{"id":8100,"date":"2014-01-03T14:26:49","date_gmt":"2014-01-03T06:26:49","guid":{"rendered":"http:\/\/www.imoney.my\/articles\/?p=8100"},"modified":"2014-08-27T14:16:25","modified_gmt":"2014-08-27T06:16:25","slug":"earning-enough-money","status":"publish","type":"post","link":"https:\/\/www.imoney.my\/articles\/earning-enough-money","title":{"rendered":"Are You Earning Enough Money?"},"content":{"rendered":"

\"money<\/a><\/p>\n

The quest to earn \u201cenough\u201d is one that is without end. Greed or ambition aside, the amount of money a household needs to just survive is being driven up year after year by the common working man\u2019s worst enemy: inflation.<\/p>\n

As reported by Trading Economics<\/a>, inflation has increased from 1.9% in August 2013 to 2.9% in November 2013. Gleaning from the various price hikes in 2014 and the impending Goods and Service Tax (GST) to take effect on April 2015, to see a drop in this percentage is an unlikely event.<\/p>\n

The biggest contributor to price hikes in 2014 is the increase in electricity tariffs by 15% which has affected companies across all industries.<\/p>\n

In light of this revelation, are Malaysian households still earning enough money to \u201csurvive\u201d or have they fallen below the poverty line?\u00a0<\/span><\/p>\n

According to Maybank Investment Bank chief economist Suhaimi Illias to The Star<\/i>, a household income of RM3,000 was enough to keep a family\u2019s head above water 10 years ago. This figure has more than doubled since as he now estimates that a family of four living in Kuala Lumpur would need a \u201csurvivable\u201d household income of RM7,000 to RM10,000 after taking into account the cost of owning two vehicles, a home mortgage, child care expenses, day-to-day expenses, and monthly savings.<\/p>\n

On the other hand, RAM Holdings Bhd group chief economist Dr Yeah Kim Leng said the same family of four could just scrape by with RM5,000 a month.<\/p>\n

<\/span>What are the implications of this new estimation? <\/b><\/span><\/h2>\n

This new estimation is unlikely to severely affect a family of two breadwinners \u2013 which incidentally, is common in most families, earning at least RM3,500 per month per person.<\/p>\n

Conversely, a couple without children living in the Klang Valley can do with just RM2,950 a month:<\/p>\n

\"are<\/a><\/p>\n

For the majority of households still earning less than RM3,000 a month \u2013 which makes up 80% of Malaysian households or 5.2 million families however, this spells heavier financial burden and unrealistic cost-cutting.<\/p>\n

<\/span>What can one do to lighten the burden?<\/b><\/span><\/h2>\n

<\/b>In this day, age, and economy, getting a second job still makes sense \u2013 albeit with much reluctance, to most. But doing so may not be feasible when one has marital and perennial obligations to tend to.<\/span><\/p>\n

Hence, it would appear that the better solution to get above the rising costs of living is to find a better paying job. Gleaning from the\u00a02013\/14 Salary Guide by Kelly Services Malaysia<\/a>, it would appear that the three highest-paying industries are:<\/p>\n

\"are<\/a><\/p>\n

 <\/p>\n

Additionally, speaking to Forbes<\/a>, <\/i>Thomas Frey, author of Communicating With The Future<\/i> laid out six growing (and high-paying) professions of the future:<\/p>\n

    \n
  1. Logistician:<\/strong> Companies seek out logisticians to streamline production and cut costs.<\/li>\n
  2. Ethical hacker:<\/strong> Companies hire ethical hackers to purposefully hack their systems to find problems in their security measures.<\/li>\n
  3. Actuary:<\/strong> The skills of an actuary is sought after by insurance companies, banks, consulting firms, and the government.<\/li>\n
  4. Epidemiologist:<\/strong> Advancement in technology is predicted to benefit those in this field of uncovering the cause of ailments and illness, review of sterilisation techniques, and creation of containment protocols.<\/li>\n
  5. Front end engineer:<\/strong> Companies seek the skills of front end engineers to help make their websites more intuitive and effective.<\/li>\n
  6. Food chemist:<\/strong> The task of food chemists is the development and improvement of the taste and texture of food.<\/li>\n<\/ol>\n

    Time spent on job listings and attending interviews aside, landing a job in any of these industries will require you to upgrade or acquire a new skill (in some cases, even further education) to meet the requirements of the job.<\/p>\n

