Nearly four in ten middle-income Malaysians save RM500 or less each month, highlighting persistent savings gaps despite growing financial awareness, according to the 2025 RinggitPlus Malaysian Financial Literacy Survey (RMFLS 2025).
The survey, which focused on Malaysians earning between RM5,000 and RM10,000 monthly, found that only 23% save between RM1,001 and RM1,500 per month, down from 29% in 2024. Just 27% of respondents said they could survive more than six months on their savings, compared to 32% the previous year.
“The first quarter of the year coincides with major festive periods such as Chinese New Year and the lead-up to Ramadan, both of which are traditionally associated with higher household spending on celebrations,” the report noted.
Official data from the Department of Statistics Malaysia showed that wholesale and retail trade rose significantly in the first quarter of 2025, with RM148.3 billion in sales in February, largely supported by purchases ahead of Ramadan and Hari Raya Aidilfitri.
The survey suggests that even households with stable incomes face challenges in maintaining meaningful savings beyond the initial momentum of new-year financial resolutions.
