Bagaimana Survive Keuangan Mahasiswa? | Prita Ghozie

Summary

In this video, financial consultant Frita Gozi shares valuable tips on managing finances for young people, especially students. She discusses common financial challenges faced by today's generation, such as overspending and the impact of social media on lifestyle choices. Frita emphasizes the importance of budgeting, saving, and investing, while warning about the dangers of online loans and pay-later services. With practical advice, she encourages young people to live within their means, build emergency funds, and develop self-control over their spending. The session aims to help the younger generation achieve financial independence and make informed financial decisions.

Takeaways

• 😀 Gen Z students and young adults often struggle with managing finances, especially when distinguishing between needs and wants.
• 😀 Many students face financial difficulties, leading to the phenomenon of running out of money before the end of the month, often turning to loans or credit options.
• 😀 The desire to 'flex' or show off material possessions on social media can lead to spending beyond one's financial capacity.
• 😀 Insecurity, fueled by social media pressures, often causes young adults to overspend to appear successful or achieve societal approval.
• 😀 The danger of overspending and 'flexing' is that it leads to a lifestyle beyond one's means, resulting in debt and reliance on online loans or pay-later services.
• 😀 Students should track their expenses carefully to understand their financial situation and identify areas for improvement.
• 😀 Creating a budget is essential for students to allocate funds for essential needs, savings, and discretionary spending.
• 😀 The three primary expense categories to track are living expenses (e.g., rent, food), saving (e.g., emergency fund, investments), and playing (e.g., non-essential purchases).
• 😀 To avoid financial issues, students must live within their means, prioritize savings, and limit discretionary spending unless they have saved for it.
• 😀 Developing financial discipline, like delaying gratification, is key to avoiding financial stress and building a sustainable financial future.

Q & A

What are some common financial struggles faced by students today?

Students often struggle with managing their monthly expenses, resulting in running out of money before the month ends. They also face difficulties distinguishing between needs and wants, which leads to overspending. Social pressures, like FOMO (Fear of Missing Out), and the desire to 'flex' on social media, can contribute to excessive spending and the accumulation of debt.

How does the desire to 'flex' affect students' finances?

The desire to show off possessions (flexing) often leads students to live beyond their financial means. They may buy things they can't afford or use credit to appear successful, leading to financial strain. The danger is that it encourages a high lifestyle without the financial stability to support it.

What is the role of FOMO in financial decision-making for young people?

FOMO can drive young people to make financial decisions based on what others have or are doing. It leads to impulse purchases and the desire to keep up with peers, even if it means overspending or borrowing money. This can result in financial instability and debt.

Why is it important for students to track their expenses?

Tracking expenses helps students understand where their money is going, making it easier to manage their finances. By categorizing spending into essentials (living), savings, and discretionary spending (playing), students can better control their budget and avoid unnecessary debt.

What are the three main categories of expenses students should track?

Students should track their expenses under three categories: 1) **Living** for essential costs like rent, food, and transportation; 2) **Saving** for future goals and emergencies; 3) **Playing** for discretionary spending on wants like gadgets or entertainment.

How can students create a balanced budget?

A balanced budget can be created by dividing income into three main portions: 50% for living expenses, 20% for discretionary spending, and 30% for savings and investments. This structure helps ensure that essentials are covered, while also promoting savings and responsible spending.

What is the risk of not following a budget for students?

If students don’t follow a budget, they may end up overspending and falling into debt, especially through online loans (pinjol) or pay-later services. This can lead to financial stress and difficulties in meeting basic needs or achieving long-term financial goals.

How can students avoid falling into debt traps like online loans and pay-later services?

Students can avoid debt traps by sticking to a strict budget, tracking their expenses, and saving for emergencies. Having a clear financial plan helps prevent the temptation to borrow money unnecessarily. Additionally, building an emergency fund can provide a buffer for unexpected expenses.

What is 'delaying gratification,' and why is it important for financial success?

Delaying gratification refers to the ability to resist the urge to indulge in immediate pleasures in favor of long-term benefits. This concept, demonstrated in the Stanford marshmallow experiment, is crucial for financial success, as it helps individuals avoid impulsive spending and focus on saving and investing for the future.

What financial habits should students adopt to improve their financial health?

Students should adopt the habit of tracking their expenses, creating and sticking to a budget, living within their means, and saving for both emergencies and future goals. Additionally, they should consider supplementing their income through side jobs or freelance work and start investing early, even with small amounts.