    Some may find that saving more money by getting a higher paying job is not enough to combat the rising inflation rate. Other ways one can create more wealth is by managing the money earned in a more intelligent way, such as investing wisely.<\/p>\n

    However, these temporary burden and inconveniences are well worth it in the long-run as cost-cutting and reliance on 1Malaysia People\u2019s Aid (BR1M) payout, despite being increased in Budget 2014, will no longer enable a family to live a comfortable lifestyle in this troubled times.<\/p>\n

    <\/span>So, are you earning enough money?<\/b><\/span><\/h2>\n

    If you fall into the group of people already earning at least RM3,500 and above, it\u2019s safe to say that with better management of your monthly expenses and some cost-cutting, you\u2019re prepared to face 2014.<\/p>\n

    For those earning minimum wage of below RM3,000, short-term sacrifices in regards to lifestyle and time must be made in the pursuit of better employment.<\/p>\n

    Are you ready to make some cost-cutting ventures? These\u00a010 simple ways<\/a>\u00a0may help you get started.\u00a0<\/strong><\/h3>\n","protected":false},"excerpt":{"rendered":"

    The quest to earn \u201cenough\u201d is one that is without end. Here\u2019s how you can earn more this year to combat inflation. <\/p>\n","protected":false},"author":1,"featured_media":8102,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[218],"tags":[219],"class_list":["post-8100","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-money-management","tag-bi"],"acf":[],"yoast_head":"\nAre You Earning Enough Money? | iMoney<\/title>\n<meta name=\"description\" content=\"Are Malaysian households still earning enough money to \u201csurvive\u201d or have they fallen below the poverty line?\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.imoney.my\/articles\/earning-enough-money\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Are You Earning Enough Money? | iMoney\" \/>\n<meta property=\"og:description\" content=\"Are Malaysian households still earning enough money to \u201csurvive\u201d or have they fallen below the poverty line?\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.imoney.my\/articles\/earning-enough-money\" \/>\n<meta property=\"og:site_name\" content=\"iMoney Malaysia\" \/>\n<meta property=\"article:published_time\" content=\"2014-01-03T06:26:49+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2014-08-27T06:16:25+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/static.imoney.my\/articles\/wp-content\/uploads\/2014\/01\/salary-money.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"401\" \/>\n\t<meta property=\"og:image:height\" content=\"401\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"iMoney Editorial\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"iMoney Editorial\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.imoney.my\\\/articles\\\/earning-enough-money#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.imoney.my\\\/articles\\\/earning-enough-money\"},\"author\":{\"name\":\"iMoney Editorial\",\"@id\":\"https:\\\/\\\/www.imoney.my\\\/articles\\\/#\\\/schema\\\/person\\\/2dc429bac9840e75ad08ab242c57dcbb\"},\"headline\":\"Are You Earning Enough Money?\",\"datePublished\":\"2014-01-03T06:26:49+00:00\",\"dateModified\":\"2014-08-27T06:16:25+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.imoney.my\\\/articles\\\/earning-enough-money\"},\"wordCount\":760,\"commentCount\":0,\"image\":{\"@id\":\"https:\\\/\\\/www.imoney.my\\\/articles\\\/earning-enough-money#primaryimage\"},\"thumbnailUrl\":\"\\\/articles\\\/wp-content\\\/uploads\\\/2014\\\/01\\\/salary-money.jpg\",\"keywords\":[\"BI\"],\"articleSection\":[\"Money Management\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\\\/\\\/www.imoney.my\\\/articles\\\/earning-enough-money#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.imoney.my\\\/articles\\\/earning-enough-money\",\"url\":\"https:\\\/\\\/www.imoney.my\\\/articles\\\/earning-enough-money\",\"name\":\"Are You Earning Enough Money? | iMoney\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.imoney.my\\\/articles\\\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\\\/\\\/www.imoney.my\\\/articles\\\/earning-enough-money#primaryimage\"},\"image\":{\"@id\":\"https:\\\/\\\/www.imoney.my\\\/articles\\\/earning-enough-money#primaryimage\"},\"thumbnailUrl\":\"\\\/articles\\\/wp-content\\\/uploads\\\/2014\\\/01\\\/salary-money.jpg\",\"datePublished\":\"2014-01-03T06:26:49+00:00\",\"dateModified\":\"2014-08-27T06:16:25+00:00\",\"author\":{\"@id\":\"https:\\\/\\\/www.imoney.my\\\/articles\\\/#\\\/schema\\\/person\\\/2dc429bac9840e75ad08ab242c57dcbb\"},\"description\":\"Are Malaysian households still earning enough money to \u201csurvive\u201d or have they fallen below the poverty line?