PETALING JAYA: More Malaysians are seeking financial help amid cost-of-living pressures, with over 100,000 turning to the Agensi Kaunseling dan Pengurusan Kredit (AKPK) in the first eight months of 2026, up 15% year-on-year.
"The increase may indicate a greater willingness to seek guidance on financial commitments and overall financial well-being,” AKPK said.
The agency, which offers credit counselling and debt management services, said more than 47,000 individuals were approved for its Debt Management Programme (DMP) between January and August this year, highlighting the continued need for structured assistance to manage debt commitments.
AKPK’s data compiled since the agency was set up in April 2006 shows that 40% of the individuals have received assistance under the DMP due to the high cost of living, followed by unexpected financial commitments at 12%.
"Financial pressures are often multifaceted. Alongside challenges in managing debt and monthly repayments, higher living expenses and unexpected financial commitments can put additional strain on household cash flow.
"These figures suggest that financial strain can arise from a combination of day-to-day expenses and unforeseen costs that make existing obligations harder to manage," it said.
While financial challenges can affect people at different stages of life, AKPK’s data shows that those in their 30s and 40s account for the largest shares of approved DMP cases.
For this age group, financial responsibilities may converge, from housing and household expenses to raising children and, for some, supporting ageing parents.
“This can create a ‘sandwich generation’ effect, with people balancing the needs of younger and older family members alongside their own commitments,” AKPK said.
Its data shows that individuals aged 30 to 39 account for 41% of approved DMP cases, followed by those aged 40 to 49 at 30%.
By income group, 23% earn between RM2,000 and RM3,000, while 19% earn between RM3,000 and RM4,000.
Meanwhile, AKPK said growing access to credit is adding another dimension to household financial commitments.
In a parliamentary reply on Oct 19, Prime Minister Datuk Seri Anwar Ibrahim said active Buy Now Pay Later (BNPL) account holders had increased by 22.7% to 9.2 million as at June 30, with outstanding financing totalling RM6.6bil.
AKPK said while BNPL can offer payment flexibility, consumers need to consider all their commitments together and assess whether they can meet them within their financial capacity.
"The key is to maintain a clear picture of total obligations and avoid placing undue pressure on monthly cash flow.
"Ultimately, financial vulnerability has no single age or income profile. What matters is whether a person’s financial commitments remain manageable as their circumstances and responsibilities change," AKPK said.
AKPK noted that financial difficulties rarely emerge overnight.
“Warning signs may include relying increasingly on credit to pay for everyday necessities, consistently paying only the minimum amount due, borrowing to repay existing debts, having little or no emergency savings, or finding that monthly commitments are affecting essential household expenses.
“The important thing is not to wait until repayments are missed or the situation becomes unmanageable.
"Seeking financial guidance should not be viewed solely as a response to financial difficulty.
"It is also a practical step towards making informed, responsible decisions throughout one’s financial journey," it said.
Beyond debt management, AKPK said it supports Malaysians through financial education, programmes, modules and publications that help them make informed decisions and strengthen their financial resilience.
