1220 Factors Affecting Personal Financial Management Behavior Evidence From Vietnam 2023.Docx

THE STATE BANK OF VIETNAM MINISTRY OF EDUCATION AND TRAINING HO CHI MINH CITY, 2022 HO CHI MINH CITY UNIVERSITY OF BANKING HOCHIMINH UNIVERSITYOF BANKING BUI NGUYEN THIEN PHUC FACTORS AFFECTING PERSON[.]

INTRODUCTION

Rationale of the study

The Covid-19 pandemic that has temporarily subsided in Vietnam today is an opportunity for everyone to look back at the time when life was completely turned upside down under the tremendous impact of the virus strain named Corona. Especially in the field of finance, if financial management has been a vital element in people's daily lives for many years, the Covid-19 pandemic has once again been a reminder of importance of financial management behavior.

In the days of social distancing, we could easily see the image of a family falling into a state of financial exhaustion and helplessness when faced with an emergency situation, while they usually were the ones with low income and a certain amount of assets Many people also face job losses, salary cuts when they don't have any financial management plan or backup and savings in advance According to aPureprofile survey of 538 people conducted in April 2020, when the Covid-19 was exploding in the US, up to 45% of respondents said that because of the pandemic,they had lost all or part of their income and nearly 60% were forced to cut their day- by-day spending This proves that most people have not planned for future financial risks The world seems to wake up after the Covid-19 and only since the outbreak of this pandemic has people become more conscious about creating savings plans as well as making changes in their awareness and behavior towards daily financial problems That is also the reason why the finances of many individuals and families have fallen into disrepair when implementing the government's social distancing requirements.

How people view their financial situation

21% have reduced day-to-day spending reduced grocery spending made a Household budget

Plans on hold differently ^—/ *~/ atthistime

Large retail Home changing purchases improvements jobs cars16%, home 14% tech14% r renos13%, whĩte buying a goods 10% house 11%

Top 3 things peopleare puttingon hold have enrolled or

What the o o OA a re i nterested i n futureholds discounted university courses

All of this happens because many people's personal financial management practices are not good Meanwhile, another group of people achieved certain results in terms of financial management even during the difficult epidemic period

Specifically, they can still afford to spend during the time of social distancing, even though they were just average-income individuals when the Covid epidemic had not yet occurred.

So far, although there have been many studies on the factors affecting the personal financial management behavior, there is still no research showing the extent of the impact of the Covid-19 pandemic as soon as the pandemic has subsided as one of the main factors that directly affects the perception and changes of personal financial management behavior Meanwhile, updating the factors affecting financial management behavior to suit the constant changes of society is extremely urgent and important for economists and educators having appropriate policies and orientations for the stability of the financial life of each individual, leading to the financial stability of a country.

With those issues, I would like to choose the topic " Factors affecting personal financial management behavior: Evidence from Vietnam " to research for my graduation thesis at Ho Chi Minh City University of Banking.

Research objectives

The main research objective of the thesis is to determine factors affecting personal financial management behavior in Vietnam Also, the thesis aims to estimate the level of impact of these factors on personal financial management behavior Finally, the author will suggest some solutions to improve Vietnamese people’s personal financial management behavior.

Research questions

Through the objectives, the research question is posed as follows:

• Research question 1: Which factors affect personal financial management behavior?

• Research question 2: To what extent do these factors affect personal finanacial management behavior?

Scope of the study

Research subjects: People living and working in Ho Chi Minh City

Spatial scope: Ho Chi Minh City, Vietnam

Time range: Personal financial management behavioral metrics surveyed for the first 3 months of 2022.

Contribution of the study

Provide empirical evidence that the Covid-19 pandemic and many other factors such as financial knowledge, financial attitude, financial well-being, and financial socialization have an impact on personal financial management behavior.

The results of the study also show that financial knowledge does not affect personal financial management behavior It is this result that leads to the proposal of the need for a change in financial education in schools.

Research method

Use Descriptive Statistics to analyze data, present data into summary data tables, describe the basic characteristics of data collected from empirical research.The next step is to test the reliability of the data using Cronbach's Alpha and useEFA to determine the components of each factor Then use Pearson correlation to test the close linear correlation between the dependent variable and the independent variables and finally evaluate the impact of the independent variables on the dependent variable by OLS multiple linear regression model.

Structure of the study

Chapter 3: Research methods and data

Chapter 4: Research results and discussionChapter 5: Conclusions and recommendations

In this chapter, the author discussed the changes in people's financial management behavior, especially during the time of the Covid-19 pandemic, and also emphasized the urgent need for research into the factors affecting personal financial management behavior The task is to determine the factors influencing the behavior of personal financial management and assess their influence following the Covid-19 epidemic, according to the topic's selection rationale, the research purpose, and the research question The chosen research methodology is quantitative analysis, and the study's data comes from a survey on how people handle their personal finances that was carried out in the first three months of 2022.

In addition, the author also raised expectations regarding the topic's theoretical and practical research relevance Last but not least, the overall design and substance of each chapter in the study subject are also made evident.

LITERATURE REVIEW

Theoretical framework

According to Hilgert et al (2003), a person's financial behavior will consider the extent to which a person manages cash, debt, saves and spends Meanwhile, Horne et al (2002) argue that financial management behavior is the identification, acquisition, allocation and use of financial resources Besides, according to Kholilah and Iramani (2013), personal financial management behavior occurs due to a person's desire to meet their needs in accordance with income level Behavioral personal finance management is an individual's ability to regulate day-to-day planning, budgeting, checking, controlling, finding and storing financial funds. Personal financial management is a very important practice to train responsible individuals to manage their own finances effectively, starting with the management of money and other assets.

From the definitions given by some of the experts above, it can be concluded that personal financial management behavior refers to how a person responds (acquiring, allocating, deciding, using financial resources, etc.) in the face of financial events aimed at one or more objectives A person's financial decisions under various conditions will affect the present and future life as well as the economy of the country The undesirable short, medium and long term consequences of financial management behavior affect not only individuals, but also their households, and can ultimately create a range of undesirable events for society as a whole (Fenton et al., 2016) Empirical evidence demonstrates that if individuals achieve effective financial management, both their economic status and financial satisfaction will improve in the long run (The Consumer Financial Protection Bureau, 2015) However, the behavior of financial management is very complicated and difficult to implement Monitoring money and spending, including spending money sparingly and carefully, is a useful safeguard against risky financial activities.

