A Malaysian financing consultant recently shared a striking case on Threads that captured widespread attention, involving a couple whose combined income exceeded RM10,000 per month—an amount many would consider comfortable. On paper, they appeared financially secure, but reality told a different story: the pair was buried under almost RM95,000 in debt.
The husband, an HR manager, earns RM7,800 monthly, while his wife, working in an administrative role, brings in RM3,000. Together, their household income exceeds RM10,000, which logically should cover typical expenses without stress. However, their fixed monthly commitments paint a starkly different picture:
- House loan: RM2,600
- Husband’s car loan: RM1,400
- Wife’s car loan: RM900
- Family insurance: RM650
- Childcare: RM800
- Husband’s credit card minimum: RM900
- Wife’s credit card minimum: RM400
- Personal loan: RM1,100
In total, their fixed obligations amount to over RM8,000, leaving just about RM1,000 for discretionary spending. When unexpected costs arose, they relied on credit cards, paying only the minimum each month, which prevented their debt from decreasing.
After calculating all outstanding balances—including credit cards and personal loans—the consultant estimated their total debt at nearly RM95,000. Factoring in settlement costs and a financial buffer, a safer restructuring figure would be around RM105,000. With both maintaining good CCRIS records, banks might allow a restructuring of RM110,000 to RM120,000, lowering their consolidated monthly payment to about RM2,000, compared with nearly RM2,400 previously spread across multiple obligations.
The consultant noted that their financial stress wasn’t due to salary but unresolved debt. The husband reportedly admitted that many of their arguments stemmed from these financial pressures. Netizens reflected that even households earning RM10,000 monthly can feel the strain when debt and heavy commitments pile up, highlighting the importance of living within one’s means and properly managing financial obligations.
