OJK: The Pandemic Makes People Aware Of The Importance Of Preparing Finances To Survive The Crisis

Illustration. (Photo: Doc. Antara)

JAKARTA - Head of the Financial Services Authority (OJK) of Central Sulawesi Province (Sulteng) Gamal Abdul Kahar stated that the COVID-19 pandemic has made all levels of society aware of the importance of financial preparation when facing a crisis.

Saving early and investing are a number of ways to prepare finances that residents of Central Sulawesi Province can do to anticipate the impact of the COVID-19 pandemic which has resulted in many people losing their jobs and decreasing turnover in various business sectors.

"Saving and investing can protect the value of money from inflation so that our purchasing power will remain sustainable in the future," he said in a webinar about financial instruments and financial regulation from an early age in commemoration of the Indonesian Savings Day which was held by the Central Sulawesi OJK virtually in Palu City, quoted by the Jakarta Post. from Antara, Wednesday 25 August.

In addition, he continued, the emergency fund that was set aside during normal conditions would become a bulwark in times of emergency.

"Instilling a culture of saving from an early age can provide many benefits, including educating children to learn discipline, forming a mindset to value money more and avoiding consumptive behavior," he said.

Then Gamal explained that saving can also provide a better understanding of financial management so that later the younger generation in Central Sulawesi can maximize the potential of their assets to improve their welfare.

As a form of support for the target of financial inclusion and the implementation of the Indonesia Savings Day, OJK Central Sulawesi initiated the One Account One Student (Kejar) program.

"On this occasion we also held an account opening for as many as 330 students throughout Central Sulawesi which is expected to increase public awareness, especially the student segment, the banking industry and local governments to instill a culture of saving from an early age," he said.