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| A socialisation agenda by the FEB of UMM discussing financial planning. (Photo by Zaki PR of UMM) |
According to the National Literacy Survey and Financial Inclusion in 2019, the financial literacy index in Indonesia was 38,03%, and the financial inclusion index was 76,19%. From the survey, it can be inferred that the financial literacy rate in Indonesia is still low. On the other hand, based on the Financial Services Authority of Indonesia, most millennials are financially vulnerable because the saved income is only 10,7%; meanwhile, the spent income for monthly needs is 51,1%. The idea was delivered by the Vice Dean 1 of the Faculty of Economics and Business of UMM, Dr Widayat, M. M., in the “Socialisation of Financial Planning” agenda on Saturday, 24 December 2022.
Discussing the theme, “Financial Planning to Achieve Happiness,” this socialisation was attended by the students in batch 2022. Regarding its purpose, this event aims to equip students to do financial planning and management professionally. Widayat asserted that financial planning is a process of achieving someone’s financial objectives through integrated and planned financial management.
“Financial planning is necessary to prepare for unexpected conditions of the use of funds in the future so that future life can be better and safer financially, which automatically makes life quieter and healthier and prepares higher upcoming needs.”, uttered Widayat.
Further explaining, Widayat mentioned six principles in financial planning. The first one is to understand the income measure. The second is to save some money for saving matters. Thirdly, we can invest our money in the future. Next, we must be wise in proposing and using a money loan. The fifth one is to do self-protection for emergencies and old age. Lastly, the most important one is not to shop impulsively.
In line with Widayat’s statement, the President Director of BPRS Artha Sinar Sejahtera Syariah, Aep Saepudin, S. E., M. Sy., expressed that financial planning does not create wealth; however, it is how desired financial planning or objective can be fulfilled with owned resources.
“Because something planned is usually organised and structured. With objective financial planning, it will be easier for someone to assure his/her future. Saving is one of the things in financial planning. Indirectly, we engage ourselves in the country’s program to increase the living standard of society generally”, said Aep.
Interestingly, the participants felt enthusiastic about the event. Those who actively participated were appreciated and rewarded with a balance. Also, the active participants created a bank account in Tabungan Sinar of IB from BPRS Artha Sinar Sejahtera of UMM. In total, six participants felt lucky and were considered active. (imh/zak/wil)
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