Gen Z prioritises saving, managing finances, and choosing environmentally friendly products, Bank DBS Indonesia is ready to help!
Indonesia, 10 Dec 2024 - Young consumers are simultaneously giving priority to saving and keeping their finances in order while splurging on certain items or experiences. On top of that, they are also focusing on environmentally friendly choices. According to
Visa Consumer Insights
2024, this mindset, dubbed '
split-brain budgeting
', has become a very common phenomenon among the younger generation. It turns out that among generations, Gen Z exhibits the strongest tendency toward this mindset.
Coinciding with these findings, data from
IDN Research Institute
in 2024 also shows an increasing awareness among Gen Z consumers of the importance of choosing products that are not only of high quality but also have a positive impact on the environment and the sustainability of natural resources. 82% of Gen Z respondents in Indonesia expressed readiness to pay more for eco-friendly and sustainably made products.
In view of this phenomenon, Bank DBS Indonesia shares tips to help young consumers manage their finances and expenses and at the same time contribute to the sustainability and preservation of the earth. Let's see how!
1. Practice frugal living, supported by the right financial products
Frugal living is a growing trend among Gen Z. They buy preloved items, minimising unnecessary purchases while taking advantage of discounts and rewards. This means we can be more prudent in our spending without feeling deprived.
However, frugal living doesn't mean sacrificing quality! Instead, frugal living encourages you to live with financial awareness and make wiser decisions. For example, when buying an item that is quite expensive, you can utilise the recently launched
digibank Z Visa Platinum
credit card from Bank DBS Indonesia. This product comes with a 0% installment feature for 3 or 6 months to help you maintain your monthly cash flow.
Also, use promos from
digibank Z Visa Platinum
that offers, among other things, a 50% cashback on your daily rides using ride-hailing applications or shopping on e-commerce platforms. By smartly choosing the financial products you use daily, practicing frugal living becomes easier and the various benefits can support your lifestyle.
2. Choose environmentally friendly financial products
Eco-friendly products are more than just tumblers or reusable tote bags! You can take things further by using digital banking services. Digital banks rely on online systems and generally implement a paperless system, eliminating the need for physical documents such as passbooks, receipts, or printed forms, thus reducing the carbon footprint and helping to keep the environment clean. Beyond digital banking, do you know that there are now credit cards designed to reduce your carbon footprint that use recycled plastic materials and have features that support green initiatives?
Digibank Z Visa Platinum
from Bank DBS Indonesia is a credit card made from recycled PVC plastic (
polyvinyl chloride
). Not only does it give you financial benefits in the form of attractive promos and features, but it also enables you to automatically support the Ciliwung River cleanup action with Waste4Change for every transaction you make until December 31, 2024.
On September 23, Bank DBS Indonesia together with Waste4Change also organised the first batch of the AKABIS or Akademi Bijak Sampah programme. Under this programme, participants planted 50 coffee trees to prevent erosion, released 1,000 fish seedlings to restore the river ecosystem, and conducted a river clean-up activity that removed 180.6 kg of waste consisting of glass, plastic, paper, and other residues. The waste was then selected and sent to the Waste4Change facility to be recycled as part of the effort to preserve the environment around the Ciliwung River.
It's easy to choose environmentally-friendly products! The key is to choose a banking partner that is committed to Environmental, Social, and Governance (ESG) principles with a focus on providing financial solutions that meet your needs while being environmentally responsible together with you.
3. Explore the world of green investment
Have you ever heard of the term 'green investment'? Green investment is an investment strategy that pays attention to good ESG aspects. Recently, green investment has been gaining popularity among the public. With green investing, you support solutions to global issues such as climate change, pollution and deforestation while potentially earning financial returns.
To pick the right stocks for green investing, start by looking for companies that have a high ESG score. This score shows a company's commitment to sustainability and social responsibility. Also, check their sustainability reports to understand their environmental initiatives such as reducing carbon emissions and using renewable energy.
Head of Card and Loan Business
at
PT Bank DBS Indonesia
Ari Lastina
said, “Many people think that a sustainable lifestyle is difficult and expensive, even though there are many ways to contribute without burdening the wallet. We are committed to supporting the younger generation to adopt an eco-friendly lifestyle through products like
digibank Z Visa Platinum
. Through this product, we want to make it easier for them to integrate sustainability into their daily lives so that every transaction is not only beneficial for them but also for the environment.”
It’s easy to manage your finances while protecting the environment, isn’t it? With the right choices, every little step you take will not only benefit yourself but also make a positive impact on our planet
[END]
About DBS
DBS is a leading financial services group in Asia with a presence in 19 markets. Headquartered and listed in Singapore, DBS is in the three key Asian axes of growth: Greater China, Southeast Asia and South Asia. The bank's "AA-" and "Aa1" credit ratings are among the highest in the world.
Recognised for its global leadership, DBS has been named
“World’s Best Bank”
by Global Finance,
“World’s Best Bank”
by Euromoney and
“Global Bank of the Year”
by The Banker. The bank is at the forefront of leveraging digital technology to shape the future of banking, having been named
“World’s Best Digital Bank”
by Euromoney and the world’s
“Most Innovative in Digital Banking”
by The Banker. In addition, DBS has been accorded the
“Safest Bank in Asia”
award by Global Finance for 16 consecutive years from 2009 to 2024.
DBS provides a full range of services in consumer, SME and corporate banking. As a bank born and bred in Asia, DBS understands the intricacies of doing business in the region’s most dynamic markets.
Established in 1989 as part of the Singapore-based DBS Group, PT Bank DBS Indonesia (Bank DBS Indonesia) is one of the banks with the longest history in Asia. Currently operating 1 Head Office, 13 Branch Offices, 16 Assistant Offices and 4 Functional Offices and 3,011 active employees in 15 Major Cities in Indonesia, Bank DBS Indonesia provides comprehensive banking services that focus on the customer experience to 'Live more, Bank less'. We also see a purpose beyond banking and are committed to supporting our customers, employees, and the community towards a sustainable future.
PT Bank DBS Indonesia
is licensed and supervised by The Indonesian Financial Services Authority (OJK), and an insured member of Indonesia Deposit Insurance Corporation (LPS).
DBS is committed to building lasting relationships with customers, as it banks the Asian way. Through the DBS Foundation, the bank creates impact beyond banking by supporting businesses for impact: enterprises with a double bottom-line of profit and social and/or environmental impact. DBS Foundation also gives back to society in various ways, including equipping underserved communities with future-ready skills and helping them to build food resilience.
With its extensive network of operations in Asia and emphasis on engaging and empowering its staff, DBS presents exciting career opportunities. For more information, please visit
www.dbs.com.
DBS Bank Ltd | 12 Marina Boulevard, DBS Asia Central @ Marina Bay Financial Centre Tower 3,
Singapore 018982 | Co. Reg. No. 196800306E
Tel: 65.6878 8888 | www.dbs.com