2.1.2 Factors affecting personal financial management behavior

Based on the research model and experimental results of related previous studies: Joo & Grable (2004), Shim et al (2009), Xiao et al (2009), Ida & Dwinta

(2010), Xiao & Dew (2011), Woodyard & Robb (2012), Mien & Thao (2015), Arifin

(2017), Ameliawati & Setiyani (2018), Abel et al (2018), Prihartono et al (2018), Marko (2020), Gayan (2020), Le Thanh Tam et al (2021), the author proposes five factors affecting the personal financial management behavior of Vietnamese after being severely affected due to the social distancing caused by the Covid-19 epidemic as follows:

According to Garman et al (2006), the term financial knowledge refers to complete knowledge of facts related to personal finance and is key to personal financial management behaviors Previously, Vitt et al (2005) suggested that financial knowledge represents the ability to understand and apply financial management skills appropriately Effective financial planning, debt managing, accurate interest rate calculating, and understanding the power of compound interest are all hallmarks of financial knowledge In addition, financially savvy individuals have a better chance to recognize and understand aspects related to money and wealth management (Swart, 2012) As a result, financially literate individuals have the ability to make sound financial decisions and behave financially responsibly. Responsible financial behavior includes paying off credit card debt on time and prioritizing spending on needs, not desires Thus, through financial education, individuals can adopt better financial management behavior, thereby protecting long term financial health.

In the current world, personal financial knowledge plays an increasingly important role in the balance and prosperity of each individual in particular and the stability and development of the economy in general For emerging economies,financially savvy citizens can ensure that the financial sector can effectively contribute to real economic growth and poverty reduction (Faboyede et al., 2015).Vietnam is one of the emerging and developing countries, however, the financial level of Vietnamese is still very low, especially students - the future generation of the country Middle-aged persons had superior financial literacy than young or old people, according to Lusardi & Mitchell's (2011) research The amount of financial literacy of people increases with age, although this pattern is not entirely obvious. People between the ages of 23 and 29 and 40 and older have more financial literacy than the remainder of the age group, according to Chen & Volpe (1998).

Meanwhile, there are many studies that point to the importance of gender when it is suggested that men are better at financial management than women: Kharchenko

& Olga (2011), Al-Tamimi & Hussain (2009), Arrondel et al (2013), Koenen & Lusardi (2011); male students are more financially savvy than female students, which is consistent with previous findings: Chen & Volpe (2002), Eitel & Martin

In addition to individual characteristics, the researchers noted that family situation, such as parental education and employment levels, family economic standing, etc., also have an effect on pupils' financial knowledge (Mohamad, 2010). Murphy (2005) discovered that adolescents from educated backgrounds had higher levels of financial knowledge and that constantly discussing money matters with their parents improves their understanding of finances.

According to several earlier studies (Chen & Volpe (1998), (2002), Sabri et al

(2010), Shim et al (2009)), academic competence can explain financial knowledge. According to Jariah et al (2004), there is a significant correlation between academic achievement and financial knowledge, with higher GPA students having superior financial knowledge According to research, students with high GPAs are more likely than students with low GPAs to learn about finances from peers Additionally, the length of time spent in university has an impact on students' perceptions of finance, specifically, graduates are more knowledgeable than college students, and senior students are more aware of finance better than the younger ones.

Many factors affect an individual's financial knowledge, and this phrase also can be understood by many different definitions, depending on the individual.

However, the importance of financial literacy is obvious as it affects almost all areas of people's lives All studies showed that having financial knowledge does encourage people to behave in a more financially responsible manner, proving the association between financial knowledge and personal financial management behavior (Robb and Woodyard, 2011; Zakaria et al., 2012) Consumers who have a basic understanding of finance are more inclined to behave responsibly (Hogarth and Hilgert, 2002).

Financial attitude is a state that includes views, judgments and even thoughts about finances In other words, financial attitude is the attitude towards finance as seen from how to behave and make financial decisions.

An excellent financial attitude can change the way things appear based on one's personal, cultural, and moral values for financial decisions and products Financial attitudes shape the way people spend, save, store and waste money (Furnham, 1984). Indirectly, an individual's financial attitude can help the individual determine his or her behavior regarding personal financial budgeting, such as financial management or how to determine individual decisions about the type of investment to be made. Ajzen (1991) determined that financial attitudes are the result of a certain behavior of a person when making financial decisions and this attitude can be influenced by their economic or non-economic beliefs In addition, according to Borden et al.

(2008), financial attitude is a way of thinking and evaluating finance Some financial attitudes lead to the financial difficulties that young people often face (Lim (1997) and Madern (2012)).

Affecting financial attitudes have to include financial knowledge There is a connection between people's financial attitude and financial knowledge (Grable & Lytton, 1998; Kasman, Heuberger, & Hammond, 2018) Financial literacy among young people may be influenced by attitude toward money The degree to which students perceive money and finance positively can influence how they behave and how much they learn about money A bad attitude, though, will reduce their ability to make sound financial decisions (Shim, Xiao, Barber, & Lyons, 2009; Sohn, Joo, Grable, Lee, & Kim, 2012) The financial literacy of students is significantly influenced by their financial attitude, according to Soroshian and Teck's (2014) research On the other hand, education can enhance one's personal financial attitude Ibrahim and Alqaydi (2013).

It can be said that one's financial attitude influences how one regulates his financial behavior Ameliawati & Setiyani (2018) demonstrated the positive impact of financial attitudes on personal financial management behaviour This result is also confirmed by the studies of Davis and Schumm (1987), Shih and Ke (2014), Amanah et al (2016), Mien & Thao (2015), Herdjiono & Darmanik (2016). Meanwhile, according to Maharani's (2016), there is no relationship between financial attitude and financial management behavior since survey participants expressed the opinion that having a positive financial attitude is not necessary for using clever financial management because there is no desire to accomplish the goal of making a plan in the nearish future Amanah, Rahadian, and Iradianty (2016) also discovered that financial attitude very slightly affects financial behavior.

Based on a personal assessment of one's financial circumstances, financial well-being is the condition of being financially sound, content, and worry-free ( Joo,

2008) Previously, Van Praag et al (2003) measured financial well-being by the overall satisfaction with a one's financial situation Financial well-being is also defined as a state in which a person is able to fully meet the present and future financial obligations At the same time, they also feel secure about their long term financial ability and they can freely make choices that allow them to enjoy life (U.S. Consumer Financial Protection Bureau - CFPB, 2015) Instead of having any objective measure, that safety and contentment are entirely reliant on the subjective appraisal of one's own financial status This happens because income level does not have a substantial relationship with financial well-being Even though they may not be wealthy, some people believe they have a high level of financial well-being As opposed to that, other people make a lot more money yet are not at all happy with their financial situation Furthermore, through study and effort, as well as the right opportunities and supports – external influences, people can feel more satisfied or disappointed in their financial well-being The American Psychological Association(APA) discovered that roughly three-quarters of individuals suffer financial stress,with one-quarter of those experiencing extreme economic hardship on a daily basis due to paying their bills and difficult financial circumstances (APA, 2015).

