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| Illustration (Photo: Haqi PR UMM) |
Based on research results from OCBC NISP and NielsenIQ in 2021, it was explained that the younger generation's Fitness Financial Index at 85.6% looked "unhealthy" financially. Only 14.3% of young people in Indonesia are trying to achieve financial "health." The report shows that the financial planning of young people in Indonesia is still lacking and needs to be improved.
Novi Puji Lestari, SE., MM., a Management Department Lecturer, said that the phenomenon was quite difficult to contain. Moreover, the habits of today's young people who want everything to be served because of the support of technology. For him, prestige is a top priority for young people today.
"For example, just to buy tea, you have to go to the mall to look prestigious. However, the costs are more than the benefits. Always prioritize wants, not needs, so this causes poor financial planning," she said.
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Novi, her nickname, also gave solutions and behaviors that young people need to avoid. One of them is to stay away from expenses that are not a top priority. In addition, always put forward and strive for what is a priority. According to her, young people can also divide finances into three parts: living, saving, and playing.
The results of a survey from the Alvara Research Center in 2020 entitled "Indonesia gen Z and Millennial Report 2020: The Battle of Our Generation" found the fact that the spending allocation of Generation Z for saving and investing was only 9.2%. Meanwhile, routine needs expenditure is 59.9%. The millennial generation is 10.5% for saving and investing and 57.3% for spending on everyday needs. Meanwhile, Novi offers the best solution for managing finances, namely 30% saving, 50% living, and 20% playing.
For him, managing finances from an early age are very important so that later when they have income, they are not confused anymore. Understanding finances from an early age also allows young people to be trained in the future so that it is not difficult to do it when they grow up.
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"The short-term benefit is that we have savings and can invest at a young age. In the long term, we can prepare ourselves for family life in the future. Especially considering that the economy is an important factor for family unity," said the secretary of the management study program.
Furthermore, another strategy that can be done is to use the theory of income = consumption and saving. So, no matter how high the income is, the needs will follow. According to her, the best solution is to determine saving initially. Even though it's not too big, if you try to do it regularly every month and don't take it unless it's urgent, young people will get used to saving.
Lastly, Novi always believes that there are many ways that young people can do to turn something into money, as long as they can commit. For example, it opens a food service business or typical souvenirs from the region. Even though it's trivial, if he accumulates the benefits, he feels it's pretty big, especially if you can use a cellphone to support this business.
"If you have a business, never mix your business money with your money. If you have a business, your salary as an employee instead of the entire turnover is considered profit. Don't give up if you ever fail in a business, and lastly, don't forget to give alms because, in every sustenance, there must be other people's rights in it," he concluded. (cdr/ros/wil)
