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Belanjawanku: Here’s how much money Malaysians need per month for expenses

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The Employees Provident Fund (EPF) together with the Social Wellbeing Research Centre (SWRC) of University of Malaya, has unveiled the Belanjawanku: Expenditure Guide for Malaysian Individuals and Families.

Launched by Finance Minister Yang Amat Berhormat Lim Guan Eng on Monday (4 March) at the EPF Learning Campus, the Belanjawanku provides estimations of minimum monthly expenditures on various types of goods and services for different households residing in the Klang Valley that will allow Malaysians to attain a reasonable ‘standard of living’ or well-being.

It also provides a comprehensive guideline encompassing allocation for basic necessities, social participation, recommended savings, loan repayment and emergencies.

Here’s the minimum amount of money Malaysians need per month to cover their expenses according to the Belanjawanku.

A single, public transport user needs RM1,870
Food: RM550
Housing: RM300
Healthcare: RM30
Transport: RM200
Utilities: RM100
Personal care: RM70
Social participation: RM150
Discretionary expenses: RM130
Annual expenses: RM90
Savings: RM250

A single, car owner needs RM2,490
Food: RM550
Housing: RM300
Healthcare: RM30
Transport: RM770
Utilities: RM100
Personal care: RM70
Social participation: RM150
Discretionary expenses: RM130
Annual expenses: RM140
Savings: RM250

A married couple without children needs RM4,420
Food: RM870
Housing: RM870
Healthcare: RM70
Transport: RM1,020
Utilities: RM290
Personal care: RM100
Social participation: RM200
Discretionary expenses: RM300
Annual expenses: RM300
Savings: RM400

A married couple with one child needs RM5,730
Food: RM1,300
Housing: RM870
Healthcare: RM100
Transport: RM1,030
Utilities: RM300
Childcare: RM650
Personal care: RM120
Social participation: RM240
Discretionary expenses: RM380
Annual expenses: RM340
Savings: RM400

A married couple with two children needs RM6,620
Food: RM1,550
Housing: RM870
Healthcare: RM120
Transport: RM1,040
Utilities: RM310
Childcare: RM1,150
Personal care: RM140
Social participation: RM250
Discretionary expenses: RM390
Annual expenses: RM400
Savings: RM400

An elderly couple needs RM3,090
Food: RM850
Housing: RM700
Healthcare: RM130
Transport: RM500
Utilities: RM290
Personal care: RM90
Social participation: RM170
Discretionary expenses: RM130
Annual expenses: RM230

Also present at the launch event was EPF Chairman Tan Sri Samsudin Osman and other EPF’s top management, dignitaries from various ministries and government agencies, representatives from the Financial Education Network, academicians, and university students, among others.

EPF Chief Executive Officer Tunku Alizakri Alias said: “The underlying motivation for developing Belanjawanku is the problem of low financial literacy, rising cost of living, and over-indebtedness among Malaysians.  Money is an essential component of economy and we are confident that the Belanjawanku serves as a practical reference and foundation for money management.

“This guide will also be adopted by our Retirement Advisory Service (RAS) officers in providing our members financial guidance and advice, complementing what is essentially a flagship EPF service. We expect Belanjawanku to form the bedrock of strong financial well-being, leading to a better quality of life in the long term.”

About the Belanjawanku

The Belanjawanku project was commissioned by the EPF as part of its financial literacy programme, and the detailed research was done by the team at SWRC, led by its Director, Emeritus Professor Datuk Dr Norma Mansor.

The research involved a survey and focus group discussions comprising of researchers from local universities, representatives from the EPF, Credit Counselling and Debt Management Agency (AKPK), Economic Planning Unit, the National Wage Council, NGOs, Bank Negara Malaysia, and experts from industries, which include financial institutions, financial planners, nutritionists and reference persons of specific households residing in Klang Valley.

Belanjawanku will be routinely updated to reflect the change in prices, with versions exclusive to other regions to follow. BelanjawanKu booklet and pamphlet can be downloaded for free from EPF website. The pamphlet is also available at all EPF counters within the Klang Valley.

Photo / EPF (Belanjawanku: Expenditure Guide for Malaysian Individuals and Families Klang Valley 2019)

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