How Well Can You Live On RM5000 Take Home Salary In Kuala Lumpur, Malaysia In 2024?

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Today’s Video

Malaysia’s currency, the Ringgit has been depreciating against other currencies over the last several years. This then begs the question “How well can one live on a RM5000 take home salary in the country’s most expensive place - Kuala Lumpur?

How would their quality of life look like? What kind of car would they be driving? What kind of food choices would they have to make? Are they able to travel overseas? We will answer all these and more in this video!

If you are new to this channel, we are Fran and John, the Corporate Breakout Couple. Fran is Malaysian and John is Singaporean. We broke out of the corporate rat race in Singapore and retired early in year 2020 at the age of 40 years old. We love doing cost of living videos from countries all around the world and early retirement videos, to inspire and motivate people to get out of their comfort zones and go for their dreams!

We hope you enjoy watching this video, and do let us know in the comment section if you like it!

With lots of love - Fran and John

Timestamps:

00:00 How Well Can You Live On RM5000 Take Home Salary In KL
01:12 1. Profile & Take Home Salary
02:22 2. Budget Breakdown
06:02 3. Bursting The RM5000 Budget
07:14 4. The Debt Trap Is Very Real In Malaysia

Related Videos:

Kuala Lumpur, Malaysia Edition 2023 - The Real Cost of Living

Retiring in Kuala Lumpur, Malaysia - Why Here?

How Well Can You Live On SGD$5000 Take Home Salary In Singapore?

Early Retirement In Penang, Malaysia 2023. How Much MONEY (Cash Flow) Do YOU Need Per Month?

Retiring in Johor, Malaysia 2023 - How Much Does It Cost To Live Well? We Break Down The Numbers

Credits

Talent MY
Perodua
Bloomberg
Yahoo Finance
Free Malaysia Today
Redone Malaysia

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[corporatebreakoutcouple]

Thank you for watching our video!
Do you think YOU can live well on RM5000 in KL? Yes or no?
Let us know in the comments below!

[NeutralsFong]

I was saving 70% take home income when I was earning rm5k a month, why need a car when the monthly pass for unlimited trains and buses only costs RM50 a month? Insurance is not a necessity if company has healthcare benefits. You don't need to eat rm15-rm20 meal. There are still rm7-rm11 meals in KL, drink water in office, don't need to order drinks.

[abellyold]

If possible, don't own a car. Repairs, tyre replacement，insurance, road tax, license renewal, fuel, toll and parking fees put together are wealth killers.

[garyt]

When we traveled back to Malaysia for the holidays, my wife (born in PJ) met up with her girlfriends. They went out shopping at a mall. My wife looked at the prices and thought she saw bargins. Her friends told her she was looking at the prices from the standpoint of someone living in the States and not a local. I still think it is difficult for the average person in Malaysia to make ends meet. Appreciate the vlog.

[brahmasmind]

500g of chicken cost us around RM9, which you can cook for 5 to 6 meals.

[gasolina]

Better breakdown for single person (Net pay: RM5061):

Car owner:
1. Perodua Bezza Car - RM460 (9 years instalment)
2. Fuel and Toll - RM350
3. Telecom Umobile - RM38 (Unlimited Internet and Calls)
4. Food & Necessities - RM1000

5. Insurance - RM300
6. Parents Allowance - RM500 (assuming they have their retirement fund)
7. Rental and Utilities - RM900 (Medium room at luxury condo)
8. Saving - RM1500 +-

Non-car owner:
1. MRT and Grab - RM50 (Public transport Unlimited Pass + RM100 Grab (for weekend)
3. Telecom Umobile - RM38 (Unlimited Internet and Calls)
4. Food & Necessities - RM1000
5. Insurance - RM300
6. Parents Allowance - RM500 (assuming they have their retirement fund)
7. Rental and Utilities - RM900 (Medium room at luxury condo)
8. Saving - RM2000 +-

[JohnnyJohnJon]

No way I can survive on RM5k a month . So glad I got a job with an overseas company working remotely .

[newjourney]

You can only afford to rent a room in KL (RM800 for that matter). Not to mention CC debts

[davidhamtaro]

Pray for good health. One night stay in a private hospital in Subang jaya costs from Rm1k to 20k easily.

[LonganLee]

Loan is Debt but society promotes, encourages loans as if it must be done even if you have cash, as if it's a smart leverage

[robinwee]

Tough life if work and stay in KL unless higher salary.

[Robmar]

Income tax is so low in Malaysia compared to the western countries like US and Canada.

[D-Khalid]

1.4k sgd? Sick. My rental in SG is giving me 4.8k SGD.. technically I can retire in Msia while earning passive rental.

[fuandymuhammad]

Put also education for kids...and money send to parents... Personal loan, credits card and tax, road tax, door tax and everything... Ue formula 1/12 is better...
So we may know how hard life in Malaysia after mco

[enghuahlean]

Please make a video about how to survive on a Rm2.5k salary in KL

[brahmasmind]

We should go life policy then the medical cause, worst case scenario government still providing us medical but not cash. Apa macam suka ka so create cash.

[brahmasmind]

Malaysia not hard at all, people like us who make the hardship.

[Ben_Chode_]

Solution: be stingy and only eat/buy what you really need. Having less money doesnt mean you cant enjoy life but you need to stop wastage e.g. electricity, food, water, driving like an idiot consumes more oil, etc...

[Wendy-dmox]

In reality, many have stopped giving money to their parents 😂

[vaultsama]

What you guys are earning 5k...I only get 2.5k😢😢