Feb 15, 2018 – The parents of students of SDN Ragunan 12 South Jakarta had the opportunity to participate in the Citi Parenting Talkshow entitled “Financially Smart since Early Years” held by Citi Indonesia through its umbrella theme for community activities – Citi Peka (Peduli dan Berkarya or caring and creating something meaningful), together with Prestasi Junior Indonesia on Thursday, February 15th, 2018. Parents were invited to realize the importance of introducing and teaching children how to manage finances.
The 2017 National Financial Literacy Survey, conducted by the Otoritas Jasa Keuangan (Financial Services Authority) on Indonesia’s financial literacy condition, shows that only 29 out of every 100 Indonesians have adequate knowledge of finance and banking. Therefore, all parties need to play an active role to support the realization of increasing understanding of society in optimizing money for productive activities and in using various banking products and services.
“Children should be given the understanding that parents need to work or do business to earn money to meet their needs. When earning allowance, they must set aside money in advance to save, spend, and donate to the people in need. We are thankful and appreciate the partnership with Citi Indonesia and Citi Foundation in building a sound understanding of finance. In the future, we hope that the children will have a complete picture and knowledge about the financial benefits, so that they can become a generation that can move Indonesia’s financial industry forward,” said Mr. Robert Gardiner, Management Advisor of Prestasi Junior Indonesia.
The educational program of ‘Digital Financial Literacy for Children’ is also influenced by the prevalence of gadgets in the children’s world. The young spend quite a lot of time each day using smartphones. Thus, an understanding of financial management can be integrated as an application (or otherwise) in the gadgets used by children.
During this talkshow, Child, Adolescent, and Family Psychologist Mrs. Roslina Verauli, M.Psi., was present as a resource person who shared information to parents about tips to shape the mindset and behavior of children that is not consumptive. “Parents must distinguish ‘Allowance’ and ‘Pocket Money’ when providing money to children. These words are capable of influencing the perception of children. Parents can use the word ‘allowance’ when giving money to children before going to school. This word has the connotation of ‘to be used and spent’. However, the word ‘pocket money’ means the money should be stored in a pocket with the potential that it would be set aside for savings. Using these words in the appropriate context will shape positive habits in children, encouraging them to use their money in a responsible manner,” said Verauli.
“Citi Indonesia and its partners will continue to work on various social programs, especially to support government policy on improving understanding for the young generation in the areas of financial inclusion and financial literacy,” Vera concluded.