According to U.S CFPB (2015), there are four key factors to specify financial well-being:

• Having good daily financial management skill;

• Being able to withstand a financial crisis;

• Being on track to achieve the financial goals; and

• Possessing the financial freedom to make decisions allowing to enjoy life. The first and fourth of these factors are primarily concerned with one's current condition, while the second and third are more concerned with ensuring the future. All of these factors have significant time-frame dimensions.

• igure 2.1 The four factors of financial well-being

Security Control over your day-to-day, month-to-month finances Capacity to absorb a íinancial shock

Preedom of choìce Financial íreedom to make choices to enjoy life On track to meet your financial goals

Source: Financial well-being: The goal of financial education - U.S CFPB (2015)

Besides, gender, ethnicity, age, income, education level, and marital status are socioeconomic and demographic characteristics that have a favorable impact on financial well-being (Hira and Mugenda, 1999a, b; Leach et al., 1999; Joo and Grable, 2004; Xiao et al., 2009; Shim et al., 2010) Numerous studies have utilized academic ability to forecast financial literacy and financial well-being (Chen and Volpe, 1998, 2002; Sabri et al., 2010; Shim et al., 2009) A good GPA demonstrates a student's capacity for knowledge acquisition and application, academic discipline, and participation in social organizations beyond the family These capabilities raise the likelihood that people will develop excellent financial management skills, thereby achieving a sense of satisfaction with their financial ability.

• igure 2.2 What influences financial well-being

Source: Financial well-being: The goal of financial education - U.S CFPB (2015)

Empirical review

Generally, there are relatively few studies related to personal financial management behavior in Vietnam Two related research works the author found are as follows:

• Le Thanh Tam et al (2021), “Personal Financial Management Behaviors during the Covid-19 Pandemic: Evidence from Vietnam” In this study, the author has pointed out four factors that have a strong impact on personal financial management behavior, including: (i) Covid-19 pandemic; (ii) Financial habits from parents; (iii) Financial education from parents; (iv) Financial well-being However, this study was conducted in early 2021, before the Covid-19 pandemic really broke out in Vietnam, and especially in Ho Chi Minh City Therefore, the level of reliability to assess the changes in personal financial management behavior affected by the pandemic of the study is not high.

• Nguyen Thi Ngoc Mien and Tran Phuong Thao (2015), “Factors Affecting Personal Financial Management Behaviors: Evidence from Vietnam” The authors of this study have pointed out the factors affecting personal financial management behavior by examining the relationship between four factors including personal financial attitude, financial knowledge, locus of control and financial management behaviors This is a well- researched work with high scientific value when widely cited in the world However, published in 2015, it did not have the appearance of the Covid- 19 pandemic factor.

• Mieske Anggraini Halim and Ignatius Roni Setyawan (2021),

“Determinant Factors of Financial Management Behavior Among People in Jakarta During Covid-19 Pandemic” The authors analyzed the influence of financial knowledge, financial attitude and financial literacy on financial management behavior in Jakarta during the Covid-19 pandemic, a period when the government of this nation severely curtailed numerous commercial operations, lowering people's purchasing power. Covid-19 was not taken into account in this study as one of the variables influencing personal financial management behavior, merely the time frame during which the investigators gathered data.

• Gayan Abeyrathna (2020), “Factors Affecting to Personal Financial

Management Behaviours of Government Employees in Sri Lanka”. Financial attitude, financial knowledge, and locus of control are some of the specific elements that have been identified as having an impact on the personal financial management behavior of Sri Lankan government employees The study did not, however, demonstrate the effect of the Covid-19 pandemic component The study's observational subject and sample are both fairly small.

• Abel Tasman, Deny Ari Efendi, Erni Masdupi (2018), “Analysis Of Personal Financial Management Behavior In Higher Education Student” It is the research that demonstrates the elements influencing personal financial management behavior, however the authors have noted a significant difference: the component of financial knowledge has a detrimental impact on students' personal financial management conduct. However, only students are the study's primary audience and this research was also carried out before the Covid-19 epidemic hit the world.

• Prihartono, MRD, & Asandimitra, N (2018) “Analysis Factors Influencing Financial Management Behavior” The study investigates how financial management behavior of Economics students is influenced by factors such as income, higher education learning, financial knowledge, financial literacy, financial attitude, and locus of control The study's scope is constrained because it is intended for students.

• Ameliawati M & Setiyani R (2018), “The influence of Financial Attitude, Financial Socialization, and Financial Experience to Financial

Management Behaviour with Literacy as the Mediation Variable” In order to understand how other factors like financial attitude, financial socialization, and financial experience impact financial management behavior, this study focuses on the intermediate variable of financial literacy Although a novel method of examining the variables influencing financial management behavior has been developed, this research has not yet made any significant advances Determining the variables influencing financial management behavior in the student group is still the main goal of the study.

The theoretical underpinnings of personal financial management behavior are discussed in this chapter with clarity Additionally, the theoretical framework also analyzes the Covid-19 epidemic and other elements that might influence human financial management behavior, such as financial knowledge, financial attitude,financial well-being, and financial socialization The author also looks at the subjects and research methodologies used by earlier writers on the same subject, including 2 domestic studies and 5 foreign studies This is the necessary theoretical basis to help the author choose to build a research model in the next chapter.

RESEARCHMETHODS ANDDATA

Research model and researchhypotheses

Based on previous studies, the proposed research model includes 5 factors affecting personal financial management behavior: financial knowledge, financial attitude, financial well-being, financial socialization and the Covid-19 pandemic. The author's hypothesis is that all 5 factors mentioned above have a positive impact on personal financial management behavior.

Personal financial Financial well-being management behavior

(Source: Compiled by the author)

Research data

Primary data was collected online through questionnaires for 560 individuals currently residing in Ho Chi Minh City with random sampling method, of which 557 individuals completed the questionnaire Observed variables are measured on a 5- level Likert Scale: level 1 (strongly disagree), level 2 (disagree), level 3 (neutral), level 4 (agree) and level 5 (strongly agree) Observed variables include: Financial knowledge (B), Financial attitude (C), Financial behavior (D) – representing the factor of Financial well-being, Financial education (E) – representing the element of Financial socialization, the impact of Covid-19 (F) and Personal financial management (G) In which, Personal financial management behavior (G) is the dependent variable, the remaining variables are independent variables.

The questionnaire was divided into two parts: the first part consisted of questions related to the respondents' demographics, the second part consisted of questions measuring the variables wanted to be observed The question is how to measure the factor and each question is an observed variable.

