Here’s an interesting story, deadlined today (4 Apr 2008). that I’ve just seen on the Bernama website:
Providing For Family & Having Savings Is Financial Success For Many Malaysians
A good number of Malaysians define financial success as being able to provide for their family and having some savings for a rainy day.
In a survey conducted by global research company, Synovate, on the attitudes of Malaysians and their definition of financial success, more than a quarter of the 1,018 respondents (26 percent) said that financial success meant providing for their family and having savings.
Another 23 percent felt that it was about having enough money to pay for their food and housing each month while another 11 percent saw financial success as owning a home.
Synovate Malaysia’s managing director Steve Murphy said while Malaysians had different views of financial success and money, most of them (76 percent) regularly thought about money and how to get more of it.
In a statement Friday, detailing the findings of the survey which took in the responses of Malaysians aged from 15 to 64 with combined household incomes of between RM1,000 to RM15,000, he nevertheless said Malaysians were also clear about the differences between needs and wants.
Well over two thirds of the respondents (72 percent) agreed that success was about having what was needed and not necessarily what was desired, he said, adding that 58 percent of them felt that the time it took to become financially successful was not worth the time it took away from other more important things.
Meanwhile, to improve their chances of being financially successful, 63 percent of the surveyed Malaysians said they made their own financial and budget plans while 58 percent set their own financial goals.
More than half of the responsdents also believed that hard work and being in a well-paying job also improved their chances of financial success whereas some sought the advice of finance related and wealth building books.
“It’s clear that Malaysians have reached a level of financial maturity and self-reliance when it comes to improving their chances for financial success,” Murphy said.
“Malaysians also possess a pro-active attitude with 52 percent respondents believing that financial success was due to good management instead of good luck,” he added.