4-step roadmap to financial mastery for young people

TPO - At the seminar "Protecting personal finances - mastering money", Associate Professor Dr. Pham Tien Manh - Deputy Head of the Finance Department, Banking Academy, reminded students that having too much money is also a problem; do not despise small amounts of money... and shared 4 steps to master finances.

On October 2, at Hanoi University of Science and Technology, the Organizing Committee of Vietnam Card Day 2025 coordinated with the Office of the State Bank of Vietnam to organize a seminar on "Protecting personal finances - mastering money".

Speaking at the seminar, Associate Professor Dr. Pham Tien Manh - Deputy Head of the Finance Department, Banking Academy, emphasized that in personal financial management, people often encounter two situations: having too little money and having too much money. When lacking money, investment and consumption opportunities can be missed; but when suddenly having a large sum of money (such as winning the lottery, land compensation, etc.), if they do not have management skills, many people will fall into wasteful spending, quickly lose everything and lead to social consequences.

Associate Professor Dr. Pham Tien Manh shares at the program. Photo: Duong Trieu

Know yourself, know who you are

Associate Professor Dr. Pham Tien Manh has given 4 specific and practical steps for students to build a solid financial foundation while still in school.

The first lesson to master money is to increase income in a smart way, the most practical way is to work part-time. However, students should choose jobs related to their major, helping to accumulate experience for the future, instead of just doing short-term jobs like driving technology cars because it can affect health and neglect studies.

Recommending the use of simple financial tools, Associate Professor Dr. Pham Tien Manh said that when you have accumulated a small amount (for example, 1 million VND), transfer it from a payment account to a "term deposit" to receive a higher interest rate.

Next is reasonable consumption. Students need to understand themselves, “know who they are” to spend appropriately according to their circumstances, avoid following friends or emotions. Recording and tracking monthly expenses helps avoid falling into the “loop” of greed and fear.

In addition, students should form the habit of saving early. Just saving a small amount every month, transferring to a savings account or investing safely and long-term will create a necessary reserve.

Finally, the most important thing is to invest in yourself: study, take courses, improve your financial knowledge and life skills. This is the way to create sustainable value, helping students to be confident and take control of their future.

The "golden formula" to identify scams

Associate Professor Dr. Pham Tien Manh has proposed a simple but effective "test" to help students protect themselves and identify fraudulent investment opportunities.

"If someone offers you a super profitable investment opportunity with good profits, you just need to ask the opposite question: if it's so good, why don't you bring it home to their parents, their siblings... instead of letting them do it for you?", Associate Professor, Dr. Pham Tien Manh raised the issue.

Associate Professor Dr. Pham Tien Manh affirmed that any invitation with "super-imaginary" profits such as "doubling your account after 3 months or becoming a millionaire overnight" is definitely a scam.

Associate Professor Dr. Pham Tien Manh shares many useful skills at the program. Photo: Duy Pham

Source: https://tienphong.vn/lo-tienphong-4-buoc-lam-chu-tai-chinh-cho-nguoi-tre-post1783354.tpo