Research methods

The first step in analyzing the collected data is to use Descriptive Statistics to represent the data into summary tables, describing the basic characteristics of the data collected from empirical research Next is to test the reliability of the data using Cronbach's Alpha and use Exploratory Factor Analysis (EFA) to determine the components of each factor as well as the main factors affecting personal financial management behavior Then use Pearson correlation to test the close linear correlation between the dependent variable and the independent variables and finally evaluate the impact of the independent variables on the dependent variable by the OLS polyploidy linear regression model All steps use SPSS for data analysis.

The followings are to clarify each step:

Cronbach's Alpha coefficient is used to determine how reliable the scale is. This can be used to show how variables in the same group of factors are related. Because unsatisfactory observed variables or scales can create pseudo-factors, Cronbach's Alpha tool is used to test the scale The larger the Cronbach's Alpha coefficient, the higher the internal consistency reliability A good scale should have a Cronbach's Alpha reliability of 0.7 or higher, according to Nunnally (1978) Hair et al (2009) also suggested that a scale that ensures unidirectionality and reliability should reach Cronbach's Alpha threshold of 0.7 or higher However, a Cronbach's Alpha cutoff of 0.6 is appropriate for an early exploratory investigation.

Corrected Item - Total Correlation is another crucial metric This value represents the correlation between each observed variable with the rest of the variables in the scale If the observed variable has a stronger positive correlation with other variables in the scale, the higher the value of Corrected Item - Total

Correlation, the better the observed variable According to Cristobal et al (2007), a good scale is when the observed variables have the Corrected Item - Total Correlation value from 0.3 or more Therefore, it is necessary to consider removing the observed variable from the Cronbach's Alpha reliability test if the Corrected Item

- Total Correlation coefficient is less than 0.3 The higher the Corrected Item - Total Correlation coefficient, the better the quality of the observed variable.

It is also necessary to pay attention to the value of the Cronbach's Alpha if Item Deleted column, which shows the coefficient for the Cronbach's Alpha test for the particular variable in question It is vital to take into account this observed variable depending on each scenario, even though this is not a universal criteria to evaluate the reliability of the scale, if the Cronbach's Alpha if Item Deleted value is higher than the group's Cronbach Alpha coefficient The quality of the observed variable increases with decreasing Cronbach's Alpha if Item Deleted coefficient There is no concept of Cronbach's Alpha of each observed variable However, the exclusion of an observed variable based on the calculated criteria should also be considered based on the actual contribution of that observed variable in the factor If a variable's Cronbach's Alpha if Item Deleted value is not significantly higher than the Cronbach's Alpha coefficient of the group (the difference is less than 0.1), but its Corrected Item - Total Correlation value is higher than 0.3, it should be retained to see the variable's discriminant or convergence in the EFA step to assess the variable's quality, and then decide whether to keep or remove the variable.

Exploratory factor analysis, called EFA for short, is used to reduce a set of k observed variables into a set of F (with F < k) of more significant factors Studies frequently collect a considerable number of variables, and many of the observed variables have strong correlations We can analyze only 4 key features of an object instead of 20 minor characteristics, and within each of these big features, there are 5 smaller features that are associated with one another For researchers, this means additional time and money savings.

Cronbach's Alpha reliability testing assesses the link between variables in the same group, the same factor, but does not take into account the relationship between all observed variables in other factors Meanwhile, EFA examines the relationship between variables in all different groups (factors) to detect observed variables that load multiple factors or observed variables that are misclassified in the factor group from the beginning In other words, the EFA method belongs to the group of interdependent multivariate analysis, without dependent and independent variables. The condition for exploratory factor analysis is to satisfy the following requirements:

• The Kaiser-Meyer-Olkin (KMO) coefficient is an index used to evaluate if factor analysis is appropriate For factor analysis to be suitable, the value of KMO must achieve a value of 0.5 or higher (0.5 ≤ KMO ≤ 1) A factor analysis is probably not appropriate for the research data set if this number is less than 0.5.

• Bartlett's test of sphericity is used to see if the observed variables in the factor are correlated with each other or not The necessary condition for applying factor analysis is that the observed variables reflecting different aspects of the same factor must be correlated with each other This point is related to the convergence value in the aforementioned EFA study. Therefore, factor analysis should not be used on the variables under consideration if the test demonstrates no statistical significance Bartlett's test has statistical significance (sig Bartlett's Test < 0.05), showing that observed variables are correlated with each other in the factor.

• Eigenvalue is a commonly used criterion to determine the number of factors in EFA analysis With this criterion, only factors with Eigenvalue ≥

1 are kept in the analytical model.

• Total Variance Explained ≥ 50% indicates that the EFA model is appropriate Considering the variation as 100%, this value shows how much the extracted factors are condensed and how much percentage of the observed variables is lost.

• Factor Loading, this value represents the correlation relationship between the observed variable and the factor The higher the factor loading coefficient, the greater the correlation between that observed variable and the factor and vice versa According to Hair et al (2010), Multivariate Data Analysis, the loading factor from 0.5 is a good quality observation variable, the minimum should be 0.3.

• Factor Loading at ± 0.3: Minimum condition for the observed variable to be retained.

• Factor Loading at ± 0.5: The observed variable has good statistical significance.

• Factor Loading at ± 0.7: The observed variable has very good statistical significance.

Pearson correlation testing was carried out prior to executing the regression model The purpose of doing Pearson correlation is to examine the close linear correlation between the dependent variable and the independent variables and detect multicollinearity when the independent variables are also strongly correlated with each other, resulting in less reliable statistical inferences.

There are two types of correlation relationships: correlation between dependent variables and independent variables and correlation between independent variables. With the correlation between the independent variables and the dependent variable, when constructing the research model, the author carefully investigated the connection between the independent variables and the dependent variable to identify the independent variables that have an effect on the dependent variable These independent variables have been introduced based on the theoretical foundations, related prior research, and an evaluation of the actual situation in the survey setting.

As a result, the author anticipates that the analysis of the data will demonstrate that the independent variables are related to or have an effect on the dependent variable The findings of Pearson correlation show that the independent variable and dependent variable are correlated when doing correlation analysis prior to regression, indicating that the independent variable will have a greater impact on the dependent variable in the regression.

The correlation between the independent variables is the second sort of relationship If the correlation between two independent variables is too high, it is likely that these two variables are really just one variable or one notion Regressions with two or more strongly associated independent variables are likely to experience collinearity, which will bias the statistical findings As a result, the author expects a weak association between the independent variables.

Pearson correlation coefficient (r) fluctuates in the continuous range from -1 to +1 It only has any significance when the observed significance level (sig.) is less than the significance level α = 5%.

