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Financial terms may not be as popular as Intelligent quotient, emotional quotient, or even spiritual quotient. Financial Quotient (Fin-Q) is the awareness of one’s financial condition and ability to understand the importance of financial planning and implement good financial governance.

To measure the Fin-Q, Citigroup Asia Pacific online interviews with 100 respondents in Indonesia. Respondents, who are aged 18 years and over, have a bank account or credit card. Some questions posed include whether you are satisfied with the quality of life? Have you already established in the face of financial condition in the future? Did you create a budget and stick every month? Did you save each month?

Value of Q for the Citi Fin Indonesia shows the average 51 of 100 points or is in the low average position. 51 percent have good financial planning capabilities.

Half of the respondents expressed satisfaction about the quality of life, or 59 percent. While the remaining 41 percent were dissatisfied. Most also feel optimistic (78 percent) deal with future financial, and 23 percent worried about finances in the future.

Indonesian people generally have no problem with credit cards as 54 percent of Indonesia to pay the full bill credit card on a regular basis. However, Indonesia does not have the discipline of saving because only 47 percent have a habit of saving, while 45 percent tried to save money when possible. While only 29 percent comply with the monthly budget and 82 percent made only in the stage of trying to follow the budget. In general, Indonesian people understand that saving money is important, but do not have the discipline to set aside money and follow the budget plan.
From the results of the Indonesian people do not have the financial ability in retirement. Only 19 percent fairly certain of how much funding is needed at retirement, 41 percent did not know the need for funds in retirement, 23 percent have a formal retirement plan and 24 percent have not started any plans.

Related to retirement, 52 percent believe that retirement savings will lead to a comfortable life, while 49 percent are not sure at all about it. Ironically, if he loses his job, 1 in 5 people of Indonesia stated that the savings is only sufficient for 4 weeks. While the remaining 81 percent have savings for 11 weeks.

“In retirement there are parents who depend on their children so that when you reach the old days any person is not able to achieve financial independence,” he explained.

Indonesian People also still not believe in insurance. This was indicated by 43 per cent felt it was protected insurance and 31 percent have no insurance at all. Indonesia is also still a few people who understand how to invest, because if given 6 months of salary to be invested only 39 percent who really knows how the funds will be invested.

To achieve financial independence, it is advisable to do the things that determine short-term financial goals and pajnang term. Should also create a budget and save money on a regular basis in accordance with budget plan.

In supporting the investment we recommend every person to understand financial products and services so as to allocate funds not only to save money, but also to invest for the funds held to generate returns greater.