Malaysian millennials save money but don’t invest, survey finds

Half of Malaysian millennials do not invest their money, says a survey.

PETALING JAYA: Nearly half of Malaysian millennials do not invest their money, a survey has found.

Luno, a company in the field of crypto asset exchange, said about 43% of the 910 respondents from Malaysia “do not invest at all”.

It said that around 31% of Malaysian millennials did not have an investment strategy, while 16% only invested once every one or two years.

The survey said about 54% of Malaysian millennials claim they need more information on how to invest their money.

“As a result, Malaysian millennials are still more busy saving than using the money they have for investment,” it said.

The survey also found that 90% of millennials prepare monthly budgets, with 70% of them following the plan.

“These findings indicate that Malaysian millennials are quite disciplined with their financial budget designs”.

Meanwhile, the survey also found that 54% of Malaysian millennials seek financial information through online applications and websites.

The survey, conducted between May and June, sampled around 7,000 respondents in Europe, Africa and Southeast Asia. - FMT