RMFLS 2025: Lower-Income Malaysians Advance in Financial Planning Amid Middle-Class Struggles

KUALA LUMPUR, 1 October 2025 – RinggitPlus released the 2025 Malaysian Financial Literacy Survey (RMFLS), revealing mixed financial progress. Lower-income earners (below RM2,000/month) now plan for retirement at 55%, up from 48% last year, with 40% less unfamiliarity with credit scores and 36% avoiding Buy Now, Pay Later services. Gen Z shines too: 40% save over RM500 monthly (up from 36%), only 11% save nothing, and 57% prepare for retirement, leveraging AI tools (62% usage).

Financial Planning

Conversely, middle-income (RM5,000–RM10,000/month) savings dipped, with just 23% saving RM1,001–RM1,500 (down from 29%) and 39% under RM500 (up from 31%). Only 27% can sustain six months without income, and 54% feel financially better off (down from 58%). Rising insurance costs prompted 22% to cut or cancel policies.

Overall, 64% plan for retirement (up from 60%), 68% learn via social media, and traditional investments dominate, though Gen Z favors crypto. CEO Yuen Tuck Siew urged focus on the middle class for sustainable growth. The survey, endorsed by FEN, polled over 3,000 respondents.

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