Middle class life in Malaysia: A case study of teachers’ spending patterns on asset ownership and financial investment

Financial planning is essential for proper life management. For the middle class , permanent and regular incomes provide both the opportunities and challenges in spending management . The opportunities refer to saving and possibilities while the challenges pertain to the imperative of efficient financial management to balance things up. This study took a closer look at the spending patterns of 812 Malaysian teachers with respect to asset acquisition and financial investment such as property assets, vehicles, investments and insurances. The primary data were obtained through questionnaire surveys. Based on the analysis, the motive of residing was more dominant than renting for first property ownership. In the case of investment, it was found that the preferred investment period ranged from 5 to10 years with 18 percent of the teachers subscribing to life insurances and children education plans. The findings suggest that earning permanent and secured income gives the middle class real advantage for better financial planning.