\",\"breadcrumb\":{\"@id\":\"https:\\\/\\\/www.imoney.my\\\/articles\\\/earning-enough-money#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\\\/\\\/www.imoney.my\\\/articles\\\/earning-enough-money\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/www.imoney.my\\\/articles\\\/earning-enough-money#primaryimage\",\"url\":\"\\\/articles\\\/wp-content\\\/uploads\\\/2014\\\/01\\\/salary-money.jpg\",\"contentUrl\":\"\\\/articles\\\/wp-content\\\/uploads\\\/2014\\\/01\\\/salary-money.jpg\",\"width\":401,\"height\":401},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\\\/\\\/www.imoney.my\\\/articles\\\/earning-enough-money#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\\\/\\\/www.imoney.my\\\/articles\\\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Money Management\",\"item\":\"https:\\\/\\\/www.imoney.my\\\/articles\\\/category\\\/money-management\"},{\"@type\":\"ListItem\",\"position\":3,\"name\":\"Are You Earning Enough Money?\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\\\/\\\/www.imoney.my\\\/articles\\\/#website\",\"url\":\"https:\\\/\\\/www.imoney.my\\\/articles\\\/\",\"name\":\"iMoney Malaysia\",\"description\":\"Everything you need to know about improving your personal finances.\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\\\/\\\/www.imoney.my\\\/articles\\\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\\\/\\\/www.imoney.my\\\/articles\\\/#\\\/schema\\\/person\\\/2dc429bac9840e75ad08ab242c57dcbb\",\"name\":\"iMoney Editorial\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/484677d6814081d0b791a545e2dd7d826425b53411de07415367b72a884f01c8?s=96&d=mm&r=g\",\"url\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/484677d6814081d0b791a545e2dd7d826425b53411de07415367b72a884f01c8?s=96&d=mm&r=g\",\"contentUrl\":\"https:\\\/\\\/secure.gravatar.com\\\/avatar\\\/484677d6814081d0b791a545e2dd7d826425b53411de07415367b72a884f01c8?s=96&d=mm&r=g\",\"caption\":\"iMoney Editorial\"},\"description\":\"iMoney Editorial Team is composed of 4 writers with wide-ranging interests and areas of expertise. Their primary responsibility is to write financial-related articles to share and educate Malaysians on how to save, make and grow their money.\",\"sameAs\":[\"http:\\\/\\\/www.imoney.my\"],\"url\":\"https:\\\/\\\/www.imoney.my\\\/articles\\\/author\\\/chinglee\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Are You Earning Enough Money? | iMoney","description":"Are Malaysian households still earning enough money to \u201csurvive\u201d or have they fallen below the poverty line?","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.imoney.my\/articles\/earning-enough-money","og_locale":"en_US","og_type":"article","og_title":"Are You Earning Enough Money? | iMoney","og_description":"Are Malaysian households still earning enough money to \u201csurvive\u201d or have they fallen below the poverty line?","og_url":"https:\/\/www.imoney.my\/articles\/earning-enough-money","og_site_name":"iMoney Malaysia","article_published_time":"2014-01-03T06:26:49+00:00","article_modified_time":"2014-08-27T06:16:25+00:00","og_image":[{"width":401,"height":401,"url":"https:\/\/static.imoney.my\/articles\/wp-content\/uploads\/2014\/01\/salary-money.jpg","type":"image\/jpeg"}],"author":"iMoney Editorial","twitter_card":"summary_large_image","twitter_misc":{"Written by":"iMoney Editorial","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.imoney.my\/articles\/earning-enough-money#article","isPartOf":{"@id":"https:\/\/www.imoney.my\/articles\/earning-enough-money"},"author":{"name":"iMoney Editorial","@id":"https:\/\/www.imoney.my\/articles\/#\/schema\/person\/2dc429bac9840e75ad08ab242c57dcbb"},"headline":"Are You Earning Enough Money?","datePublished":"2014-01-03T06:26:49+00:00","dateModified":"2014-08-27T06:16:25+00:00","mainEntityOfPage":{"@id":"https:\/\/www.imoney.my\/articles\/earning-enough-money"},"wordCount":760,"commentCount":0,"image":{"@id":"https:\/\/www.imoney.my\/articles\/earning-enough-money#primaryimage"},"thumbnailUrl":"\/articles\/wp-content\/uploads\/2014\/01\/salary-money.jpg","keywords":["BI"],"articleSection":["Money