KIC: Most Gen Z and Y Admit Monthly Expenses Exceed Income
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According to a survey by the Katadata Insight Center (KIC), the majority of respondents (53.5%) stated that their monthly expenses over the past year exceeded their income.
Meanwhile, only 22.9% stated that their expenses were less than their income, and 23.6% stated that their expenses were equal to their income.
By age group, more than half of Gen Z and Gen X respondents reported expenses exceeding their income, at 59.4% and 57.2%, respectively.
Furthermore, 74.4% of respondents stated that spending on communication, such as mobile phone credit and internet, was their largest expense. This was followed by spending on groceries (69.9%) and fuel (52.9%).
The Zigi & KIC survey on the financial behavior of Gen Z and Gen Y was conducted online with 5,204 respondents across 34 provinces. The survey was conducted from September 6-12, 2021, with the respondent breakdown as follows: 55% Gen Y, 32.5% Gen Z, 12% Gen X, and 0.5% Baby Boomers.
(Read More: Reasons Why West Java Residents Distrust the COVID-19 Vaccine)
"Disclosure: This is an AI-generated translation of the original article. We strive for accuracy, but please note that automated translations may contain errors or slight inconsistencies."
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