The saving trend among Malaysians currently is not very promising with only RM6 billion, or 0.9 percent of household savings recorded in 2014, based on the Social Accounting Matrix (MPS).

Department of Statistics chief statistician Mohd Uzir Mahidin, said nowadays, the younger generation were especially happy to spend whatever they can even before the income was earned, for example, to buy a new car or change smartphones through credit.

"This is opposed to how the older generations managed their financials where they delay their consumption to make way for savings," he told reporters at the launching of the MPS Launching and Briefing on Socioeconomic Statistics for Third Economy Quarter today.

The MPS provides important inputs for income and expenditure distributions in fiscal analysis.

- Bernama