Table of Contents
Survey finds dual caregiving pressures impact finances, health, long-term planning
Malaysian women are taking on greater financial responsibility at home, but many say the growing burden of caring for children and ageing parents is affecting their careers, health and long-term financial security.
A recent study by Sun Life Malaysia, titled Women’s Wealth in Focus, found more than 60% of women say dual caregiving responsibilities are taking a toll on their careers and ability to prioritise self-care.
The findings point to what researchers describe as a “triple penalty”, where caregiving impacts financial stability, personal wellbeing and career progression. Across the survey, 80% of respondents say caregiving responsibilities limit their ability to improve financial security.
At the same time, 68% report reduced time for self-care, while 66% say their careers are affected, highlighting immediate and long-term consequences.
Women take charge of finances
Despite these pressures, women are increasingly leading household financial decisions. More than half say they have the final say on major financial matters, while many take sole responsibility for managing daily expenses and long-term planning.
This role often comes with personal trade-offs. Many respondents say they cut back on leisure and travel spending, delay retirement savings or reduce investment opportunities in order to meet caregiving needs. For some, the sacrifices extend further, with six in 10 reporting they have foregone medical treatment to prioritise their families.
Family responsibility remains a key driver. A majority say they feel a strong obligation to support loved ones, with many willing to compromise their own financial security to ensure their family’s wellbeing.
Growing pressure from ageing population
The expectation to care for ageing parents adds another layer of financial strain. About 90% of women surveyed anticipate supporting their parents financially, yet only 19% are currently setting aside at least 10% of their income for this purpose.
This gap highlights a broader challenge in long-term planning, particularly as Malaysia’s population continues to age. While many women manage day-to-day finances effectively, fewer are consistently preparing for future financial needs.
Healthcare costs are key concern
Healthcare continues to be one of the biggest barriers to financial stability. Six in 10 respondents identify rising medical costs as a major challenge, a concern that has remained consistent in recent years.
Caregiving responsibilities can also create hidden health risks. Many women delay or avoid seeking medical care for themselves, prioritising the needs of children or elderly family members instead.
This pattern raises concerns about long-term wellbeing, especially when combined with financial strain.
Limited access to financial advice
Despite managing significant financial responsibilities, relatively few women seek professional guidance. Only a small percentage currently work with financial advisors, while others rely on self-research or informal advice. Perceptions of the financial industry may play a role, with many viewing it as male-dominated.
At the same time, there is clear demand for more accessible support, particularly in areas such as retirement planning and long-term financial security.
The findings point to a growing need for stronger support systems, in caregiving and financial planning. As more women balance multiple roles at home and work, addressing these gaps will be key to improving financial resilience and overall wellbeing.
READ MORE:
Marriage on hold as Gen Z prioritises financial stability amid rising living costs
Hippotherapy: Autism therapy on horseback
How couples met: Love stories across generations in Malaysia
