The Key to National Independence Lies in Gen Z’s Wallet

Wherever we are—on social media, office discussions, or even in family settings—the issue of online loan (Pinjol) debt seems inescapable. However, there is one alarming fact: Generation Z, who should be the engine of economic growth, is currently the most entangled.

Data from the Financial Services Authority (OJK) shows a dramatic spike in bad credit cases among young people. This is no longer merely an individual problem. This phenomenon is a danger signal that we must recognize as a real challenge to our great ambition: the National Independence Movement (Gerakan Mandiri Bangsa).

From Salary Spent on Interest

Why are young people so vulnerable? The problem lies in a combination of factors: a trend-chasing lifestyle and easy access to instant finance.

Gen Z lives in an era where Fear of Missing Out (FOMO) is a primary driver. The urge “not to miss out” on experiences—such as concert tickets, traveling, or the latest gadgets—causes lifestyle expenses to soar.

Unfortunately, this desire is often far greater than the financial capacity of those who are still starting their careers. At the same time, Pinjol offers arrive aggressively and are easily accessible. The borrowed money is used for consumptive purposes—spent without return—rather than for productive purposes—which generate income.

When debt becomes overdue, many opt for the worst shortcut: “digging a hole to cover a hole” (gali lubang tutup lubang). This is a vicious cycle that causes small debts to balloon into tens of millions, consuming monthly salaries just to pay interest. Their energy, time, and focus are depleted, not for working creatively, but for paying off bills.

The Link Between Wallet and Sovereignty

The National Independence Movement is a collective effort to make Indonesia sovereign and not dependent on external parties. This independence is not solely a matter of politics or the military, but also the economic resilience of its people.

We must realize that the key to national independence lies in Gen Z’s wallet.

If millions of young people—the succeeding generation—are trapped in the snare of consumptive debt, they lose the power to innovate and build a new economy. They become fragile, and the collective energy of the nation weakens. A sovereign nation must have citizens who are sovereign over their own finances.

The Roadmap to a Sovereign Wallet

Therefore, it is time for us to stop focusing on debt panic and start building Financial Sovereignty. Sovereignty means having full control over our money, not being dictated by bills.

Here is a simple roadmap for Gen Z to lead this mission:

• Stop Consumptive Debt, Focus on Productivity: Use loans (if necessary) as a tool for productive purposes, such as small business capital or skill enhancement training. Borrowed money must generate money, not merely be spent.

• Adhere to the 30 Percent Golden Rule: As a defense mechanism, your total monthly debt installments should not exceed 30% of your total income. This is the safe limit for saving and maintaining a stable life.

• Literacy Above All: Study interest rates, penalties, and risks. Always use legal platforms registered with the OJK. Never trust instant solutions like “Joki Galba” (Debt Jockeys), as they are usually scams.

• Protect Your Credit Reputation: Never ignore bills. Immediately apply for restructuring if you face difficulties in repayment (directly with the legal platform). Remember, your track record on SLIK OJK is a reflection of your future financial health.

True independence is not about the ease of borrowing money, but about the ability to manage money wisely and be free from the necessity of borrowing.

To Generation Z, this is a call to take on a vital role. By ensuring personal financial health, you are directly contributing to the national economic strength. Let us make Gen Z the pioneers who lead our grand mission together: Realizing the National Independence Movement, which begins with a sovereign wallet and a smart mind.