According to a study by the Social Wellbeing Research Centre (SWRC), a single person living in Klang Valley may manage on a monthly pay of RM2,600.
The researchers developed Belanjawanku, an expenditure guide, to offer Malaysians anticipated minimal monthly expenses on various products and services. It was created to achieve a suitable and acceptable standard of life.
According to SWRC research conducted in 2018, a fair level of living is defined as having the financial means to finance. Not only the bare necessities but also the opportunity to engage in society to live a good and dignified life.
The research was conducted using a questionnaire survey, focus group discussions, a pricing survey, and historical data from the Department of Statistics and Bank Negara Malaysia. Also included data from the Household Expenditure and Income Survey (HEIS) and price data from KPDNKK, LKIM, and FAMA.
A single person with a car will need RM2,600 per month to live comfortably in Klang Valley.
Food, housing, transportation, and utilities make up most of Belanjawanku basket prices.
The research has revealed in great detail what happens to a person’s spending as they transition from one type of household to another. This knowledge is also helpful for comparing one’s circumstances before and after making a large financial decision.
It can be a helpful tool for people to manage their money sensibly and for policymakers to step in when necessary to offer adequate income support for all Malaysians to participate in society.
The EPF and SWRC Belanjawanku teams will continue to update the figures regularly, considering inflation and/or changes in the pricing of products and services. Belanjawanku will be updated as government policies or major events change.
This is the guide’s breakdown:
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Food – RM610
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Housing (room rental) – RM370
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Healthcare – RM30
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Transportation – RM760
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Utilities – RM90
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Personal savings – RM250
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Ad hoc/One-off – RM140
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Social participation – RM150
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Discretionary expenses – RM130