Management"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/www.imoney.my\/articles\/earning-enough-money#respond"]}]},{"@type":"WebPage","@id":"https:\/\/www.imoney.my\/articles\/earning-enough-money","url":"https:\/\/www.imoney.my\/articles\/earning-enough-money","name":"Are You Earning Enough Money? | iMoney","isPartOf":{"@id":"https:\/\/www.imoney.my\/articles\/#website"},"primaryImageOfPage":{"@id":"https:\/\/www.imoney.my\/articles\/earning-enough-money#primaryimage"},"image":{"@id":"https:\/\/www.imoney.my\/articles\/earning-enough-money#primaryimage"},"thumbnailUrl":"\/articles\/wp-content\/uploads\/2014\/01\/salary-money.jpg","datePublished":"2014-01-03T06:26:49+00:00","dateModified":"2014-08-27T06:16:25+00:00","author":{"@id":"https:\/\/www.imoney.my\/articles\/#\/schema\/person\/2dc429bac9840e75ad08ab242c57dcbb"},"description":"Are Malaysian households still earning enough money to \u201csurvive\u201d or have they fallen below the poverty line?","breadcrumb":{"@id":"https:\/\/www.imoney.my\/articles\/earning-enough-money#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/www.imoney.my\/articles\/earning-enough-money"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/www.imoney.my\/articles\/earning-enough-money#primaryimage","url":"\/articles\/wp-content\/uploads\/2014\/01\/salary-money.jpg","contentUrl":"\/articles\/wp-content\/uploads\/2014\/01\/salary-money.jpg","width":401,"height":401},{"@type":"BreadcrumbList","@id":"https:\/\/www.imoney.my\/articles\/earning-enough-money#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/www.imoney.my\/articles\/"},{"@type":"ListItem","position":2,"name":"Money Management","item":"https:\/\/www.imoney.my\/articles\/category\/money-management"},{"@type":"ListItem","position":3,"name":"Are You Earning Enough Money?"}]},{"@type":"WebSite","@id":"https:\/\/www.imoney.my\/articles\/#website","url":"https:\/\/www.imoney.my\/articles\/","name":"iMoney Malaysia","description":"Everything you need to know about improving your personal finances.","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/www.imoney.my\/articles\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/www.imoney.my\/articles\/#\/schema\/person\/2dc429bac9840e75ad08ab242c57dcbb","name":"iMoney Editorial","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/secure.gravatar.com\/avatar\/484677d6814081d0b791a545e2dd7d826425b53411de07415367b72a884f01c8?s=96&d=mm&r=g","url":"https:\/\/secure.gravatar.com\/avatar\/484677d6814081d0b791a545e2dd7d826425b53411de07415367b72a884f01c8?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/484677d6814081d0b791a545e2dd7d826425b53411de07415367b72a884f01c8?s=96&d=mm&r=g","caption":"iMoney Editorial"},"description":"iMoney Editorial Team is composed of 4 writers with wide-ranging interests and areas of expertise. Their primary responsibility is to write financial-related articles to share and educate Malaysians on how to save, make and grow their money.","sameAs":["http:\/\/www.imoney.my"],"url":"https:\/\/www.imoney.my\/articles\/author\/chinglee"}]}},"_links":{"self":[{"href":"https:\/\/www.imoney.my\/articles\/wp-json\/wp\/v2\/posts\/8100","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.imoney.my\/articles\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.imoney.my\/articles\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.imoney.my\/articles\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.imoney.my\/articles\/wp-json\/wp\/v2\/comments?post=8100"}],"version-history":[{"count":14,"href":"https:\/\/www.imoney.my\/articles\/wp-json\/wp\/v2\/posts\/8100\/revisions"}],"predecessor-version":[{"id":11408,"href":"https:\/\/www.imoney.my\/articles\/wp-json\/wp\/v2\/posts\/8100\/revisions\/11408"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.imoney.my\/articles\/wp-json\/wp\/v2\/media\/8102"}],"wp:attachment":[{"href":"https:\/\/www.imoney.my\/articles\/wp-json\/wp\/v2\/media?parent=8100"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.imoney.my\/articles\/wp-json\/wp\/v2\/categories?post=8100"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.imoney.my\/articles\/wp-json\/wp\/v2\/tags?post=8100"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}