3 out of 4 Malaysians can’t raise RM1,000, in an emergency 
Apr 12 2017, 10:28 PM
QUOTE(dupe A/C @ Apr 12 2017, 09:58 PM)
But seriously the situation is pretty dire if 75% cannot afford to raise 1K in case of emergency. The situation in UK is no different:
Millions have less than £100 in savings, study finds
More than 16m people in the UK have savings of less than £100, a study by the Money Advice Service (MAS) has found.
In five areas of the country, more than half the adult population has savings below that level.
Those areas are Northern Ireland, the West Midlands, Yorkshire and Humber, North East England and Wales.
The MAS said the findings were worrying and presented a particular challenge for low earners.
"These figures show the millions put at risk by the saving gaps in the UK," said Nick Hill, money expert at the service.
"For some on low incomes, saving is a real challenge as they may simply lack the income needed to save at all."
The research was carried out for MAS by the consumer data company CACI which has a database of 48m UK adults.
More at:
http://www.bbc.co.uk/news/business-37504449
its not dire, its just that people have higher expectancy of income than reality; the reality is the average of national income in the world is not that high, msia household average is about 5k ish depending where you go ; while developed nations 7-8kMillions have less than £100 in savings, study finds
More than 16m people in the UK have savings of less than £100, a study by the Money Advice Service (MAS) has found.
In five areas of the country, more than half the adult population has savings below that level.
Those areas are Northern Ireland, the West Midlands, Yorkshire and Humber, North East England and Wales.
The MAS said the findings were worrying and presented a particular challenge for low earners.
"These figures show the millions put at risk by the saving gaps in the UK," said Nick Hill, money expert at the service.
"For some on low incomes, saving is a real challenge as they may simply lack the income needed to save at all."
The research was carried out for MAS by the consumer data company CACI which has a database of 48m UK adults.
More at:
http://www.bbc.co.uk/news/business-37504449
since this is household and if you seperate it into 2, its about 2.5k (MY), 4k (SG) and 3.5k (aus)
without going into purchasing power, we kinda realise most people earn less than what we believe they do and since its an average, basically it also means a huge group of people aern less than that.
this makes it much obvious really, at 2.5k , 1 k is 50% of nett income after tax, most people i know cant save 50% and to make matters interesting, you have life "milestones" to keep up to, a reasonably priced car has a DP of 5-10k, a wedding can take 25k and a house 50k a month, all just downpayments
so basically if anyone is to earn average wage, the accumulation of all 3 would hit him 80k, theres not much room for savings really.
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