Money Not Enough !!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Very disheartening when I read a news in the Star website regarding a malaysian who earns RM5,000 a month has to struggle with their daily life now. If I remember clearly, there are about 40% of the Malaysian population earn lesser than that amount. Just cannot imagine how they have managed their daily life especially the married couples with kids.

One just wonder a country blessed with natural resources such as petroleum and palm oil which are fetching very high price now, has seen their peoples suffering in their daily hood.

Seeing a change in leadership will be a good solution to tackle the woes. We need someone who is capable to manage the economy of this country.

May be a solid combination of Datuk Seri Anwar Ibrahim (DSAI) and Tan Sri Dato Zeti Akhtar Aziz will be the answer to all these woes.

Permatang Pauh's voters, you have the big responsibility now. We need your votes to send DSAI to the Parliament.............................................

Malaysians tighten their belts as cost of living goes up

By LOONG MENG YEE (The Star)

LESS then five years ago when public relations executive Ng Mei Lai (not her real name) was finishing her course in a local private university, the Ipoh-born lass had envisaged living the city life with a starting pay of RM2,500.

Now, she earns about RM5,000 a month, plus bonuses and over-time. For a while, the going was good.

Cost conscious: Zuraimi giving his mother-in-law Rianah Said Abdullah a birthday peck during a party at home to cut down expenditure.

The 26-year-old used to go shopping with friends on non-working weekends, and was saving up to buy a house and even travelled overseas once every few years.

She also gives her parents about RM500 each month after paying her rent and car and study loans which amounts to about RM1,500 monthly.

However, with the rise in the cost of living, she has joined the chorus of many Malaysians saying, “money not enough!”

My company pays me about RM1,000 in transportation allowance. That seems a lot, but after the fuel price increase, I really use up that amount because I need to travel to visit clients daily, and parking in the city is not cheap either,” says Ng, who is renting a house with friends in Damansara.

She has cut down on weekend restaurant treats and shelved plans to visit Australia this year.

As for her work, Ng says it is fulfilling but time-consuming. As assignments are erratic, she dares not plan social engagements ahead.

This frustrates her because Ng believes there is more to life than just work.

”I am re-evaluating my life to see if the price to pay for work is too much, no matter how enjoyable the work is.

“I see my seniors struggling to juggle their family time with the long working hours and, quite honestly, the pay is nothing to shout about,” says Ng.

Worse still, the annual increment at work had been minimal at around 5%.

"Even the inflation rate is higher now. I feel employers should feel some solidarity with us and have a special salary revision to cover the increased cost of living,” she adds.

Ng is now thinking of purchasing medical insurance. She already has a life insurance and wants to add on medical protection just in case she decides to become self-employed.

A survey conducted by AXA Affin Life Insurance in 2007 revealed only 36% of Malaysians, like Ng, were satisfied with their careers.

However, this dissatisfaction was fleeting because 51% of the interviewees felt they would be confident of their careers in the coming 12 months.

Zuraimi Mansor, a young father in Cheras, says life in the city is challenging with three children aged between five and nine.

The 33-year-old businessman says he really needs to be creative to stretch the family's RM10,000 monthly income, a combination of his earnings and his wife’s salary as an assistant manager.

There is the RM1,200 monthly payment for the house loan, another RM600 for the car, and RM800 for the two younger children in kindergarten.

“The amount is just nice for us, with some savings for the future. But the fuel price hike really hit hard.

“Now, I can easily spend RM50 on fuel a day because I travel to many places across the city,” says Zuraimi.

Like all parents, Zuraimi wants the best for his children.

The family also pays for life and medical insurances in monthly instalments.

The AXA life outlook survey showed that 69% of their interviewees felt giving their children the best education was the only way for them to succeed in life.

Many were willing to trade off their current living standard to give their children a better education.

However, the interviewees acknowledged many challenges coming their way especially in the next five years – they were concerned about the rising cost of education, additional expenses such as higher tuition fees, and the need to save for tertiary education.

In the pre-fuel hike weekends, Zuraimi usually treated his family to meals in restaurants and took his children to the playground at shopping malls, often spending up to RM150 on each weekend outing.

Now, Zuraimi says, the family eats at home before going shopping and the children only get to play inside the playground twice a month.

“In such pressing times, we must improvise. The money saved can be used to buy household supplies or food.

“Also, no more impulsive shopping. We make a list of things we really need and we shop accordingly,” he says.

He adds that adjustments have to be made because the increase in the price of oil and certain foods was a global phenomenon.

Zuraimi says it is time to be self-reliant, but adds that he is looking forward to measures by the Government to help lessen the financial burden on the man in the street.

“I am open to suggestions. However, I feel there should be a bigger fuel subsidy because it directly helps Malaysians,” he says.