MALAYSIA: Starting a first full-time job can be both exciting and daunting, especially when it comes to managing finances. A 22-year-old fresh graduate in Selangor recently shared her concerns about how to budget her RM4,400 (S$1,300) monthly salary, considering factors like savings, parental allowance, car ownership, and career progression.
Many young professionals face the same dilemma: balancing financial security, lifestyle spending, and career development. With Malaysia’s rising living costs, making smart financial decisions early can lay the foundation for long-term stability.
One key question she raised is whether to stay in her current job or continue searching for a higher-paying role. Working in IT and tech, she acknowledges that she could land a RM5,000 to RM5,500 job in another company. However, her current company offers great benefits, career growth, and a positive work culture—things that might not come with a higher salary elsewhere.
Another major decision fresh graduates often face is whether to buy a car or rely on public transport. With a daily three-hour commute, owning a vehicle seems like an appealing option for convenience and time-saving.
Advice from experienced workers
Redditors shared valuable advice. One user emphasised that at this stage, “investing in one’s self is more important than extreme saving”, recommending she prioritise increasing her earning potential with further education or career-enhancing courses.
Another user urged her to avoid peer pressure and focus on financial independence. “Be disciplined with spending, save as much as possible, and buy second-hand cars rather than new ones.” They also recommended The Four Pillars of Investing as a useful book for financial literacy.
Some pointed out how commuting costs could add up significantly, making renting a home near work a smarter option. They highlighted how fuel, toll, and car maintenance expenses could quickly eat into her salary. More importantly, they emphasised the toll a long commute could take on her mental health, warning that spending hours stuck in traffic daily could lead to frustration and burnout.
A balanced approach to money and career
There’s no one-size-fits-all solution. The fresh graduate’s focus on saving and supporting her family is commendable, but she should also consider her long-term career growth and quality of life.
Her best course of action may be to continue evaluating job offers while appreciating the development opportunities in her current role. Investing in skill development and education could increase her earning potential and improve career progression.
At the same time, realistic budgeting will help her save for the future while still enjoying life. By making informed decisions now, she can build a solid financial foundation and set herself up for long-term success.
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