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Delay Marriage Plans If Earning Below RM1,500, Advises Economist

Delay Marriage Plans If Earning Below RM1,500, Advises Economist

Individuals earning less than RM1,500 are categorized as less privileged, falling below the national poverty threshold.

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While lovebirds naturally aspire to seal their bond in marriage, many contemporary couples are opting to postpone this milestone due to a multitude of factors. 

A primary factor contributing to this delay is financial considerations, driven by the escalating cost of living.

Notably, economists suggest that individuals earning less than RM1,500 should consider deferring their marriage plans.

Earning Below RM1,500 Falls Below the National Poverty Threshold

For those with incomes below RM1,500, it’s advisable to divert attention towards activities that can bolster financial stability, momentarily setting aside marriage plans.

 According to Emeritus Professor of Economics Dr Barjoyai Bardai, in a report by Kosmo, the national poverty threshold is benchmarked at an income level of RM2,208.

For individuals whose income dips below RM1,500, they find themselves classified among the less privileged, their earnings falling short of the threshold. 

Conversely, those surpassing the national poverty threshold enjoy greater household stability and a reduced risk of future financial challenges.

If someone struggles to make ends meet with a monthly salary of RM1,500, the challenges intensify after marriage, involving additional responsibilities and commitments. Even with a frugal budget, they may scrape by briefly, but what about other essential expenses? Hence, it becomes imperative to shore up personal and familial financial prospects.

Emeritus Professor of Economics Dr Barjoyai Bardai

Women Are Justified in Choosing Financially Stable Men

Dr. Bardai further contends that women who prioritise financially stable partners with higher incomes are neither misguided nor out of touch with reality.

“When the sole motive for marriage is security, proceeding with such intentions may not be prudent. However, if individuals can adeptly manage their finances and receive support from well-off families, there’s no issue,” he added.

This perspective finds resonance with Dr. Ahmed Razman Abd. Latiff, an Economic Analyst at the Putra Business School, Universiti Putra Malaysia, who asserts that tying the knot with a partner earning RM1,500 or less has lost its relevance.

“Even if someone manages to secure an income of RM2,500, they would still be categorised as financially challenged. Their salary must be weighed against housing costs, transportation, utilities, food, insurance, and daily expenses,” he explains.

Dr. Ahmed Razman underscores the importance of identifying the factors that influence spending habits.

EPF Estimates Married Couples Without Children Need a Monthly Budget of RM4,630 in the Klang Valley

For reference, the Employees Provident Fund (EPF) issued the Panduan Perbelanjaanku 2022/2023 (My Spending Guide) on June 13. 

According to this guide, married couples without children should earmark RM4,630 monthly, while those with one child require an estimated monthly budget of RM5,980 in the Klang Valley. 

These figures vary across various cities in different states, including Johor Bahru, Ipoh, Alor Setar, and Kota Kinabalu.

Source: Belanjawanku 2022/2023

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