Households not saving enough, youth spending on credit, says report

The Statistics Department's chief statistician, Mohd Uzir Mahidin, says young people are spending before income is earned, unlike the older generation. – The Malaysian Insight file pic, November 21, 2017.

MALAYSIANS are not saving enough, with total household savings amounting to just 0.9%, or RM6 billion, of overall household income, reported The Edge.

The report quoted the Statistics Department’s chief statistician, Mohd Uzir Mahidin, as saying yesterday the amount was meagre compared with total household savings of RM638.8 billion in 2014.

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