Krisis 2024: Mengapa Banyak Kelas Menengah Turun Kasta Jadi Miskin?

Summary

The video discusses the financial struggles of Indonesia's middle class, highlighting increasing living costs and rising taxes. Many middle-class individuals are losing their financial stability, with savings decreasing significantly since 2019. While the wealthy are benefiting, the middle class is shrinking. The speaker provides advice on financial management, including building emergency funds, using credit cards wisely, and investing in assets like gold, stocks, and crypto. Additionally, the video emphasizes the importance of using reliable financial platforms like Neobank for saving and earning rewards, encouraging viewers to improve their financial strategies in these challenging times.

Takeaways

• 📉 The middle class in Indonesia is shrinking due to rising living costs and increasing portions of spending, especially on taxes and fees.
• 💸 Savings of people with balances below 100 million IDR have declined, while wealthier individuals have seen their savings increase.
• 📊 According to data from the Central Bureau of Statistics (BPS), the middle class has decreased from 52 million people in 2019 to 47 million in recent years.
• 😷 The COVID-19 pandemic led many people to deplete their savings, and now, in 2023 and 2024, those savings are significantly reduced or even gone.
• 📈 The upper-middle class, with earnings above 10 million IDR per month, is benefiting from credit card rewards and travel promotions in 2023, while the lower-middle class struggles.
• 💳 For those earning 10 million IDR or more, using credit cards wisely (paying off full balances) can help build a good credit score without incurring debt.
• 🛡️ Emergency funds are critical, with a recommended amount of at least 3 months of expenses, ideally up to 12 months, stored in a separate, liquid account.
• 🏦 The Neobank 'Tabungan Now' savings account offers a 4.25% interest rate, with promotions for new users to earn rewards and experience bonuses.
• 💰 For wealth-building, investments in gold, stocks, and crypto are recommended, but deposits like Neobank's offer an 8% interest rate and are considered safer for now.
• 💡 Financial literacy is essential in today's economy, and there are many resources available, such as AI tools and online platforms like YouTube, to help people learn and manage their finances effectively.

Q & A

What are the main reasons for the decline of the middle class in Indonesia according to the transcript?

The main reasons for the decline of the middle class in Indonesia are the rising costs of living and increased expenses, especially for taxes and fees, which are not matched by income growth. This has led to people dipping into their savings, which have been significantly depleted since the pandemic.

How has the savings behavior of Indonesians changed from 2019 to 2024?

According to the data, the savings of Indonesians with balances below IDR 100 million have decreased, while wealthier individuals with savings above IDR 5 billion have seen an increase. Many in the middle class have used up their savings to cover living expenses.

What does the term 'expiring middle class' refer to?

The term 'expiring middle class' refers to individuals who were once part of the middle class but are now at risk of falling into poverty. Despite their previous stability, their economic situation has become precarious due to increasing living costs and dwindling savings.

How did the COVID-19 pandemic affect the financial situation of the middle class?

During the COVID-19 pandemic, people saved more as they were not spending on activities like going to the movies or concerts. However, by 2023-2024, many people's savings, which were once in the hundreds of millions, have reduced to tens of millions or even zero, leading to a sharp financial decline.

What financial advice is given for individuals with incomes above 10 million IDR per month?

The transcript suggests that individuals with incomes above 10 million IDR should consider applying for a credit card, not for borrowing but to improve their credit score and take advantage of rewards and points. Proper use of credit, such as paying off balances in full every month, can help build a good credit score.

What is the recommendation for people with lower incomes regarding credit cards?

For people with incomes below 10 million IDR, it is advised not to apply for a credit card but instead focus on building an emergency fund. Having 3-12 months’ worth of expenses saved is essential to deal with unforeseen circumstances.

What is an emergency fund, and how much should someone aim to save?

An emergency fund is money set aside for unexpected events. It is recommended to save at least 3 months’ worth of expenses for individuals, but aiming for 12 months of savings provides greater financial security.

Where is it suggested to store an emergency fund, and why?

It is suggested to store an emergency fund in a separate, liquid account, such as a regular savings account or a deposit account like NeoBank’s ‘Tabungan Now.’ This ensures that the funds are easily accessible and earn interest while being insured by the LPS.

What investment options are recommended for individuals after building an emergency fund?

After building an emergency fund, the recommended investment options include gold, cryptocurrency, and stocks. Gold has shown an average annual increase of 9%, cryptocurrency like Bitcoin is still seen as having potential for growth, and certain stocks have seen significant increases in value.

Why is NeoBank recommended in the transcript, and what benefits does it offer?

NeoBank is recommended for its competitive interest rates, including a 4.25% annual interest on savings and up to 8% on deposits. It offers flexibility with deposit terms starting from 7 days, and promotions like cash rewards and experience coupons for new users.