The personal finance management in Vietnam: Current situation and solutions

Personal finance is a relatively common concept in developed markets, but it is a new concept in the Vietnamese market. Personal finance plays an important role not only for individuals but also for the economy and whole society. Raising awareness about personal finance and personal financial management would contribute to improving the quality of life of individuals, contributing to develop financial markets and society sustainably as well. However, at present, personal finance management in Vietnam has not been fully understood and received adequate attention by the majority of the public. This study is to clarify the concepts of personal finance, assess the current situation of personal finance management in Vietnam, then propose suggestions to promote and develop personal finance management in Vietnam.