Holding Financial Literacy in Medan, BNI-AM Partners with Bibit to Share Tips Towards Financial Freedom

MEDAN - BNI Asset Management (BNI-AM) collaborated with Bibit, one of the fintech partners to hold financial literacy and inclusion in the city of Medan.

The activity entitled "Bibit Roadshow Medan" with the theme 'The Key to Achieving Financial Freedom', presented speakers, Doddy Prayogo - Financial Content Creator "Doddy Bicara Investasi" and Yekti Dewanti Head of Investment & Research Division BNI AM.

On this occasion, the two speakers shared tips on what steps to take and how to achieve financial freedom.

According to Doddy, financial freedom means having savings that generate passive profits. Then the profit is able to cover the cost of living for a year.

"Because when you are no longer working, you do not receive active income, your needs can still be supported by passive income," he said in an investor gathering packaged in a financial literacy and inclusion activity, Saturday (10/26/2024).

Doddy also emphasized that in investing, do not combine it with insurance. because this will be a burden for investments that must be disbursed regardless of the conditions.

"If you want to invest, just invest purely, don't combine it with insurance. Because insurance is a third party. There is always an administration fee for this transfer, usually 1-5 percent, in insurance there are also very few investment options," he added.

He also gave tips for beginners in taking investments by choosing those with low risk, such as money market mutual funds. If later, there is already trust and the money goes up, then go up again to other options, such as bond mutual funds.

"At this level there are indeed ups and downs, then stock mutual funds, if you already have strong trust and are sure. then start investing in index mutual funds," he said.

Doddy said that achieving financial freedom cannot be done by running or going at high speed. However, it is done in a marathon.

"So this financial freedom cannot be obtained in an instant. To achieve it, you have to do a marathon, it takes stamina and consistency and also motivation, why do you want financial freedom," he said.

Meanwhile, Yekti Dewanti said that to achieve this financial freedom, you have to have a plan.

Because if you have income, and immediately spend and do things you like, without saving, it will be difficult to achieve financial freedom.

"The key is to plan, start, execute and see how much the results are," he said while inviting people to start investing early.

He said when starting to invest, there are several options. This can be started by calculating income (savings), and living expenses in a year, then making an investment.

"Incidentally, I'm not a person who likes to shop. Shopping is necessary, but I'm not a hobbyist there. I also like traveling, but not a lot. So in the end, my savings are getting bigger because the cost of living is the same, wherever," he said.

From these savings, Yekti Dewanti admitted to investing a number of her assets in mutual funds, stocks, indexes, and combined mutual funds. "Because I'm quite moderate, I put 50% in stock mutual funds and 50% in fixed income," he said while emphasizing that when I get money, prioritize investment first.

"The important thing is to get money, prioritize investment first, if we buy this and that, it will definitely run out. Set aside some for investment first," he concluded.