"Gig economy" drives young generation to manage expenses more rationally
Jakarta (ANTARA) -
Dean of the Faculty of Social and Political Sciences for 2021-2025 at Universitas Indonesia, Prof. Dr. Semiarto Aji Purwanto, assesses that the development of the gig economy (freelance work economy) and flexible work patterns is driving millennials and Gen Z to manage their expenses more rationally and adopt thrifty lifestyles.
According to Semiarto, the younger generation is now considering more maturely the relationship between expenses and the benefits obtained in daily life.
“Frugal living or frugal living, I think people are starting to think more rationally now. What is spent and what is gained,” said Semiarto when contacted by ANTARA on Friday.
He stated that this mindset is developing amid rising living costs in urban areas, from housing costs, transportation, to lifestyle needs.
“Living costs in the city are indeed rising. Renting a house, owning a house, transportation costs, lifestyle is expensive,” he said.
On the other hand, according to him, the younger generation today also faces increasingly flexible work patterns and no longer fully depends on permanent jobs.
The Professor of Anthropology at Universitas Indonesia assesses that many young people now are more interested in project-based work, freelance work, or side jobs compared to permanent jobs with long-term commitments.
According to him, some of the younger generation today prefer work flexibility and opportunities to earn additional income rather than pursuing job stability like previous generations.
“It’s better to freelance, because once you get it, it’s a lot at once, and the matter is just how we manage our money,” said Semiarto.
He stated that this condition makes the younger generation increasingly selective in determining spending priorities and starting to avoid excessive consumption.
“Living frugally is no longer associated with people who are lacking. Now, frugality is a conscious choice,” he said.
Semiarto added that frugal living today is developing as part of new values in urban society that more emphasises reasonable and efficient consumption.