Malaysians Like to Shop? 7 Most Spent Things

Every month, Malaysians spend money on family and personal needs such as food, clothing, rent or repaying bank loans.

Based on data from the Department of Statistics Malaysia, the average Malaysian household spends about RM4,535 per month in 2019.

1. Housing

In 2019, Malaysians spent RM1,068 a month on housing, water, electricity, gas and fuel, which reached 23.6% of the average total household expenditure.

Houses remain unaffordable for many Malaysians because house prices are higher than income.

Spending on housing and amenities has more than doubled in the past decade, up from RM495 a month in 2010.Most of the increase occurred between 2010 and 2014, up 14.6% annually.

2. Food and drink

Households spent RM783 a month on food and beverages in 2019, accounting for 17.3% of total expenditure.

Malaysians spend the most on fish and seafood at an estimated RM169 per month, accounting for 3.7% of total expenditure. Meat came in second at RM109 per month or 2.4%, followed by bread and cereals at an estimated RM108 per month.

Food and beverage expenditure increased from RM444 per month in 2010. However, this cost does not include eating out.

3. Transportation

Transportation expenditure is in third place with Malaysians spending RM611 per month, or 13.5% of total expenditure.

Outside the major cities of the Klang Valley, Penang and Johor, public transport is still underdeveloped, so cars and motorcycles remain the main means of transportation for Malaysians.

4. Eat out

Households spent RM604 a month on eating out in 2019, accounting for 13.3% of total expenditure.

Spending on eating out almost tripled from RM233 a month in 2010. 

5. Recreation and culture

Malaysians spend RM229 a month on recreation and culture, or 5.1% of total spending in 2019. That number more than doubled in 2010.

6. Communication

In 2019, Malaysians spend RM229 a month on communications, or 5% of total spending.

With the proliferation of mobile phones and data, Malaysians are increasingly investing in more sophisticated smartphones. Internet service is also a necessity.


Accordingly, monthly spending on communications doubled in 2010.

This spending is expected to increase as mobile phones become more sophisticated in addition to the situation following the Covid-19 outbreak forcing more people to work from home and rely on fast internet speeds.

7. Maintenance

In 2019, Malaysians spend RM200 a month on furniture, home appliances and routine maintenance. This accounts for about 4.4% of total household expenditure, including repairs, tools and equipment as well as garden care.

Expenditure on this also more than doubled in 2010. As smart consumers, we need to make a balance and measure the level of affordability with the income earned so that we will not be burdened with debt. Financial problems and the risk of being burdened with debt can befall anyone if they do not know how to manage their finances prudently.

However, through wise financial management will definitely help you plan your income well. Today, online shopping is on the rise and the activity skyrockets as the festive season arrives.
Therefore, self -discipline is important so as not to spend extravagantly, let alone now we can buy more easily with just our fingertips.

Purchase planning and control is very important so as not to spend extravagantly and measure clothes on your own body.

Do not follow lust and desire!

 

 

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