Minister Of Finance Sri Mulyani: Gen Z And Billionaires Must Be Smart In Managing Their Own Finances

Minister of Finance, Sri Mulyani Indrawati. (Photo: Instagram @smindrawati)

JAKARTA - Finance Minister Sri Mulyani appealed to Generation Z and millennials to understand how to maintain finances for the sake of Indonesia's progress considering that Indonesia can only progress if all parties care and maintain financial management.

"Indonesia can only progress if we all care and take care of how to manage your own state finances and finances," Sri Mulyani said during the Like It 2023 activity in Jakarta, quoted from Antara, Monday, August 14.

The State Treasurer underlined that currently the Z and millennial genes are the dominant generation in the composition of Indonesia's population. He mentioned that many regulators and investors came from both Z and millennials.

Therefore, the two groups are the main actors in various ways, including economic activity.

In understanding economic activity related to financial management, the Minister of Finance reminded the importance of understanding the trends of the times that take place. This is because changing times bring trends in different contexts.

Sri Mulyani gave an example, when she was young, she kept her finances manually, for example by keeping money in her respective cabinets.

Meanwhile, with the development of smartphone technology, saving money can be done on various digital financial services, both in the form of savings and investment.

With different instruments, continued the Minister of Finance, of course the financial management strategy will also be different. Regulations related to financial management will also change.

In that context, financial literacy is an important aspect. Gen Z and millennials need to learn and understand all things related to financial management.

"Literacy is something you can learn from and it's a lot of use to you planning your life," said the Minister of Finance.

In terms of the Ministry of Finance, Sri Mulyani said that she would continue to intensify collaboration and synergy with Bank Indonesia (BI), the Financial Services Authority (OJK), and the Deposit Insurance Corporation (LPS) to educate the public so that they could increase financial literacy for the better.