Malaysians’ 2025 money struggles: 5 takeaways and how GOfinance can help

Credit: Mego-Studio on Freepik

Attention, Malaysians, your money habits have been exposed. A new nationwide financial literacy survey by RinggitPlus reveals a mixed picture of how we’re handling money. Some Malaysians are finally planning for retirement, while others are still stuck living paycheck to paycheck. The survey also shows how the middle class, retirees, low-income earners and Gen Z each face different struggles — and take very different approaches to managing money.

The good news? With the right tools, anyone can plan smarter and thrive. Here are five key takeaways from the survey, and how GOfinance can help you turn them into action.

Takeaway 1: Even RM5K–RM10K income doesn’t guarantee financial comfort 

If you’re earning between RM5,000 and RM10,000 but still feel broke by month-end, you’re not alone — more and more Malaysians in this bracket are struggling. A growing number are saving less, living paycheck to paycheck, and picking up side gigs just to cope. Here’s what the survey highlights:

• Daily expenses and lifestyle costs keep climbing

• Savings buffers are shrinking, with fewer people able to set aside more than RM1,000 a month

• More are cutting makan luar, cutting back on leisure, and cancelling subscriptions to make ends meet

A “comfortable” income doesn’t feel so comfortable anymore. Without proper planning, the middle-class risks slipping backwards financially.

How GOfinance helps: Start by building flexible savings with GO+. It’s a handy feature within TNG eWallet that lets you earn potential daily returns of up to 3.5% p.a. on your balance. The best part? You can withdraw anytime, so even small amounts can grow while staying accessible. 

For those looking for something steadier, consider ASNB, a low-risk option designed to deliver consistent long-term returns.

Takeaway 2: You don’t need a high income to build strong financial habits

For Malaysians earning below RM2,000, managing money can be a challenge. But the survey found that many in this group are starting to “level up” financially. More are planning for retirement, learning about credit scores, and taking small but important steps toward better financial health. 

Progress doesn’t come only from income — it often starts with:

• Saving for retirement early, even if it’s just a small amount to build on over time

• Understanding and monitoring your credit score, which helps improve future access to loans or financing

• Consistently setting aside a little bit every month to develop a savings habit

These small steps compound over time and can make a bigger difference than waiting until “I earn more.”

How GOfinance helps: Kick-start your retirement journey with the Private Retirement Scheme (PRS) via Principal in your eWallet and enjoy up to RM3,000 in tax relief from the Inland Revenue Board of Malaysia (LHDN). 

For everyday financial health, you can also check and monitor your credit score anytime with CTOS in your eWallet. Knowing your score helps you understand how banks and lenders see you, whether you’re in a good position to get a loan, a credit card, or better financing rates. Regular checks also let you spot issues early and build towards stronger financial credibility over time. Start building your credit confidence here.

Takeaway 3: Cancelling insurance now could cost you later

When premiums go up, it’s tempting to cut back on insurance or even cancel policies. Many Malaysians are making this trade-off, but the short-term savings can create long-term risks. Here’s why that’s dangerous:

• A single major medical bill could wipe out years of savings

• Unexpected accidents or illnesses don’t wait until you’re financially “ready”

• Rejoining or restoring coverage later often costs much more

Skipping coverage might free up your budget now, but it could leave you vulnerable when life takes a turn.

How GOfinance helps: With your eWallet, you can easily explore and compare affordable insurance or takaful plans in one place. Keep all your policies organised, get timely reminders before renewals, and choose coverage that truly fits your lifestyle and budget. Beyond medical, TNG eWallet also offers protection for your car, motorcycle, travel, critical illness, personal accident, and even home and apartment insurance, giving you peace of mind across different parts of your life.

Takeaway 4: AI is your new financial guru

Forget dusty textbooks or intimidating brochures. Today, Malaysians are turning to digital tools to manage money, and Gen Z is already letting AI apps run their budgets, investments, and spending. The shift is clear:

• 68% of Malaysians now learn about money from social media

• AI budgeting and robo-advisors are becoming mainstream

• Financial management is becoming faster, smarter, and more accessible

This digital shift empowers Malaysians to take control of their finances but it also means knowing which tools you can actually trust.

How GOfinance helps: Stay in control by categorising your spending directly in your eWallet. Use Cash flow to instantly see your money in vs. money out, with a clear pie chart showing exactly where each ringgit goes. For deeper insights, you can email your last 90 days of transactions, then upload it into your favourite AI budgeting tool. This makes it easier to spot spending patterns, cut back on leaks, and set smarter financial goals.

Takeaway 5: EPF alone isn’t a retirement plan

If you’re worried your EPF savings won’t last through retirement, you’re not alone. While confidence in “having enough” for their retirement is slowly improving, most Malaysians still feel unprepared. The numbers highlight why action is needed:

• Inflation keeps pushing up the cost of daily essentials

• Medical bills and healthcare needs rise as we age

• People are living longer, which means your money has to stretch further

Relying solely on EPF can leave a significant gap. Without a clear plan, retirement could arrive faster than your savings can grow.

How GOfinance helps: Start early with the Private Retirement Scheme (PRS) via Principal in your eWallet, and enjoy up to RM3,000 in personal tax relief from the Inland Revenue Board of Malaysia (LHDN). You can also grow your savings along the way with money market funds or unit trust funds from Principal, giving your retirement plan more flexibility and potential returns.

* * *

From the middle-class squeeze to low-income progress, from rising insurance costs to the rise of AI budgeting, 2025 shows that Malaysians are facing both challenges and opportunities with their money.  These five takeaways highlight one clear truth: hoping things will get better on their own isn’t enough, it takes action.

That’s where GOfinance comes in. Whether it’s building flexible savings with GO+, planning for retirement with PRS, checking your credit score with CTOS, or tracking exactly where your money goes, GOfinance gives you the tools to take control and make smarter financial decisions.

Financial confidence isn’t about luck or income level. It’s about building the right habits, taking proactive steps, and having the right support. With GOfinance, you don’t just learn the lessons — you put them into practice.

Ready to turn these takeaways into action? Explore GOfinancetoday and take your first step toward smarter money management.