BUDDHIST COMMUNICATION INNOVATION FOR PROMOTING PERSONAL FINANCIAL PLANING

Abstract

The objectives of this research are to 1) investigate personal financial planning; 2) analyze the Buddhist communication that support personal financial planning; and 3) propose a Buddhist communication innovation for promoting personal financial planning. It is qualitative, emphasizing the documentary research method. The results were analyzed contentually and proposed descriptively. The results of research followed as 1. Personal financial planning concerns the four basics of financial knowledge: earning, saving, spending, and investing. Including the following five steps of methods for planning: 1.1) assessing financial status; 1.2) setting financial goals;                 1.3) determining options and evaluating them; 1.4) creating and following a personal financial plan; 1.5) monitoring, evaluating, and improving the personal financial plan continuously. Further, personal financial planning will be successful because of the three important qualities of a person: 1.5.1) financial responsibility; 1.5.2) financial literacy; and 1.5.3) financial discipline.            2) The Buddhist communication that support personal financial planning aims to give receiver knowledge. It is interpersonal and organizational communication in a combination form of one-way and two-way communication. Moreover, its forms are conveyed by the manner of descriptive and doctrinal phrases through messengers and content, which play a key role in communication. The Buddha appears to be a sender, while his principles become the content that concentrates on financial goal setting, income earning, asset allocation, spending, investment, and financial discipline, by conversing verbally and non-verbally with numerous group receivers, including disciples, brahmins, wealthy people, and youngsters. 3) Buddhist communication innovation that promotes personal financial planning is the "SROMC Model". The communicator delivers Buddhist innovation in personal financial planning that attaches the criteria of the four principles for dividing wealth (Bhoga-Vibhãga) as the core idea. Such knowledge will be communicated to the targeted audience according to the objectives. A two-way interactive communication method through modern digital media. In every step of communication, the communicator must focus on the highest benefit for the receiver.