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Get to know the Sandwich Generation that Has an Impact on Financial and Mental Health

Admin BFI
18 April 2022
Get to know the Sandwich Generation that Has an Impact on Financial and Mental Health

Today, foreign terms often appear that have their own meaning. One of them is the sandwich generation. So, what exactly is the sandwich generation? Do you already know what it means? Or have you just heard of it? Here's the explanation.

Almost the same as its name, sandwich generation is a parable that is shown to individuals who are squeezed into a condition where they have to provide for themselves and their families at one time. This condition is likened to the stuffing of a sandwich sandwiched between the two pieces of bread. Being a sandwich generation is also not easy because you have to be smart in managing your finances. Then, what are the history, causes, and effects? Read to the end of the following article, yes.


1. History of Sandwich Generation

The term was first introduced by Dorothy A Miller who is a professor from the University of Kentucky in 1981. She introduced this condition in a journal entitled The Sandwich Generation: Adult Children of The Aging. The characteristics of the sandwich generation by generation are as follows.

  1. Generation at the age of 40-50 years flanked by the needs of parents and children.
  2. Generation in the age of 30-60 years flanked by the needs of children, grandchildren, and parents.
  3. Generation at what age must support themselves, family (if married), parents, and siblings

2. Cause of Sandwich Generation

sandwich generation - penyebab sandwich generation

Here are the causes of the emergence of the sandwich generation that often occurs.

2.1. Tied to the Sandwich Generation Chain

The first cause of the condition of the sandwich generation is the chain of sandwich generation or was once a sandwich generation where they have to support many parties in the family which causes expenses to swell, lack of savings, and no savings in the future and ultimately depend on the next generation.

2.2. Unstable Financial

Next is unstable financial conditions. It is undeniable that finance is the main problem found in the sandwich generation. There are many things that make you financially unstable, ranging from the failure of parents to prepare a pension fund, consumptive behavior, low education, and the absence of an emergency fund.

2.3. Consumptive behavior

Next is consumptive behavior. If during your youth, the lifestyle that is applied is not in accordance with your income, then this is most likely a habit until old age. Even in retirement, they can spend the pension they earn.

2.4. No Emergency Funds Available

As the name implies, an emergency fund is a fund that is intended for emergency purposes. Emergency funds usually cover the costs of education, hospitalization, and urgent needs. Usually, most emergency funds are used for health purposes. This is because the older you get, the higher your risk of disease. The absence of an emergency fund makes those who do not have stable finances, trapped in a sandwich generation condition.

3. Impact

sandwich generation - dampak sandwich generation

Not only does it interfere with financial health, someone who is trapped in the sandwich generation can experience mental health problems such as high-stress levels, physical exhaustion, feelings of dissatisfaction, anxiety, often feeling worried, and becoming close.

4. How To Break Sandwich Generation

sandwich generation - cara memutus sandwich generation

Because the sandwich generation can have a serious impact on the economy and health. In order not to get caught in the chain of this sandwich generation, here's how you can do it.

4.1. Wisely Manage Money

Having the knowledge and ability to manage finances well is a must-have for individuals belonging to the sandwich generation category. If you are not good at managing finances, you can be sure that the income you get will quickly run out and the allocation of expenses will be out of control.

Make sure to set aside salary or income at the beginning of the month for installments, needs, and savings first compared to consumptive expenses. In addition, wise ways to manage finances can also be done by bringing provisions instead of eating snacks outside the home, using public transportation at low costs, buying thrift clothes, and not following a hedonistic lifestyle.

4.2. Record Every Incoming and Expenditure

This is a basic thing that is most often forgotten. Yes, record every income and expenditure. For those who are stuck in the sandwich generation, it would be nice to record every expense and income. This step can be an indicator or benchmark in evaluating expenditures that are not needed or deemed unimportant.

4.3. Communicate with Family

The next way to break the chain of the sandwich generation is to communicate this to the family. You can be open about your monthly expenses and income. By communicating this, you too can be more relieved without having to carry the burden alone.

4.4. Looking for Other Sources of Income

The last thing you can do to get out of the sandwich generation trap is to find other sources of income outside your main job. There are many ways to get the money that can be obtained without having to spend capital and can be done from home. Check out the following article for information on how to earn money from the internet.

However, if you intend to find other income by opening a business or doing business, you can get capital by applying for a loan with a guarantee at BFI Finance. The advantages of borrowing a loan with collateral at BFI Finance are as follows:

  • Low interest
  • Long tenor
  • There are guarantee options ranging from BPKB for motorbikes, cars, to house certificates
  • An easy process can be done through the website
  • Fast loan disbursement
  • Trusted

Come on, instill a mindset or mindset that children are not investments that can finance life in the future and parents are not emergency funds that can be used as reserves or solutions when experiencing financial problems. Hopefully, this article is useful.

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