Cabinet Secretariat Holds Seminar on Financial Literacy

The participants of Financial Literacy Seminar at Building III Hall, Ministry of State Secretariat, Jakarta, Wednesday (19/2). (Photo by: PR/Ibrahim).

In a bid to provide financial literacy to all staff, Cabinet Secretariat holds a seminar with a theme “Financial Literacy: Finance amidst Today’s Consumerism,” at Building III Hall, Ministry of State Secretariat, Jakarta, Wednesday (19/2).

“We need to better manage our finance so that we can be more prosperous in the future,” Head of Human Resources, Organization, and Governance Bureau of Cabinet Secretariat Ratih Mayangsari said.

According to Ratih, participants of the seminar are expected to be able to manage personal finance by setting aside their income at a productive age in order to be more financially secure at non-productive age.

She also called on the participants to value “needs” over “wants”.

“We are often trapped in managing our finances when we value our wants over our needs. This will lead us to financial difficulties,” Ratih said, adding that employees’ disciplinary issues can be triggered by financial problems.

“The study shows that there are 46 percent of non-productive workers due to their financial problems,” Ratih added.

Based on generation classification, she added, only 20 percent of Baby Boomers generation, who were born in the 60s to 70s, have financial problems.

“However, 45 percent of Gen X, who were born in the 70s to 80s, and 35 percent of Gen Y, who are mostly millennial generation, have financial problems ” Ratih added.

Ratih further said that workers should be alert to various issues regarding investment and deposits that offer kinds of lures. “Cabinet Secretariat does not expect our staff to have a low financial literacy, considering that the people’s financial literacy in Indonesia is still below 50 percent,” Ratih said.

For that reason, Cabinet Secretariat holds a financial seminar that aims to provide all staff financial literacy which can improve their productivity.

If the level of financial literacy in the community is high, she added, the community will be more aware of financial products and services offered by formal financial institutions.

“Financial transactions will increase economic growth and create income distribution. The increasing number of people who make saving and investment will provide more sources for development funding,” she said.

At the end of her remarks, Ratih expressed hope that all participants will be able to practice the knowledge acquired fromrm the seminar and achieve a better future. “We can all be happy in our old age and we will not be afraid of the old age,” she said. (TGH / EN)

Translated by: Syarifah Aisyah
Reviewed by: Ridwan Ibadurrohman
Proofread by: M. Ersan Pamungkas