61% of Malaysians Struggle to Raise RM1,000 for Emergencies

Results from Bank Negara Malaysia (BNM)’s Financial Capability and Inclusion Demand Side Survey 2024 showed that 61 percent of Malaysians face difficulty to raise RM1,000 as emergency fund. This seems to have gotten worse as it was 52 percent in 2018 and 47 percent in 2021. Briefly, this meant that we have even more Malaysians who say they could not raise RM1,000 as emergency funds. Many reasons were stated including rising cost of living and even the possibility of overspending too.