Jakarta, CNBC Indonesia – A survey from American Express in Uncle Sam's country stated that the resolution of Millennial and Generation Z in 2024 is to realize their financial goals. Is this the same as your dream?
The survey was conducted on 1,800 respondents born in 1981 and 2012. The survey results showed that 57% of respondents named personal “financial planning” as the most important resolution for 2024, followed by health, and finally mental health.
“Financial health is a big part of mental health. Being financially strong doesn't mean you have nothing to support your current lifestyle. It means you become more aware of how you spend your money and cash flow,” says financial planner, Sue Gardiner, as quoted by CNBC Make It.
In essence, Millennials and Gen Z in the United States already have quite specific financial goals for this year. And if you look in detail, these are the three biggest financial goals of Gen Z and millennials in the United States.
Increase savings
Approximately 60% of respondents in the survey said that increasing the value of savings was the financial goal that should be prioritized. Gardiner recommends that you all use the auto-debit method for this one.
Not only that, it is also important to put your funds into savings with high interest. And this savings account can help your savings grow every year.
Pay debts
The second priority that according to respondents is important to do is pay off debt. As many as 40% of respondents admitted this.
If we look at the case of United States citizens, the debt they face is generally credit card debt.
There are still many strategies that can be applied to pay off debt. If in Indonesia, you can reduce the principal debt via the partial repayment method, or if the case is a credit card, then you can also pay off one or more transactions by paying the fine.
Be disciplined about spending
According to respondents, the success of realizing financial goals will certainly depend on cash flow management.
There are many methods that can be used to check personal cash flow. You can do this manually, using a spreadsheet or application.
Form a habit to be more disciplined in managing routine expenses, so that in the future you can understand your savings and investment capabilities.
[Gambas:Video CNBC]
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