Indonesians Love Saving Money

February 11, 2013 • Economy, People


“Jajan sih boleh saja, sisihkan buat nabung (It is okay to buy snack, set aside some for saving)
Belanja sih boleh saja, tak lupa nabung (It is okay to shop, don’t forget to save money)
Syik … Asyik asyik nabung (Fun..Fun..Fun Saving)
Bung nabung asyik (Ving..Saving is fun)
Bing Beng Bang yuk kita ke bank (Bing Beng Bang, let’s go to the bank)
Bang Bing Bung yuk kita nabung …….. “ (Bang Bing Bung, let’s save money)

It is a children’s song in 1996, written by Titiek Puspa, a famous Indonesian singer and songwriter, called ‘Ayo Menabung’. It literally means, Let’s save money! Guess, the spirit of this song indeed pervaded the Indonesians’ to save their money, just like the latest Nielsen survey result.

In the Consumers Belief Online Survey for the 4th quarter in 2012, released by Nielsen, showed that Indonesians love saving money. 74% of the respondents said that they have their savings. This number is the highest compared to other communities in Asia Pacific. It is only 33% of the netizen respondents in New Zealand and 44% in Australia. Generally, it is only 58% of the netizens in Asia Pacific who save money. It means that Indonesians acknowledge the importance of saving money.

Even though the index decreased 2 points compared to the 3rd quarter, that number showed a good and stable personal financial situation in Indonesia since 2010. Moreover, among 500 Indonesians respondents, there are only 10 persons or 2% who don’t have savings. This number is quite low compared to Asia Pacific respondents, it is 8% who don’t save money and even in New Zealand, the number reached 21%.

Furthermore, Indonesians also prepare their future, by setting aside 30% of their money to invest in stock market. And now, 19% respondents also invest in the pension fund. This number is also high compared to other citizen in Asia Pacific. From 7014 respondents in Asia Pacific, it is only 12% who invest in the pension fund. Even in Japan, the number only reached 4% while in Australia, there is only 7% of the netizen respondents who invest for their future.

Not only that, this survey also showed that Indonesians netizens also set aside 35% of their money for travelling fund. However, the survey also showed that Indonesians choose to spend money wisely when it comes to shopping. 80% respondents said that they have changed their shopping consumption. 57% netizens said that they postpone buying new gadgets/technology, 49% also reduce their hanging out and fun time outside the house while 44% respondents choose to reduce shopping for clothes.

Furthermore, 17% respondents placed their economic situation as their main concern and priority. The most interesting part is 7% of the respondents also prioritize the welfare and happiness of their parents.

(AY –


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