PETALING JAYA: Caught between ageing parents and growing children, many Malaysians in their late 30s and early 40s are discovering that peak earning years can also mean peak financial pressure.
For sales manager Mohd Faizal Rahman, 39, the pressure built up slowly.
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“At one point, I was paying for my housing loan, car loan, two children’s school expenses and my parents’ medical bills.
“My salary looked decent on paper, but by the end of the month, there was almost nothing left,” he said.
When his father required surgery three years ago, Faizal turned to a personal loan.
“It started with one personal loan for medical costs. Then I took another to pay off credit card debt. After that, it just snowballed,” he said, adding that rising living costs made it harder to recover.
“You feel ashamed because you’re supposed to be earning good money. But the commitments are at their peak too.”
Faizal said that the danger often lies in on-the-spot decisions made under pressure.
“I used to think bankruptcy only happened to people who were reckless. But sometimes it’s just a series of small decisions that pile up,” he said.
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Marketing executive S. Kavitha, 42, echoed similar concerns, describing how responsibilities on both ends of the family spectrum stretched her finances thin.
“My mother moved in with my family after my father passed away. Around that time, my eldest child also started secondary school and expenses went up,” she said.
During the pandemic, when household income dipped, she relied on credit cards to cover her daily expenses.
“I thought it was manageable because I was still employed. But interest accumulated quickly. Minimum payments gave a false sense of security,” she said.
Kavitha pointed to social expectations as an added burden.
“At this age, you’re expected to own a house, drive a decent car and provide a certain lifestyle for your children. Sometimes we stretch ourselves too thin trying to meet those expectations.”
For IT executive Adrian Tan, 37, the financial squeeze came from helping his younger siblings while caring for ageing parents.
“As the eldest, I felt responsible. I helped pay for my sister’s university fees while contributing to my parents’ monthly expenses,” he said.
Although he earns a stable income, Adrian admitted that multiple commitments left little room for savings.
“I wasn’t overspending on luxury items. It was mostly family obligations and fixed commitments.
“But when an emergency happens, like a medical bill or car maintenance, you end up using credit cards,” he said.
Adrian said easy access to personal financing can be tempting.
“The approvals are fast, and it feels like a quick solution. But you don’t realise how much it adds up until repayments start eating into your monthly cash flow,” he said.