• If r is between 0.50 and ± 1, it is said to be strongly correlated.

• If r is between 0.30 and ± 0.49, it is said to be mean correlation.

• If r is below ± 0.29, it is said to be weak correlation.

RESEARCH RESULTS ANDDISCUSSION

Descriptive statistics

There were 389 females (69.8%) and 168 males (30.2%) among the 557 participants who took part in the survey The participants are largely young persons aged 17-25 (accounting for 86.9%), with the balance being subjects aged 26-30 (acting for 7.7%), 31-40 (accounting for 4.1%), and above 40 (accounting for 1.3%).

(Source: Statistics from the author's survey)

Business, accounting, finance and banking, medicine, tourism, education, human resources, hospitality, logistics, computer engineers, law, chemicals, and design are some fields in which survey participants have experience The majority of them are still single (accounting for 64.8%).

Figure 4.1 Age groups of survey participants

(Source: Statistics from the author's survey)

The survey's findings also indicate that most respondents in Ho Chi Minh City reside in their parents' or relatives' homes, the second highest in the data is in rented houses instead of in their own houses or apartments According to the surveyors' data on income sources, approximately 70% of the respondents are still reliant on their family for help with costs of daily living, education, employment, and entertainment. These figures are understandable since the majority of survey participants in the 17–

25 age range are students who are still enrolled in school or are working part-time and have not yet fully participated in the labor market.

Table 4.1 Residence of survey participants residence

(Source: Results extracted from Eview software)

Another remarkable result is also included in this descriptive statistic when the author conducts a survey of the educational attainment of the surveyor's parents in

Figure 4.2 Marital status of survey participants

■ Single ■ In relationship ■ Married order to be able to relate their ability to educate children's financial literacy As a result, until now, when the 4.0 era has dominated the world, in Ho Chi Minh City, the educational level of men of the Baby Boomers and Gen X is still higher than that of women Up to 33.4% of men have a university degree, but only 23% are at the same level as women More than half of the mothers of the respondents had dropped out of middle school and high school.

Table 4.2 Education level of surveyor's father

Under elementary and elementary school 42 7.5 7.5 7.5

Table 4.3 Education level of surveyor's mother

Under elementary and elementary school 57 10.2 10.2 10.2

Checking the reliability of the scale

6 questions with topics related to financial knowledge were asked in the survey and named group B Check the consistency of these 6 variables using Cronbach's alpha The test findings reveal that the reliability value of the Cronbach's Alpha scale of B is 0.746 > 0.6 and the observed variable B6 has Corrected Item - TotalCorrelation equal to 0.054 less than 0.3 The Cronbach's Alpha coefficient of scale

B6, which is 0.853, is bigger than the Cronbach's Alpha coefficient of scale B6, which is 0.746 B6 will be eliminated from the scale because it has almost no explanatory significance for factor B Analyze Cronbach's alpha a second time.

Alpha Cronbach's Alpha Based on Standardized Items

Scale Variance if Item Deleted

Cronbach's Alpha if Item Deleted

(Source: Results extracted from Eview software)3Following the exclusion of variable B6, the test result for factor B is shown below The Cronbach's Alpha coefficient of B is now higher, and every indicator in the Corrected Item - Total Corelation column is more than 0.3 As a result, factor B and all observed variables are adequately explained by the scale.

Table 4.7 Item – Total Statistics – B (II)

(Source: Results extracted from Eview software)6

In group C, the same procedures as above were also used, along with questions focusing on financial attitude There are 5 observed variables because there are 5 questions in this group The test findings reveal that the Cronbach's Alpha coefficient of C is 0.673 > 0.6 and the observed variable C1 has a Corrected Item - Total Correlation of -0.228 < 0.3 Since observed variable C1 only tangentially explains factor C, it will be dropped from the scale Examine Cronbach's alpha once more.

The following is the result table after removing C1 and leaving group C with 4 observed variables:

Table 4.11 Item – Total Statistics – C (II)

Cronbach's Alpha scale of C has a reliability coefficient of 0.869 > 0.6 and larger than the first analysis All observed variables have Corrected Item – Total Correlation greater than 0.3 As a result, the scale is trustworthy and component C is adequately explained by all observable factors.

The variables in group D represent survey questions related to financial behavior The results of the Cronbach's Alpha test indicate that the Cronbach's Alpha coefficient of D is 0.507 < 0.6 and the observed variable D13 has Cronbach's

Alpha if Item Deleted is greater than 0.6 Take out the observed variable D13 and do a second Cronbach's Alpha analysis.

(Source: Results extracted from Eview software)8 And here is the result after removing D13:

Table 4.15 Item – Total Statistics – D (II)

(Source: Results extracted from Eview software)7The Cronbach's Alpha coefficient of group D in the second time receives a new value exactly equal to the Cronbach's Alpha if Item Deleted value of the variableD13 (removed) and reaches the condition above 0.6, the scale ensures reliability The observed variables also have Corrected Item - Total Correlation greater than 0.3.

Test for reliability of Group E by using Cronbach's Alpha The Corrected Item

- Total Correlation index for each of the six observed variables, which correspond to the six questions on the theme of financial socialization, exceeds the threshold, classifying them as good variables and making it impossible to produce dummy factors for the outcome Therefore, group E does not require the step of deleting undesirable variables.

F is a collection of variables representing questions belonging to the factor ofCovid-19 pandemic There were 6 questions asked so there are 6 observed variables.However, after testing reliability by Cronbach's Alpha, F1 was shown to be a variable with a risk of creating dummy factors when having Corrected Item –

Total Correlation equal to 0.298 < 0.3 and Cronbach's Alpha if Item Deleted coefficient equals 0.783 greater than Cronbach's Alpha coefficient of the F group is 0.762 It will be deducted from the scale since the observed variable F1 has a very feeble explanation for the F factor.

(Source: Results extracted from Eview software)9 After removing the observed variable F1, the reliability of the variables in the F factor group was tested, and the following result was obtained:

(Source: Results extracted from Eview software) Table 4.21 Item – Total Statistics – F (II)

Similar to the results of the second Cronbach's Alpha analysis in the D factor group, the Cronbach's Alpha coefficient of the F scale in the second time receives a new value exactly equal to the Cronbach's Alpha if Item Deleted value of the variable F1 (removed) and reached 0.783 > 0.6 All observed variables have Corrected Item – Total Correlation greater than 0.3.

In addition to building observed variables for independent factors, it is also necessary to build a scale expressed through questions for dependent factors, otherwise the implementation of multiple regression analysis and tests using to the dependent variable later will not proceed It is required to have data for both the independent and dependent variables, not simply the independent variable, in order to be able to find the regression coefficients Lack of dependent variable scale can run Cronbach's Alpha, EFA but cannot perform regression analysis Therefore, in this step, after getting the answers from the survey with four questions related to the dependent variable G, we check these variables' reliability.

