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2 over 3 of Malaysians does not have any savings (not even RM1000!)

This post is originally published on Kucing Sakura ( https://kucingsakura.blogspot.com/ ) and is posted here for educational purposes only.                                         Did you know that according to Bank Negara Malaysia, over 75% of Malaysian does not have any savings in their account? Not even RM1000.  That means, out of 31 million population in Malaysia, 23.2 million are at risk of not having any savings in case of emergency. According to a financial consultant, you need to have at least 3-month salary of savings in your account. At least a month saving, minimum. Imagine if there are any unavoidable tragedy happened like losing a job or accident of a family member, or worse - death. Let’s say a standard family of 5 with only the dad working while the mother is a full-time housewife. What would happen to the family if the father is destined to die in an accident? Can any...