Study: Indonesian Society's Financial Security is Quite Low

OCBC NISP Bank recently released its Financial Fitness Index report. The results show that Indonesia's financial fitness index rose 2.34 points to 40.06 in 2022. Although it increased, this figure is still not ideal.

Indonesia's financial security remains quite low, scoring 41.02. Financial security refers to an individual's ability to prepare their finances for unforeseen circumstances without sacrificing basic needs.

The study found that only 46% of respondents regularly save at least 20% of their income. Furthermore, only 40% can meet the financial needs of their children and parents within the next year.

Only 41% have sufficient emergency funds (6 months' income) in case of a crisis and enough funds to survive if they lose their job.

The study also found that only 39% can afford medical treatment without disrupting their financial plans, and 40% have sufficient funds to meet their family's needs for 12 months in the event of their death.

This study involved 1,335 respondents aged 25-35 with a minimum monthly income of Rp5 million. The survey has a margin of error of 2.8% with a confidence level above 95%.