Versa’s survey of 1,923 Gen Z Malaysians ranks their biggest financial frights this spooky season, and what they are doing about them
KUALA LUMPUR, Malaysia — 20 October 2026 — Forget ghost stories this spooky season: for Malaysian Gen Zs, the real horror show is checking their bank accounts after grocery shopping.
According to a survey of 1,923 young Malaysians by digital wealth platform Versa, the number one financial nightmare isn’t student debt or credit cards, it is the soaring cost of living. Nearly half (47%) cited inflation and daily expenses as their single biggest financial fear, compared to just 4% who worried most about PTPTN and debt repayments.
Far from being paralyzed by fear or giving in to “doom spending,” young Malaysians are aggressively fighting back: 77% save at least 10% of their monthly income, and those most worried about owning a home or job security are among the biggest savers.
AT A GLANCE
- 47% of Gen Z respondents pick “high cost of living / inflation” as their biggest financial fear. Only 4% pick “PTPTN / debt repayments”.
- 48% of those whose biggest fear is not having enough emergency cash name an emergency fund as their main saving goal, compared with 30% of all Gen Z respondents.
- 48% of those whose biggest fear is never being able to buy a house save more than 20% of their income, compared with 38% of all Gen Z respondents.
- 51% of those whose biggest fear is job insecurity or a low starting salary save more than 20% of their income.
- 91% of Gen Z respondents have thought about retirement, and 51% already save extra for it beyond statutory EPF.
Malaysia’s Gen Z Financial Frights, Ranked
- The Rising Cost of Everything (47%): Skyrocketing cost of living and inflation topped the list as the ultimate dread, more than twice the next biggest fear.
- The “Zero in Bank” Emergency (20%): The fear of sudden medical bills, car breakdowns, or unexpected emergencies with too little cash to fall back on.
- The Low Starting Pay Trap (14%): Stagnant wages, entry-level salaries under pressure, and job market instability.
- The “Forever Renting” Reality (13%): The creeping fear of being permanently priced out of owning a home.
- PTPTN & Debt Repayments (4%): Looming at the very bottom, suggesting that daily living expenses worry youth far more than long-term formal debt.
Slaying the Monsters
The survey also asked what people are doing about their fears, and the biggest fears line up with action.
Among those most afraid of having no emergency cash, 48% make an emergency fund their main saving goal.
Those most afraid of never owning a house, or of job insecurity and a low starting salary, are putting plenty aside. Around half of each group save more than 20% of their income.
The Far-Off Monster: Retirement
Retirement might feel distant for twenty-somethings, but 91% say it’s already on their minds. More than half (51%) are already setting aside additional retirement funds on top of mandatory EPF, with another 24% planning to start soon.
When asked what would make them take retirement planning seriously, 61% point back to the same villain: watching inflation eat away at the value of cash, while 47% say realizing statutory EPF payouts alone won’t be enough.
Quote
“Halloween is a good moment to point out that the scariest thing about money is often not knowing where you stand. What we see in this survey is a generation that isn’t frozen by its fears. The people most worried about a house or job security are the ones saving harder, and seven in ten save a fixed amount every month. Facing a worry with a regular habit is how it stops feeling like a monster,” said Teoh Wei Xiang, CEO and Co-Founder of Versa.
Methodology
Findings are drawn from Versa’s “Spill the Tea on Your Financial Habits” survey, which polled 1,964 users in Malaysia via the Versa app between 8 and 19 October 2026. This release covers the 1,923 respondents aged 18 to 29 (born 1997 to 2008, with age confirmed from date of birth on file). They include experienced employees (41%), fresh graduates and entry-level employees (28%), students (22%), freelancers, gig workers and content creators (5%) and people looking for work (4%). The fear question asked respondents to pick the one financial anxiety that applies most to them; the groups quoted are those who picked “not having enough emergency cash” (n=384), “job insecurity or low starting salary” (n=277) and “inability to buy a house in the future” (n=255). The comparisons describe links between a fear and a behaviour and do not show that one causes the other. Questions on how respondents save for retirement and what would make them take retirement planning seriously allowed multiple answers, so those percentages do not sum to 100%. Respondents are Versa app users and may not be representative of all Malaysians. Figures are self-reported and percentages are rounded.
About Versa
Versa is a homegrown fintech company regulated by the Securities Commission Malaysia. Launched in 2021, it has surpassed 400,000 users and RM2.5 billion in transactions, offering investment tools via a single app in partnership with AHAM Asset Management Berhad. In August 2025, Versa made Forbes Asia’s fifth annual “100 to Watch” list, a ranking that highlights the most promising small companies and startups in the Asia-Pacific. Learn more at [https://versa.com.my/].
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| Media Contact: Adelle Chong Branding & Marketing Senior Executive [email protected] www.versa.com.my | Media Contact: Loo Liru Marketing Manager [email protected] www.versa.com.my |