(Source: Results extracted from Eview software)2 The test findings demonstrate that Cronbach's Alpha coefficient of G is 0.725 > 0.6 and all observed variables have Corrected Item - Total Correlation values larger than 0.3 As a result, the scale is reliable and the observed variables have solid explanatory value.

In general, the results of using Cronbach's Alpha coefficient to test the scale's reliability increased after deleting certain poor variables Although the number of observed variables between groups is not equal, all factors have high Cronbach's Alpha coefficient.

Table 4.24 Checking the reliability of the scale by Cronbach's Alpha coefficient

Factor Number of observed variables

Exploratory factor analysis

Performing EFA analysis for this study, we have the following results:

Table 4.25 KMO and Bartlett test results (I)

Kaiser-Meyer-Olkin Measure of Sampling Adequacy .900

(Source: Results extracted from Eview software) Table 4.26 Total Variance Explained (I)

Extraction Method: Principal Component Analysis 00

Table 4.27 Results of rotated component matrix (I)

Rotation Method: Varimax with Kaiser Normalization a Rotation converged in 6 iterations

Results of the first EFA show that factor analysis is appropriate since KMO 0.900 > 0.5 and sig Bartlett's Test = 0.000 < 0.05 The variables were linked together because five components were recovered with eigenvalues larger than 1 and a cumulative total variance of 61.787% Instead of selecting the appropriate load factor based on sample size, the author will employ the load factor threshold of 0.5 in order to choose high-quality observed variables There is a problematic variable, D12, that needs to be deleted when comparing this threshold to the results in the rotation matrix since D12 does not have a load factor in all factors.

From 24 observed variables in the first EFA analysis, remove the D12 variable and include the remaining 23 observed variables in the second EFA analysis.

Table 4.28 KMO and Bartlett test results (II)

Kaiser – Meyer – Olkin Measure of Sampling Adequacy .894 Bartlett's Test of Sphericity Approx Chi-Square 6009.592

KMO = 0.894 > 0.5, sig Barlett’s Test = 0.000 < 0.05 Factor analysis is appropriate.

Table 4.29 Total Variance Explained (II)

There are 5 factors extracted based on the criterion of eigenvalue greater than 1, so these 5 summarize the information of 23 observed variables included in EFA in the best way The total variance extracted by these factors is 62.657% > 50%, thus, the 5 extracted factors explain 62.657% of the data variation of 23 observed variables participating in EFA.

Table 4.30 Results of rotated component matrix (II)

Rotation Method: Varimax with Kaiser Normalization a Rotation converged in 6 iterations.

The results of the second rotation matrix show that, 23 observed variables are classified into 5 factors, all observed variables have Factor Loading coefficients greater than 0.5 and no longer have bad variables.

Therefore, the EFA exploratory factor analysis was performed twice for the independent variables One observed variable, D12, was excluded from the analysis since it did not satisfy the requirement for the first time, which was the case with 24 observed variables In the second study, five distinct factors were created from 23 observed variables, including:

However, after the results from the EFA rotation matrix analysis, the observed variables were gathered or separated in different groups of factors compared to the order of arrangement based on the original survey questionnaire Renaming the groups of factors appropriately is a must before going into the next step.

Table 4's findings show that group 1 is made up of several observed variables that belong to two distinct groupings of factors: C (Financial attitude) and D (Financial well-being) Based on the standard features of the content of the survey's sections C and D, the authors chose to call group 1 Financial well-being (D) The titles of Groups 2 and 3 remain as Financial socialization (E) and Financial knowledge (B), respectively, as there has been no modification to either group in the result table Separated from factor F (Covid-19 pandemic) are the two-factor groups known as groups 4 and 5 We chose to rename group 4 as Financial attitude (C) after revisiting the shared traits of the observed variables of these two groups based on the survey questionnaire.

Table 4.31 Names of after EFA factors Component Name of factor Signal analysis 1 Financial well-being D

(Source: Compile by the author)

The renaming of the factors, although not complying with the principle of majority (the number of observed variables of any factor is greater, the group should be named according to that one), it is reasonable to ensure when considering the content, meaning, general characteristics and relationships of the observed variables to the group in which it is classified.

Analyze the dependent variable using EFA in the same manner as for the independent variables Specifically, the dependent variable G - Personal financial management behavior in this study consists of the G1, G2, G3, and G4 observed variables The findings are as follows:

Table 4.32 KMO and Bartlett test results

Kaiser-Meyer-Olkin Measure of Sampling Adequacy .706

KMO = 0.706 > 0.5, sig Bartlett’s Test = 0.000 < 0.05 Factor analysis is appropriate.

Initial Eigenvalues Extraction Sums of Squared

Extraction Method: Principal Component Analysis.

(Source: Results extracted from Eview software) Table 4.34 Component Matrix a

Extraction Method: Principal Component Analysis a 1 components extracted.1

The analysis results show that there is a factor extracted at eigenvalue equal to2.205 > 1 This factor explains 55.126% of data variation of 4 observed variables participating in EFA Factor Loading coefficient greater than 0.5 shows that all observed variables have good quality.

Correlation analysis

We got the following findings from this study's Pearson correlation analysis:

** Correlation is significant at the 0.01 level (2-tailed).

The sig value in the correlation analysis is less than 0.05 demonstrating that the independent variables have a linear relationship with the dependent variable.Among the independent variables, there is no strong correlation when the absolute value of the correlation coefficient between the pairs of variables is less than 0.5, so the possibility of multicollinearity is also lower.

Regression model

Performing multiple linear regression analysis to evaluate the impact of these independent variables on the dependent variable for this study, the results are shown as follows:

Std Error of the Estimate 488226

Durbin-Watson 1.9680 a Predictors: (Constant), F_AVERAGE, B_AVERAGE, E_AVERAGE, D_AVERAGE, C_AVERAGE b Dependent Variable: G_AVERAGE

The coefficient of determination R 2 (R square) is a commonly used metric of linear regression model fit The R 2 value is high when the majority of the data points are centered near to the regression line; conversely, the R 2 value is low when the data points are spread widely away from the regression line.

The Model Summary table gives the results R 2 (R Square) and adjusted R 2 (Adjusted R Square) to evaluate the goodness of fit of the model The adjusted R 2 value of 0.376 shows that the independent variables included in the regression analysis affect 37.6% of the variation of the dependent variable, the remaining 62.4% are due to out-of-model variables and random errors.

