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Nearly four in 10 middle-income Malaysians save just RM500 or less each month, as those earning between RM5,000 and RM10,000 face growing financial pressure
According to the 2025 RinggitPlus Malaysian Financial Literacy Survey (RMFLS 2025), 39% of respondents in this income bracket only save RM500 or less monthly, up from 31% in 2024.
Meanwhile, respondents saving between RM1,000 and RM1,500 each month fell to 23% in 2025, down from 29% the previous year.
This has been a trend over the past few years: the share of respondents saving RM1,001 to RM1,500 has been declining, while those saving RM500 or less have been increasing.
The survey also found that fewer Malaysians have enough savings to last more than six months. Only 27% said they could do so, compared to 32% in 2024.
RinggitPlus said these findings show that middle-income Malaysians are saving less while also having thinner emergency buffers.
It added that the day-to-day strain on middle-income earners is also becoming more evident
The survey found that 47% of respondents say they are living paycheck to paycheck, up from 45% in 2024.
Meanwhile, only 37% say they are happy or satisfied with their financial situation, down from 41% last year.
"We do not see the same downward movement across other income bands," RinggitPlus noted.
To cope with rising financial pressures, many respondents say they are cutting back on spending and looking for additional income:
– 60% are spending less on leisure (57% in 2024)
– 59% are eating out less (54% in 2024)
– 43% reviewed and cut subscriptions (40% in 2024)
– 41% have started exploring freelance or side income due to global economic uncertainties
RinggitPlus said rising living costs and seasonal spending patterns also continue to affect how much Malaysians are able to save
In a follow-up report, RinggitPlus noted that early-year expenses and festive spending, such as Chinese New Year and Ramadan, often disrupt savings plans set at the start of the year.
"For many individuals in this income bracket, the difficulty is often not the intention to save, but the reality of managing cash flow throughout the year," it said.
Check out the RMFLS 2025 key findings here.
