A Malaysian man recently sparked discussion online after sharing why earning RM8,000 a month still leaves him struggling to save.
In a post shared by the Facebook page “我的cpf够用吗”, the 30-year-old explained that his decision to work in Singapore was not about chasing bigger dreams, but simply because he could not build savings while staying in Malaysia.
RM8,000 salary, but take home is much lower
The man pointed out that while RM8,000 may seem like a high salary on paper, deductions significantly reduce what actually goes into his pocket.
After EPF, SOCSO, and income tax, his take home pay is around RM6,800.
He then listed out his fixed monthly expenses, which already take up a large portion of his income.
Most of his salary goes to fixed commitments
According to him, his monthly commitments include:
- Housing loan at RM2,100
- Car loan at RM500
- Insurance including medical card and life coverage at RM530
- Phone bill and home WiFi at about RM213
- Daily expenses such as food, petrol, and essentials at RM1,500
After deducting all these, he is left with around RM1,957 each month.
At first glance, this may seem manageable. But the reality looks very different when yearly expenses are taken into account.
Hidden yearly costs eat into savings
The man explained that many people overlook irregular but necessary expenses that add up over time.
These include:
- Health check ups and dental care costing around RM1,000 a year
- Car insurance and road tax at RM1,800
- Vehicle maintenance such as servicing and tyre replacement at about RM1,500
- Festive spending like gifts and angpao at RM1,000
- One annual holiday ranging between RM5,000 and RM10,000
- Online shopping expenses estimated at RM3,000
- Property related taxes at RM1,300
When all these are deducted from his estimated annual savings of RM23,484, he is left with only around RM3,700 a year.
Savings depend heavily on bonuses
He admitted that his monthly salary is just enough to maintain his current lifestyle.
Whether he can save more depends largely on whether his company gives a one or two month bonus at the end of the year.
Without that, his savings remain minimal despite earning what many would consider a decent salary.
“How am I supposed to support a family?”
While he is currently able to get by on his own, he shared concerns about the future.
He questioned how he would manage if he were to get married and have children, given the additional costs such as baby essentials and household expenses.
With such limited savings, he feels uncertain about long term financial stability.
“It’s not about choice, it’s reality”
The man concluded by saying that his move to Singapore was not driven by ambition alone.
Instead, it was a practical decision shaped by financial reality.
What do you think about this? Share your thoughts with us in the comment section.
Here is the post:
READ ALSO:
