RM1,000 per month, 5% can save RM1001 to RM1,500 per month, and 5% can save more than RM1,500.
The report was conducted online with a total of 3144 participants, half male and half female, aged 18 to 44 years old.
The report also revealed that 23% of the respondents were unable to maintain their current living for more than 1 month after losing their jobs, while 40% were able to maintain their current living for 1 to 3 months after losing their jobs. 22% were able to maintain their current living for 4 to 6 months after losing their jobs, while 15% were able to maintain their current living for more than 6 months after losing their jobs.
In addition, 66% of the respondents said they would consider receiving CPF if the government launched another CPF withdrawal scheme. Fifty-two percent of respondents said they have not started investing, 82% believe their CPF savings are not enough for retirement, and 41% have not started financial planning.
This report also shows that 47% of the respondents have a monthly income of less than RM2,000, and only 10% of the respondents have a monthly income of more than RM10,000.