The table's results also provide Durbin-Watson values for evaluating the phenomena of first-order series autocorrelation Because the DW value = 1.968 is between 1.5 and 2.5, the results do not violate the premise of first-order series autocorrelation (Yahua Qiao, 2011).

Squares df Mean Square F Sig.

Total 212.281 5 a Dependent Variable: G_AVERAGE 56 b Predictors: (Constant), F_AVERAGE, B_AVERAGE, E_AVERAGE, D_AVERAGE, C_AVERAGE

After developing a multivariable regression model, the first consideration must be the model's fit to the data set as measured by the value of Adjusted R Square (or R Square) This fit, however, is only visible between the created model and the research sample data set Because the population is so big that it is impossible to survey the complete population, this study simply selects a small number of samples to investigate, allowing the basic features of the population to be deduced The F- test in the ANOVA table is used to determine whether or not this linear regression model is generalizable and appropriate to the population.

In this study, the sig value for the F test is 0.000 < 0.05 As a result, the linear regression model developed is appropriate for the population.

The t-test is then used to determine whether the regression coefficient of each independent variable is significant in the model There are two types of regression coefficients: unnormalized (called B in SPSS) and normalized (in SPSS called Beta). Each of these regression coefficients plays a unique function in comprehending the regression model's governance implications The author wishes to explore the significance of independent variables in this study It is impossible to compare unnormalized regression coefficients because the units of measure and standard deviation of the variables differ As a result, the author use normalized coefficients to compare all variables to the same frame of reference.

If the regression coefficient (B or Beta) is negative, the independent variable has a negative effect on the dependent variable If B or Beta has no sign (positive sign), the independent variable has a positive effect on the dependent variable When determining the degree of impact of the independent variables on the dependent variable, we will use the absolute value of the coefficient Beta; the larger the absolute value of Beta, the stronger the impact of the independent variable on the dependent variable In SPSS, the data of the t-test are taken from the Coefficients table.

The Coefficients table displays the t-test results to assess the significance of the regression coefficient's hypothesis, while the VIF index assesses multicollinearity and the regression coefficients.

Variables D (Financial well-being), E (Financial socialization), C (Financial attitude), and F (Covid-19 pandemic) all have Sig values below 0.05, confirming that they are explanatory significance in the model Variable B (Financial knowledge), on the other hand, has a Sig larger than 0.05, indicating that it has no intrinsic power for personal financial management behavior Furthermore, the VIF coefficients of the independent variables are all less than 10, even less than 2, indicating that the data does not violate the multicollinearity assumption.

These independent variables' regression coefficients are all positive, showing that they have a positive effect on the dependent variable Based on the value of the normalized regression coefficient Beta, the order of influence from the strongest to the weakest of the independent variables on the dependent variable G is as follows:

• Financial well-being has the strongest impact on personal financial management behavior.

• Financial attitude has the second strongest impact on personal financial management behavior.

• The Covid-19 pandemic has the third strongest impact on personal financial management behavior.

• Financial socialization has the 4th strongest impact on personal financial management behavior.

• The Financial knowledge has almost no impact on personal financial management behavior.

The residuals may not follow the normal distribution for a variety of reasons,including erroneous model application, non-constant variance, insufficient residuals for analysis, etc Therfore, various survey approaches should be used The simplest method of investigation is to create a histogram of the residual shown below.

Figure 4.3 Histogram of residual values

A normal distribution curve is overlaid on top of the histogram This curve is bell-shaped, which is compatible with the normal distribution graph The mean is near to 0, and the standard deviation of 0.995 is close to 1, indicating that the residual distribution is roughly standard It is possible to conclude that the assumption of normal residual distribution is not violated.

Aside from the Histogram, the P-P Plot is another common chart type for detecting violations of the normalized residual assumption.

Figure 4.4 Normal P-P Plot of Regression Standardized Residual

In the Normal P-P Plot plot, if the data points in the residual distribution stick to the diagonal, the residuals are distributed more regularly The more away from the diagonal the data points are dispersed, the less normal the distribution is.

Looking at the chart above, we can see that the residual data points are clustered quite near to the diagonal, implying that the residuals have an approximate normal distribution, given that the residuals' normal distribution is not violated.

The assumption in regression is that the dependent variable and the independent variables must have a linear relationship The Scatter Plot between the normalized residuals and the normalized prediction to determine whether the current data violates the linear connection assumption The assumption of linear relationship is not violated if the distributed data points tend to form a straight line with a tight spread.

The normalized residuals in this study's Scatter Plot are linearly distributed, estimated from the distance between the dots in the graph, which are vertically separated, showing that the variance of the residuals is uniform As a result, the linear relationship assumption is not violated.

In this chapter, the author has performed quantitative analysis techniques including descriptive statistics to provide an overview of the mean, maximum,minimum, standard deviation, and quantity observations of each variable In order to determine the component factors and the primary factors impacting the dependent variable, utilize Exploratory Factor Analysis (EFA) and Cronbach's Alpha to test the data's reliability The correlation analysis technique is performed to show the positive or negative correlation between the variables and the correlation coefficient shows the degree of correlation between the two variables Regression analysis was performed to evaluate the impact of each factor The research model was found to have no defects of variable variance and autocorrelation.

CONCLUSIONS AND RECOMMENDATIONS

Conclusions

This thesis has studied the impact of factors on personal financial management behavior right after the period when the whole world, especially Vietnam, faced the Covid-19 pandemic The majority of the 557 participants interviewed for this study were between the ages of 17 and 25 Many young people have never contemplated the importance of having an accumulation to save for bad times, but they now comprehend how to consider the necessity to budget so that they can save.

In addition to the factors affecting personal financial management behavior that have been found in many previous studies, this study clearly demonstrates that the Covid-19 outbreak is one of the main impacts on personal financial management behavior In a positive light, the Covid-19 pandemic may have raised awareness of the significance of personal financial management among young people.

With 5 hypothetical factors (B, C, D, E, F) that the author initially set out, there are 4 accepted factors: C, D, E, F, corresponding to the variables: Financial attitude, Financial well-being, Financial socialization, Covid-19 pandemic As for hypothesis

B being rejected, the element Financial knowledge had little impact on personal financial management behavior, or in other words, the variable Financial knowledge has no meaning in the regression model From this result it can be seen that, in spite of an unexpected result of the study, this represents a burning problem that has always existed in society when personal financial education in schools is still ineffective, resulting in many young people without the requisite information and abilities to succeed in life The author believes that all students should receive greater personal finance instruction.

Besides, students studying banking and finance typically have better financial management knowledge and skills than students majoring in other areas This is shown by the survey findings, proving that many students who do not study banking and finance have no knowledge of financial management.

