# Shipping from & nbsp; Women's Economic Empowerment through a Financial Literacy Program in Garut Regency (Radarbandung.id)
Participation of the Bandung Institute of Technology (ITB) in terms of research and development of DINDONI Indonesia's technology has no doubt. As we know, the Bandung Institute of Technology has been known as the pioneer of innovation in the field of technology.
Over time, ITB is now starting to expand its wings to participate in the financial world. The seriousness of ITB in the financial world not only includes research and research alone, but is indicated directly through concrete activities with the community.
raised the topic of financial literacy, the Bandung Institute of Technology through its research team consisting of lecturers and students from two faculties / schools, business schools and management, as well as the Faculty of Industrial Engineering, namely: Sylviana Maya Damayanti, Anggita Leviastuti, Desy Kharohmayani, Ilham Reza Prasetyo, Asep Firhan Ali, Erika Yuono Putri, Faiza Nurkholida, Tiara Devi Santika, Dimas Muhammad Rabigh, and Ignatius Vito Wirawan Putra; Start a real breakthrough by focusing on increasing financial literacy in women in the area of ​​Garut Regency, West Java.
This activity began to be held from February to September. This is one form of community service activities aimed at increasing public awareness, especially women in dealing with financial problems in order to realize a more prosperous society.
Then, why should it start from financial literacy and what exactly is the financial literacy?
OJK defines financial literacy as knowledge, skills and beliefs that influence attitudes and behavior to improve the quality of decision-making and financial management in order to achieve well-being.
It is unfortunate that the number of financial products and / or financial services in Indonesia has not been proportional to the level of public understanding of it.
Based on the results of the survey conducted by OJK in 2019, the percentage of financial literacy in Indonesia is still considered quite low, only 38.03%. Of course, if it is not immediately addressed, it will lead to the community; Especially those who belong to the vulnerable economic group, enter into a deeper poverty gift due to the debt.
Low understanding of literacy in women than men, being one of the strong reasons the research team focuses on its contribution to women.
As the growing age, the role of women in the household began to shift. No longer limited to child caregivers and taking care of households, women began to participate in decision making, especially in financial terms.
It cannot be denied that women with their gait is increasingly taken into account have a crucial role to prevent an increase in poverty in Indonesia.
through better financial literacy, women will not only be empowered in financial decision making for their families; But it also strengthens the position of women as driving for economic growth in Indonesia.
Financial literacy can be seen as a preventive step to equip the vulnerable economic society to avoid more severe difficulties in life as a result of debt entanglement.
In addition, literacy about debt management can also provide shields for vulnerable economic communities not only to be consumed by jargon-jargon promotion & ldquo; fast money & rdquo; or & ldquo; easy money & rdquo ;; Especially considering this group of people is a market that has not been widely touched by financial services services.
In this case, financial literacy is required to compete with efforts to achieve financial inclusion, so that it can create a continuous positive impact but still dignified.
Community service activities are carried out through a digital approach and direct socialization. In order to follow the development of technology, the research team and Community Service ITB packed insights on the importance of financial literacy in social media, both in the form of Instagram, Facebook and also interactive learning videos on YouTube.
In addition, in order to be able to add to the insight of women regarding detailed financial literacy, the ITB community service team will also hold socialization of women in a number of cities in West Java.
In order to maintain health and salvation with each other, the socialization activities will be held online through several digital platforms.
The initial steps of ITB to participate in the financial world are expected to have a positive impact on the Indonesian people and also participate in the success of the government's agenda to always increase financial literacy in Indonesia.
With this activity, ITB has proven to the public that anyone, including technical schools can also take part in the financial education program.
Based on the results of the National Literacy and Financial Inclusion (Snlik) survey conducted by OJK in 2019, against 12,773 respondents in 34 provinces in Indonesia, recorded at 76.19% of the total respondents have used products and / or formal financial services services in Various financial industries. On the other hand, community understanding of the product and / or formal financial services of 38.03%.
This figure increased compared to the results of the OJK survey in 2016, the financial inclusion rate was recorded at 67.8% and a financial literacy rate of 29.7%.
The OJK survey results in 2019 also showed that based on gender, the level of financial inclusion and female financial literacy rate was 75.15% and 36.13% respectively.
This level is lower compared to the level of financial inclusion and the male financial literacy rate of 77.24% and 39.94%.
The low level of financial literacy has the potential to deliver the community; Especially those who belong to the economic group are vulnerable, into a deeper poverty gift due to being in debt.
scream economic difficulties encourage the achievement & nbsp; the decision to owe, in the hope that the loan money can take them to a more appropriate life.
However, as stated by Guerin, the decision to owe often causes a bias effect through more emphasis on short-term interests and vice versa, tends to be difficult to carry out long-term planning.
As a result, one must make a sacrifice that is too large in the posts of their lives to be able to fulfill loan obligations; What is certainly no need to happen if the public has known how to manage good and correct debt.
This phenomenon places financial literacy; Especially about debt management, as capital for the community in living life.
Financial literacy can be seen as a preventive step to equip the vulnerable economic society to avoid more severe difficulties in life as a result of debt entanglement.
Besides that, literacy about debt management can also provide shields for economic communities vulnerable to not only inedible with jargon-jargon promotion & ldquo; fast money & rdquo; or & ldquo; easy money & rdquo ;; Especially considering this group of people is a market that has not been widely touched by financial services services.
In this case, financial literacy is required to compete with efforts to achieve financial inclusion, so that it can create a sustainable positive impact but still dignified.
One of the expected outputs of this community service activity is to increase women's knowledge of financial planning and why it is important to understand.
In practice, the research team will also introduce simple planning measures that will be beneficial in everyday life.
Here are 5 steps of financial planning that are very easy to practice:
evaluates current financial conditions through the following question
-Where money is always not enough or & ldquo; big pegs than poles & rdquo;?
- Does money always run out to pay debt?
- Do you already have savings?
-Are I get used to owing to cover old debt or & ldquo; dig hole hole & rdquo;
- Do I often owe when there is a sudden need?
determines the purpose of financial planning
Develop a financial plan based on priority
Carry out financial planning that has been arranged with discipline
Evaluate and adjust the financial plan regularly.
Author: Erika Yuono Putri
School student school and management, Bandung Institute of Technology. Having interest in the financial world as has succeeded in publishing his two works in the form of international journals in June 2021 by the Advanced International Journal of Business, Entrepreneur and Smes (Aijbes) which focuses on the financial sector and operating management.
