Empowering Indonesian Migrant Workers in Singapore Through Financial Planning Education and Consumption Behavior Management
DOI:
https://doi.org/10.59422/lp.v4i03.1598Keywords:
financial literacy, indonesian migrant workers, financial planning, consumption behavior, economic empowermentAbstract
Indonesian Migrant Workers (IMWs) in Singapore make a significant contribution to Indonesia’s foreign-exchange earnings through remittances; however, many face challenges in managing their finances effectively. Relatively high earnings are not always accompanied by adequate financial planning and may be associated with poorly controlled consumption behavior, thereby constraining the achievement of long-term financial goals. This community engagement program aimed to strengthen financial literacy, financial planning capability, and awareness of consumption behavior management among Indonesian migrant workers in Singapore. The program was conducted on 19 October 2025 at the Consular Service Room, 2nd Floor, Embassy of the Republic of Indonesia in Singapore, through collaboration among the Faculty of Economics and Business, Universitas Pancasila; the Embassy of the Republic of Indonesia in Singapore; and Indonesia Family Network (IFN) Singapore. The program involved 33 participants. The implementation methods comprised program socialization, interactive lectures, case studies, budgeting simulations, and mentoring, with program outcomes assessed using pre-test and post-test measures. The results indicate an increase in the participants’ mean comprehension score from 60 to 95, representing a 58.33% improvement. Participants demonstrated stronger understanding of budgeting, the distinction between needs and wants, the allocation of emergency and investment funds, and strategies for controlling consumptive behavior. These findings underscore the importance of sustained financial education for diaspora communities as a mechanism for strengthening the economic resilience and financial well-being of Indonesian migrant workers and their families.
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