KUALA LUMPUR: The number of Malaysians who said they are unable to save money every month increased by two percentage points this year to 21 per cent compared to 19 per cent last year, according to the RinggitPlus Malaysian Financial Literacy Survey (RMFLS) 2021 survey.
RinggitPlus co-founder and director Hann Liew said the credit crunch situation was due to the current pandemic and economic situation.
"21 per cent of Malaysians told us they cannot save a single cent each month, increasing from 19 per cent of respondents last year.
"People that could save less than RM500 or do not manage to save each month was 56 per cent this year versus 49 per cent last year, and the people that could save RM1,500 or more each month was 15 per cent versus 20 per cent last year.
"In summary, saving has been more difficult than ever before and we can tie this to the pandemic and the economic situation," he said at the virtual RMFLS 2021 event today.
The RMFLS 2021 survey involved 3,000 respondents across all income groups in Malaysia.
In addition, Hann said the survey also recorded a huge percentage drop in people who believe their Employees Provident Fund (EPF) savings are enough for retirement.
"15 per cent of our respondents this year said they believe that their EPF savings are enough for retirement versus 30 per cent last year - this is a whopping decrease of half the people that told us.
"85 per cent of respondents think their EPF savings alone may not be sufficient for retirement and almost half of them - 45 per cent - said they have not started any retirement planning - this is an equally worrying metric. Similar to last year, the differences are far bigger than we expected," he said.
The survey also stated that 52 per cent of respondents said they cannot survive more than three months if they lose their job; 44 per cent spend exactly or more than what they earn, and 76 per cent believe they are in control of their money.
"This year, building an emergency fund was the top reason Malaysians saved money," he said, adding that the pandemic has been and remains a huge wake-up call to Malaysians and this is exacerbated by previous poor financial habits around saving and spending.
Hence, to find a solution for them, he said RinggitPlus has been working with its partners to introduce RinggitPlus Financial Healthcheck and RinggitPlus Financial Planning Services to help people smoothen their financial management.
"RinggitPlus Financial Healthcheck is a checking tool that checks your financial health across cash flow, debt management, insurance, and wealth management.
"And our second product - RinggitPlus Financial Planner - is our digital one-on-one financial planning service where you can get a certified licensed expert directly online without having to go anywhere," he said.
-- BERNAMA
Bernama
Wed Oct 13 2021
![Malaysians finding it harder to save money every month - RinggitPlus survey Malaysians finding it harder to save money every month - RinggitPlus survey](https://resizer-awani.eco.astro.com.my/tr:w-177,h-100,q-100,f-auto/https://img.astroawani.com/2018-01/81516696854_PelanconganBUDGET.jpg)
Hann said the survey also recorded a huge percentage drop in people who believe their Employees Provident Fund (EPF) savings are enough for retirement. - AFP/Filepic
![Messi harap cepat pulih daripada kecederaan Messi harap cepat pulih daripada kecederaan](https://resizer-awani.eco.astro.com.my/tr:w-177,h-100,q-100,f-auto/https://img.astroawani.com/2024-06/51719647184_LionelMessi.jpg)
Messi harap cepat pulih daripada kecederaan
Kapten Argentina, Lionel Messi berharap agar beliau cepat pulih daripada kecederaan buku lali yang dialaminya perlawanan akhir Copa America.
![MARA diminta terus teroka potensi industri halal global - Ahmad Zahid MARA diminta terus teroka potensi industri halal global - Ahmad Zahid](https://resizer-awani.eco.astro.com.my/tr:w-177,h-100,q-100,f-auto/https://img.astroawani.com/2024-07/71721105894_AhmadZahidHamidi.jpg)
MARA diminta terus teroka potensi industri halal global - Ahmad Zahid
MARA diminta untuk terus meneroka potensi antarabangsa dalam industri halal yang mempunyai prospek besar menerusi program Gate to Global (GTG).
Saya akan rindu bau durian - Kim Pan-gon
Menurut Kim Pan-gon, beliau akan tetap bangga dengan pasukan bola sepak Malaysia walaupun dimana beliau berada.
Katanya beliau akan merindui bau durian dan langit Malaysia. #AWANInews
Katanya beliau akan merindui bau durian dan langit Malaysia. #AWANInews
Kim Pan-gon letak jawatan berikutan komitmen peribadi
Pengurus pasukan kebangsaan Malaysia, Kim Pan-gon menyatakan perletakan jawatan tersebut kerana komitmen peribadi.
