Date: 13 Jun 2023
EPF Launches Belanjawanku Guide 2022/2023 And Belanjawanku Mobile Application

KWASA DAMANSARA, 13 June 2023: The Employees Provident Fund (EPF) in collaboration with the Social Wellbeing Research Centre of Universiti Malaya (SWRC), launches the Belanjawanku Expenditure Guide for Malaysian Individuals and Families 2022/2023; and Belanjawanku Mobile Application, to provide estimations of minimum monthly expenditures on various types of goods and services for different households.


Minister of Economy Yang Berhormat Rafizi Ramli launched the Belanjawanku booklet and application at a ceremony in Menara KWSP in Kwasa Damansara today in the presence of EPF Chairman Tan Sri Ahmad Badri Mohd Zahir, EPF Chief Executive Officer Datuk Seri Amir Hamzah Azizan, members of the EPF Board, senior management and EPF staff.


First introduced in 2019 for Klang Valley residents, the Belanjawanku Guide has been expanded to cover another 11 major cities across the country. The guide details out minimum expenses by household category (single, family or seniors) and provides recommendations on expenses allocation for necessities, optional spendings, and personal savings.


The EPF’s inhouse team had also developed the Belanjawanku App for mobile devices and uploaded on all app stores in August 2022. The app contains interactive features for users to track their expenses online. App users can opt to use the Belanjawanku Guide or the “Rule of Thumb” 1to monitor monthly expenses. As at May 2023, the Belanjawanku App has recorded almost 12,000 downloads.


EPF Chairman Tan Sri Ahmad Badri Mohd Zahir said, “According to the National Financial Literacy Strategy 2019-2023, developed by the Financial Education Network (FEN), of which the EPF is a member, a total of 76% of Malaysians have a budget, but not all adhere to the budget. The data also shows that 47%2 find it difficult to set aside RM1,000 for emergency use.


“These data suggest the need for Malaysians to improve financial literacy as one of the prerequisites to strengthen their financial and future retirement wellbeing. Hence, we develop the Belanjawanku Guide so Malaysians can become more savvy in managing their finances.”


The Belanjawanku Guide has been adopted by EPF’s Retirement Advisory Service (RAS) officers in providing members financial guidance and advice, forming the bedrock of strong financial wellbeing and better quality of life in the long term.


A special briefing by Director of SWRC Professor Datuk Dr Norma Mansor was also conducted during the event where she explained the detailed research that went into the development of Belanjawanku Guide. She also cited several issues, such as low financial literacy and rising cost of living as central to Malaysians having low savings, over-indebtedness and youth bankruptcy.


“This is where Belanjawanku comes into the picture as it serves as a guide for individual’s financial planning and debt management, in addition to recommending the amount of savings for future use and in unprcedented events,” said Prof. Datuk Dr Norma, adding that policymakers can also use Belanjawanku as an indicator or benchmark in addressing the issues of cost of living, purchasing power parity, and poverty alleviation to ensure social inclusion among Malaysians.


The Belanjawanku project was commissioned by the EPF as part of its financial literacy programme, and the detailed research was done by the team at SWRC. The research involved a survey and focus group discussions comprising of researchers from local universities, representatives from the EPF, Credit Counselling and Debt Management Agency (AKPK), Economic Planning Unit, the National Wage Council, NGOs, Bank Negara Malaysia, and experts from industries.


The Belanjawanku booklet can be downloaded for free from EPF website at The Belanjawanku App can also  be downloaded for free from Apple App Store, Google Play, and Huawei App Gallery.


Issued by the EPF Media Desk 
Corporate Affairs Department
13 June 2023

1. Guideline for allocating budget according to the 45/35/20 rule i.e. 45% to necessities, 35% to commitments and 20% to savings.

2. The Financial Capability and Inclusion Demand Side Survey 2021, Bank Negara Malaysia.

About the Employees Provident Fund (EPF)

The Employees Provident Fund® (“EPF®”) is one of the oldest retirement funds in the world. Established in 1951, the EPF® is a social-security organisation focused on safeguarding member savings and delivering excellent services. In recent years, in line with its vision of helping members achieve a better future, the EPF® has expanded its role to encompass the creation of a comprehensive social well-being ecosystem. Today, the EPF® remains steadfast in its commitment to members through consistent efforts to update and improve itself, in order to build the foundation for sustainable, holistic and equitable well-being for all Malaysians.