Increase financial literacy

Oct 13, 2025 by windailys.com 108 views

Introduction

The City of Kisaran is a region in Indonesia that faces significant economic challenges, particularly in terms of household income and consumption patterns. This study aims to compare the consumption patterns of rich and poor households in Kisaran City, with a focus on identifying the factors that influence these patterns and the implications for socioeconomic development. By using a comparative descriptive method, this research explores the differences in consumption patterns between the two household groups and provides insights into the challenges faced by poor households in managing their finances.

Background

The City of Kisaran is characterized by a significant income gap between rich and poor households. According to the results of this study, the average total rich household income in the region is approximately Rp 7,794,000, with 48.5% of this income allocated for consumption and 51.5% for savings. In contrast, the average total poor household income is only Rp 2,327,000, with 88.2% of this income used for consumption and only 11.8% allocated for savings. These findings highlight the difficulties faced by poor households in managing their finances and the need for targeted interventions to address these challenges.

Methodology

This study used a comparative descriptive method to explore the consumption patterns of rich and poor households in Kisaran City. The data was collected through a survey of 100 households, with 50 households classified as rich and 50 households classified as poor. The survey instrument included questions on household income, expenditure, and savings, as well as demographic information such as the number of dependents in the family and the level of formal education.

Results

The results of this study show that there are several factors that affect consumption patterns, including the number of dependents in the family, the level of formal education, and the type of work. The average total rich household income in the region is significantly higher than the average total poor household income, with a difference of approximately Rp 5,467,000. This difference in income is reflected in the consumption patterns of the two household groups, with rich households allocating a higher proportion of their income for savings and investments.

Discussion

The findings of this study have significant implications for socioeconomic development in Kisaran City. The emphasis on excessive consumption patterns among poor households can hamper their chances of increasing the standard of living. Therefore, it is essential for the government and related institutions to design programs that can help increase the financial literacy of the community, so that they can better manage finances and reduce unwise patterns of consumption.

In addition, increasing access to formal education and better job opportunities can also help change the pattern of consumption in the community. With higher education, individuals tend to get better jobs, which in turn will increase income and allow them to invest more in savings or business. This can help to break the cycle of poverty and improve the overall standard of living in the community.

Conclusion

This study provides a clear picture of the difference in consumption patterns between rich and poor households in Kisaran City. The findings highlight the challenges faced by poor households in managing their finances and the need for targeted interventions to address these challenges. The study also provides insights into the factors that influence consumption patterns, including the number of dependents in the family, the level of formal education, and the type of work.

Recommendations

Based on the findings of this study, the following recommendations are made:

Increase financial literacy: The government and related institutions should design programs to increase the financial literacy of the community, so that they can better manage finances and reduce unwise patterns of consumption.
Improve access to formal education: Increasing access to formal education can help change the pattern of consumption in the community. With higher education, individuals tend to get better jobs, which in turn will increase income and allow them to invest more in savings or business.
Provide better job opportunities: Providing better job opportunities can also help change the pattern of consumption in the community. With better job opportunities, individuals can increase their income and invest more in savings or business.

Limitations

This study has several limitations, including:

Sample size: The sample size of this study is relatively small, with only 100 households surveyed.
Data collection method: The data was collected through a survey, which may not be representative of the entire population.
Limited scope: This study only explores the consumption patterns of rich and poor households in Kisaran City and does not provide a comprehensive analysis of the socioeconomic challenges faced by the community.

Future Research Directions

This study provides a foundation for future research on the socioeconomic challenges faced by the community in Kisaran City. Future studies could explore the following research directions:

In-depth analysis of consumption patterns: Future studies could conduct an in-depth analysis of consumption patterns in Kisaran City, including the factors that influence these patterns and the implications for socioeconomic development.
Evaluation of interventions: Future studies could evaluate the effectiveness of interventions designed to address the socioeconomic challenges faced by the community in Kisaran City.
Comparison with other regions: Future studies could compare the consumption patterns and socioeconomic challenges faced by the community in Kisaran City with those faced by other regions in Indonesia.
Frequently Asked Questions (FAQs) on Comparative Study of Rich and Poor Household Consumption Patterns in Kisaran City ====================================================================================

Q: What is the main objective of this study?

A: The main objective of this study is to compare the consumption patterns of rich and poor households in Kisaran City, with a focus on identifying the factors that influence these patterns and the implications for socioeconomic development.

Q: What are the key findings of this study?

A: The key findings of this study include:

The average total rich household income in the region is approximately Rp 7,794,000, with 48.5% of this income allocated for consumption and 51.5% for savings.
The average total poor household income is only Rp 2,327,000, with 88.2% of this income used for consumption and only 11.8% allocated for savings.
The number of dependents in the family, the level of formal education, and the type of work are factors that affect consumption patterns.

Q: What are the implications of this study for socioeconomic development in Kisaran City?

A: The findings of this study have significant implications for socioeconomic development in Kisaran City. The emphasis on excessive consumption patterns among poor households can hamper their chances of increasing the standard of living. Therefore, it is essential for the government and related institutions to design programs that can help increase the financial literacy of the community, so that they can better manage finances and reduce unwise patterns of consumption.

Q: What are the recommendations of this study?

A: The recommendations of this study include:

Increasing financial literacy through programs designed to educate the community on managing finances and reducing unwise patterns of consumption.
Improving access to formal education to help change the pattern of consumption in the community.
Providing better job opportunities to increase income and allow individuals to invest more in savings or business.

Q: What are the limitations of this study?

A: The limitations of this study include:

The sample size is relatively small, with only 100 households surveyed.
The data was collected through a survey, which may not be representative of the entire population.
The study only explores the consumption patterns of rich and poor households in Kisaran City and does not provide a comprehensive analysis of the socioeconomic challenges faced by the community.

Q: What are the future research directions of this study?

A: The future research directions of this study include:

Conducting an in-depth analysis of consumption patterns in Kisaran City, including the factors that influence these patterns and the implications for socioeconomic development.
Evaluating the effectiveness of interventions designed to address the socioeconomic challenges faced by the community in Kisaran City.
Comparing the consumption patterns and socioeconomic challenges faced by the community in Kisaran City with those faced by other regions in Indonesia.

Q: What are the policy implications of this study?

A: The policy implications of this study include:

The government and related institutions should design programs to increase the financial literacy of the community, so that they can better manage finances and reduce unwise patterns of consumption.
Improving access to formal education and providing better job opportunities can help change the pattern of consumption in the community.
The government and related institutions should also consider implementing policies to address the socioeconomic challenges faced by the community in Kisaran City, such as increasing access to credit and providing training and education programs.