#AWANInews
#AWANInews
![Penggunaan dron tingkat keberkesanan pemantauan pencemaran - Nik Nazmi Penggunaan dron tingkat keberkesanan pemantauan pencemaran - Nik Nazmi](https://resizer-awani.eco.astro.com.my/tr:w-177,h-100,q-100,f-auto/https://img.astroawani.com/2024-07/71721102997_SimposiumDronKeban.jpg)
Penggunaan dron tingkat keberkesanan pemantauan pencemaran - Nik Nazmi
Penggunaan dron membolehkan pemantauan pencemaran alam sekitar dan hidupan liar serta pencerobohan hutan dilaksanakan dengan lebih berkesan.
![Kim Pan-gon letak jawatan ketua jurulatih, akan terus rindui sokongan rakyat Malaysia Kim Pan-gon letak jawatan ketua jurulatih, akan terus rindui sokongan rakyat Malaysia](https://resizer-awani.eco.astro.com.my/tr:w-177,h-100,q-100,f-auto/https://img.astroawani.com/2024-06/71718142997_KimPanGon.jpg)
Kim Pan-gon letak jawatan ketua jurulatih, akan terus rindui sokongan rakyat Malaysia
Kim Pan-gon menjadi satu-satunya individu yang bakal meninggalkan pasukan manakala Pau Marti bersama staf sokongan yang lain kekal di Kelana Jaya.
![Bekas pengawal peribadi Wan Azizah cedera kemalangan Bekas pengawal peribadi Wan Azizah cedera kemalangan](https://resizer-awani.eco.astro.com.my/tr:w-177,h-100,q-100,f-auto/https://img.astroawani.com/2024-07/51721109015_bekaspengawalperib.jpg)
Bekas pengawal peribadi Wan Azizah cedera kemalangan
Bekas anggota polis wanita yang kini bekerja sebagai pengawal peribadi cedera setelah motosikal ditunggangnya melanggar sebuah SUV di lebuh raya PLUS.
![Rang Undang-undang Kebebasan Maklumat dijangka dibentang akhir tahun ini - Kulasegaran Rang Undang-undang Kebebasan Maklumat dijangka dibentang akhir tahun ini - Kulasegaran](https://resizer-awani.eco.astro.com.my/tr:w-177,h-100,q-100,f-auto/https://img.astroawani.com/2024-07/81719996195_MKulasegaran.jpg)
Rang Undang-undang Kebebasan Maklumat dijangka dibentang akhir tahun ini - Kulasegaran
RUU Kebebasan Maklumat dijangka dibentangkan di Parlimen pada akhir tahun ini selepas cadangan ketetapan bagi penggubalan Akta Kebebasan Maklumat dibawa ke Jemaah Menteri untuk kelulusan.
![Azizi dilantik Ketua Polis Perak baharu Azizi dilantik Ketua Polis Perak baharu](https://resizer-awani.eco.astro.com.my/tr:w-177,h-100,q-100,f-auto/https://img.astroawani.com/2024-07/51721108438_azizi.jpg)
Azizi dilantik Ketua Polis Perak baharu
Timbalan Ketua Polis Perak Datuk Azizi Mat Aris dilantik sebagai Ketua Polis Perak yang baharu hari ini.
![ADUN Rembia sertai Pas, tak 'lompat parti' - Takiyuddin ADUN Rembia sertai Pas, tak 'lompat parti' - Takiyuddin](https://resizer-awani.eco.astro.com.my/tr:w-177,h-100,q-100,f-auto/https://img.astroawani.com/2024-07/51721108165_ADUNRembiaPN.jpg)
ADUN Rembia sertai Pas, tak 'lompat parti' - Takiyuddin
Menurut Takiyuddin, keahlian Muhamad Jailani yang juga wakil rakyat UMNO diterima pada 10 Jun tahun lalu, namun diumumkan secara rasmi hari ini.
![PM lantik tiga anak muda anggotai Majlis Tindakan Ekonomi Negara PM lantik tiga anak muda anggotai Majlis Tindakan Ekonomi Negara](https://resizer-awani.eco.astro.com.my/tr:w-177,h-100,q-100,f-auto/http://img.astroawani.com/2019-08/61565151708_TBTUNMjpg.jpg)
PM lantik tiga anak muda anggotai Majlis Tindakan Ekonomi Negara
Keputusan itu buktikan komitmen kerajaan dalam meningkatkan penyertaan generasi muda ke pentadbiran dan perancangan polisi negara.