Cooperation in training so that young people know how to... spend money

Saigon Thuong Tin Commercial Joint Stock Bank (Sacombank) cooperates with the Vietnam Youth Union and the Vietnam Student Association to provide in-depth training on digital banking and money management skills for young people.

Vice President of Vietnam Youth Union signed a cooperation agreement with Saigon Thuong Tin Commercial Joint Stock Bank - Photo: VU TUAN

The Vietnam Youth Union signed a cooperation agreement with SACOMBANK to improve money management skills for young people, including personal finance training and digital banking applications. Community projects and green living promotion were also implemented.

The program supports students in starting businesses and reducing financial dependence, while promoting innovation and digital transformation.

The three main contents are: popularizing digital finance, funding green finance projects, and supporting social security.

Sacombank will coordinate to develop a set of digital financial knowledge documents, organize training courses on AI in finance, circular economy and sponsor youth initiatives on sustainable finance.

In addition, the bank also supports training for young people to become "financial ambassadors", instructing people on how to use banking and financial applications, control spending, and save online. This is also one of the tasks the Youth Union sets for its members in the "Digital Literacy" movement.

For students, the training program will emphasize personal financial management skills and the application of modern digital banking technology.

In 2025, events such as Digital Finance Festival, Digital Finance Portal and National Youth Entrepreneurship Forum will be launched, creating a practical playground for young people to learn how to manage money.

Mr. Nguyen Tuong Lam - Secretary of the Central Youth Union, Chairman of the Vietnam Youth Union - said that recently, 16 community activity houses for 16 ethnic groups with very small populations have been built. The funding source is taken from the program "Footsteps for the community", this is both a practical contribution and encourages young people to live green and healthy.

Most students "run out of money before the end of the month"

A survey at Ho Chi Minh City National University in 2023 showed that 60% of students spent more than 80% of their monthly salary in the first week, and by the end of the month had to borrow or ask their families for more money.

This is just one of many surveys that show young people's impulsive financial management skills.

According to Shopee Vietnam: Students account for 30% of installment transactions on the platform, with popular products being phones, headphones, and laptops.

In 2024, Ho Chi Minh City Police recorded hundreds of cases of students being asked to pay debts from black credit apps, with interest rates of 20-30%/month.

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Source: https://tuoitre.vn/hop-tac-dao-tao-de-thanh-nien-biet-tieu-tien-20250326203619739.htm