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main reason why Malaysians did not save money was because they wanted to pay off their debts first.
According to a survey on young Malaysians' money management conducted in May 2019, 32 percent of respondents claimed that they saved less than 20 percent of their income. Another survey conducted in the same year found that the Share of income saved by millennials in Malaysia as of May 2019
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iMoney.my. (August 5, 2019). Share of income saved by millennials in Malaysia as of May 2019 [Graph]. In Statista. Retrieved June 08, 2024, from https://www.statista.com/statistics/1136657/malaysia-income-saved-by-millennials/
iMoney.my. "Share of income saved by millennials in Malaysia as of May 2019." Chart. August 5, 2019. Statista. Accessed June 08, 2024. https://www.statista.com/statistics/1136657/malaysia-income-saved-by-millennials/
iMoney.my. (2019). Share of income saved by millennials in Malaysia as of May 2019. Statista. Statista Inc.. Accessed: June 08, 2024. https://www.statista.com/statistics/1136657/malaysia-income-saved-by-millennials/
iMoney.my. "Share of Income Saved by Millennials in Malaysia as of May 2019." Statista, Statista Inc., 5 Aug 2019, https://www.statista.com/statistics/1136657/malaysia-income-saved-by-millennials/
iMoney.my, Share of income saved by millennials in Malaysia as of May 2019 Statista, https://www.statista.com/statistics/1136657/malaysia-income-saved-by-millennials/ (last visited June 08, 2024)
Share of income saved by millennials in Malaysia as of May 2019 [Graph], iMoney.my, August 5, 2019. [Online]. Available: https://www.statista.com/statistics/1136657/malaysia-income-saved-by-millennials/