PETALING JAYA: Stretching RM10 worth of petrol until the next payday, relying on leftover food or anxiously watching hard-earned savings disappear for an unexpected car repair is the predicament of many Malaysians today.
For environmental consultant Johan Setiyo, 32, an emergency RM1,000 expense would likely mean reaching for his credit card or borrowing money.
Johan said he does not consider himself financially secure as he struggles to save more than RM300 a month.
“Almost 60% of my salary goes towards bills and other commitments. There have been times when I had only RM10 for petrol or had to rely on leftover food until payday. It feels like I’m constantly trying to make my money last until the next salary.”
He said he tries to save between RM100 and RM400 a month but unexpected expenses, including car repairs and maintenance, could quickly wipe out whatever he had managed to put aside.
For 28-year-old marketing specialist Tasha, an unexpected RM1,000 bill would also likely mean borrowing money or using a credit card.
“My current salary is just enough to cover my commitments and monthly expenses, including food and daily spending.”
Tasha said she tries to save RM300 to RM500 a month but unexpected expenses often force her to dip into her savings.
She said housing, loans, food and transport take up much of her income, leaving little room to build a financial buffer.
“I wouldn’t say I feel financially secure,” she said, adding that a higher salary and lower living costs would give her more room to save.
“Living in the city, sometimes you just have to learn to tolerate the higher prices because there isn’t much you can do about it. Like nasi lemak for RM7? Okay, I have to think it’s normal here.”
For 26-year-old journalist Nik, the financial strain became real when his car broke down on a highway, resulting in a RM570 repair bill and another RM200 in towing charges.
He added that the unexpected expense came on top of RM630 in rent, about RM60 in monthly phone bills and other family-related emergencies.
“Living in Selangor and Kuala Lumpur, earning less than RM3,000 will often make you tighten your belt just to survive.”
He said food, petrol, tolls and vehicle maintenance left him with almost no savings, while unexpected expenses could quickly wipe out whatever remained.
“You never know when you’ll suddenly have to fork out most of your savings or salary.”
While acknowledging that rising costs are also driven by factors beyond the government’s control, Nik said higher salaries would give lower-income workers more financial breathing room.
“We can’t fully point fingers at the government. Geopolitical conflicts have also escalated the issue and placed a financial burden on petrol subsidies.”
Nik said higher salaries are needed to keep pace with the rising cost of living.
“Higher salaries will definitely help,” he said, adding that any government able to provide greater financial support for unexpected expenses would have his strong support.
“Whichever government can implement that will have my 100% vote.”
Nik added that better financial literacy could help workers manage their money more effectively although this alone could not address the wider pressure created by rising living costs.
Johan echoed Nik’s view that higher wages and lower living costs would give workers greater financial breathing room.
“The cost of almost everything has gone up and it is much harder to stretch one’s salary today.” – BY KIRTINEE RAMESH
