Disclaimer: In Real Life is a platform for everyday people to share their experiences and voices. All articles are personal stories and do not necessarily echo In Real Life’s sentiments.
Once upon a time, a young couple met and fell in love. They shared many similar passions; the love for food, the passion for travelling and most importantly, the desire to start a family of their own. So down the wedding aisle they went.
You see, they had it all planned out. They would climb corporate ranks, raise 2 loving kids, travel the world, and live in a big beautiful house. But then, reality came crashing down. They realized how hard it was for working-class families to make ends meet.
Stock image used for illustrative purposes.
Wait a minute, how hard can it be, you might ask. Quite tricky, in fact.
While it is possible to live a comfortable life, the path to attaining one can be rather challenging. To give you an idea of some of the challenges faced by young Malaysian families, we’ve put together a little list just for you:
CAR & HOUSING LOANS
Stock image used for illustrative purposes.
According to The Star, the average middle-class household rakes in a monthly income of around RM8,000 – 9,000 per month. That sounds like quite a lot, doesn’t it?
But take that amount and deduct around RM4,000 per month to cover the cost of your house and car loans, and we are left with just half of what you earned. Half! Oh, the heartbreak!
I, for one, can feel the aching pain every month when my salary gets siphoned to pay for the house and car even before it gets to warm up my bank account.
HEALTHCARE BILLS
Now, please take into consideration our family members’ health. If we have babies and toddlers, we’ll need to send them for immunization shots once every few months.
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Not to mention all the medications they’ll need for the occasional cough, sniffles, and allergies that never seem to go away. And how about caring for our ageing parents?
My husband and I are blessed in the sense that we don’t have to face this kind of challenge, but some families spend a fortune to care for their frail and ageing parents. And oh, and don’t forget the insurance bills for the whole family too.
So we can count ourselves lucky if all these healthcare bills set us back by another RM1,000 per month.
GROCERIES & ESSENTIALS
Let’s face it. We need food and toiletries. Every single day. Plus, our babies need their milk and diapers too!
Also, there will be times when we’ll allow ourselves to indulge in a little shopping spree or two (Christmas shopping or a Shopee Mega Sale, anyone?).
Aside from that, our cars need to guzzle down some petrol, and we need to keep the electricity, water, and internet coming, right?
So, all in all, maybe another RM2,000 – RM3,000 down the drain?
CHILDREN’S EDUCATION
Last but not least, we have our children’s future to think about. These days, sending our little ones to school isn’t enough.
Stock image used for illustrative purposes.
With the ‘kiasu’ wave washing up the Malaysian shores, parents are frantically signing up their kids for all kinds of enrichment programs.
And as if that wasn’t enough, more and more parents are opting to send their kids to private schools, which spells ‘ka-ching, ka-ching’.
Another RM500 – RM1,000 gone, perhaps?
So here’s a rough calculation:
RM4,000 : House and car loans
RM1,000 : Healthcare bills
RM2,000-3,000 : Groceries and Essentials
RM500 – RM1,000 : Children’s education
Total: RM9,000
So you see, after deducting all taxes and expenses at the end of the month, middle-income families are genuinely left with very little savings for the future.
To overcome this, many opt to work 2 – 3 jobs while a few savvy others invest in shares, REITs, and unit trusts, and a fearless minority try their hands at some other forms of business investments.
“Whatever it is, we salute all these families and tireless warriors who are working hard, trying to pave the way for a better future. We wish every single family out there all the best.”
Know anyone with an exciting story to share? Drop us an email at hello@inreallife.my, and we may feature the story!
For more stories like this, read:
68yo Shoe Cobbler Has Been Fixing Shoes At RM2-10 For Over 30 Years Now!
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