Recommendations

Financial literacy is the foundation of financial well-being because it is financial education that offers solutions to income gap problems However, this study's findings indicate that there is minimal correlation between financial knowledge and financial management behavior, indicating that financial education in Vietnam is ineffective Since the financial sector is rife with false information, a person's lack of financial literacy as a result of inadequate financial education will have a significant negative impact on their own finances and spread to the entire economic system of a country.

The way we interact with money is changing along with the rest of the world. The global economic landscape poses new challenges and opportunities for people around the world Although financial inclusion and status may appear to be consumer-focused issues, enhancing overall financial well-being depends on many other factors However, when each person is financially secure, then society as a whole will advance in that direction Effective personal finance education is the key to improve personal financial management behavior leading to a financial well- being If customers are not completely educated about their financial condition, they will never be able to make informed judgments or confidently engage in the society's major economy Therefore, improving the quality of financial education is urgent, especially when we have just witnessed the destruction of the Covid-19 pandemic on the global economy As people's lives become more and more contemporary, there will be an increasing number of social, health, and economic changes The only thing we can do today to prepare is build a solid foundation since bad things might come at any time The perspective of each person is the strongest foundation there is Today, there is a clear need to raise the standard of financial education in order to instill good personal financial management behaviors.

As children learn to spend money at an ever-younger age, financial education today has to begin earlier They need to learn how to invest and save money from an early age Schools, nonprofit organizations, and financial institutions must be actively involved in every community Breaking down financial information into easy-to-learn, easy-to-understand curricula can create a new generation of quality finance Several strategies may be used to implement personal financial education,such as:

• Explain to your youngster how credit cards and bank accounts operate.

• Arrange retirement planning informative sessions for underserved communities.

• Online discussion boards where people may lawfully learn about financial systems and how to take advantage of them.

• Introduce activities that promote financial knowledge to children at a young age.

Financial education begins in the classroom, but it needs to last through adulthood Everyone has a different fundamental understanding of the financial system and participates in it at different times throughout their lifecycle It is necessary to create specific and suitable programs based on each age group's demands or life stage Personal finance should be taught to students in all professions so that they can manage their personal finances and have a better life when they graduate from academic environment Furthermore, Vietnam should apply subjects related to personal finance education not only at the university level but also at the high school, where students also have to learn about personal financial management like in many other industrialized countries throughout the world.

5.3 Limitations and further research directions

To some extent, the research has provided and updated the factors affecting personal financial management behavior, so that managers and planners can have policies to improve financial management behavior among the people and appropriate educational plans However, the study still has limitations.

Firstly, the study's reach is still constrained in the Ho Chi Minh City area. Although the respondents are from different parts of Vietnam, they are presently residing, studying, and working in Ho Chi Minh City As a result, they have been somewhat impacted by the way of life, culture, and awareness of the region that is currently the most prosperous in Vietnam Thus, by enlarging the sample and performing surveys in additional places, this may be entirely avoided in the subsequent research.

Secondly, about the research time frame, although the results performed the changes in personal financial management behavior when the survey conducted right after the Covid-19 pandemic had just begun to diminish, this is also a shortcoming since the study period was rather brief In order to provide a more thorough, accurate, and insightful estimate, the study time frame should be expanded and the data collection should be separated into smaller time periods.

Third, because 86.9% of the sample's participants are students between the ages of 17 and 25, the study solely assesses how young individuals handle their own finances It is feasible to broaden the survey age group in the next studies to get different outcomes.

In this chapter, the author summarizes the test results obtained from the model. Research results show that out of 5 independent variables, there are 4 variables affecting personal financial management behavior, which are Financial attitude, Financial well-being, Financial socialization, Covid-19 pandemic It is discovered that every factor influences personal financial management behavior in a favorable way From the research results, the author has made some suggestions and suggested some actions based on the findings of the research in order to enhance personal finance education in the educational setting and to emphasize the importance of financial education at all academic levels.

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PERSONAL FINANCIAL MANAGEMENT BEHAVIOR SURVEY

Mark only one oval Độc thân Đang có bạn trai/ bạn gái Đã kết hôn Đã ly hôn

Check all that apply Đi học

I Đi làm Nội trợ Thất nghiệp □ other:

6 5 Ngành học/làm của bạn là gì? (Nếu bạn không phải là sinh viên hoặc không phải là người đang đi làm thì không trả lời cầu hỏi này)

\ Giáo dục n Tài chính - Ngân hàng

' Nhà gia đình, người thân

8 7 Thu nhập hằng tháng của bạn đến từ những nguồn nào? (có thế chọn nhiều đáp * án)

_I Gia đình, người thân chu cấp

I Lương từ đi làm/ tự kinh doanh

9 8 Mức thu nhập của bạn hiện tại?

1.000.000đ-5.000.000đ trên 5.000.000đ -1O.OOO.OOOđ trên 10.OOO.OOOđ - 20.000.000đ trên 20.000.OOOđ

10 9 Mức thu nhập hằng tháng hiện nay của bạn đáp ứng như thế nào so với nhu cầu của bạn?

Mark only one oval Đủ và có tiết kiệm

Chí đủ đế học tập và sinh hoạt

10 Trình độ học vấn cao nhất của bố?

Tiếu học và dưới tiếu học

12 11 Trình độ học vấn cao nhất của mẹ?

Tiểu học và dưới tiếu học

PHẦN B KIẾN THỨC TÀI CHÍNH

13 Mức độ đông ý của bạn đôi với những nhận định sau: *

Mark only one oval per row

Rất không Không Trung Đồng ý Hoàn toàn đồng ý đồng ý lập đồng ý

1 Bạn phân biệt được doanh thu và lợi nhuận

2 Bạn phân biệt được thẻ tín dụng và thẻ ghĩ nợ

3 Bạn phán biệt được lãi đơn và lãi kép (lãi gộp)

4 Bạn biết thuế thu nhập là gì

5 Bạn hiểu lạm phát nghĩa là đòng tiền bị mất giá

6 Bạn chưa tùng nghe qua thuật ngữ 'giảm phát*

PHẦN c THẢI Độ TÀI CHÍNH

14 Mức độ đồng ý của bạn đối với những nhận định sau: *

Trung lập Đồng ý Hoàn toàn đông ý

1 Có bao nhiêu xài bấy nhiêu, không quan tâm tương laĩ

2 Tôĩ coi ừọng việc lập kế hoạch chi tiêu và tuân thủ kế hoạch đó

3 Tôi coi trọng việc kiếm soát chi tiêu mỗi tháng

4 Tôi coi trọng việc tiết kiệm tiền hằng tháng

5 Tôi coi trọng việc trả đầy đủ và đúng hạn các khoản nợ, các hoá đơn phàĩ thanh toán hằng tháng

PHẦN D HