Main image via Exepose
Have you been regularly feeling like you never have enough money? Do you find yourself constantly wondering where all your money went even though you haven’t shopped for anything extra, month after month?
Well, you’re not alone, and it isn’t your fault!
via GIPHY
Khazanah Research Institute did a study on household income for 2018 called “The State of Household 2018: Different Realities”, and some really shocking facts about the cost of living in Malaysia were found!
- In 2016, households living in the majority of districts in Malaysia earned less than the national median household income (RM5,228).
- Also in 2016, households earning at around the median household income had RM1,811 left over… which is lesser than the amount they had left over in 2014—RM1,990.
via GIPHY
- In KL, the average household income almost doubled than the rest of Malaysia.
- Households earning below RM2,000 only have RM76 left over after household expenses were paid for. This is less than what the group had in 2014, which was RM124.
via GIPHY
- Households earning less than RM5,000 a month have been spending more money on food in 2016 compared to 2014, though the amount of food actually consumed was lesser due to high food inflation.
- Residual household income has reduced for all income levels, while household expenditure has increased.
via GIPHY
So basically, the reason you feel like you don’t have money is because you literally don’t have any money!
But most importantly, the study has highlighted that most households in the Bottom 40% (B40) who only earn an average of RM2,000 a month are in an alarmingly dangerous financial situation.
After paying for household expenses, the group only had RM76 left over. That’s not even enough to cover petrol cost to travel to work every month!
You can read the whole report for yourself, here.
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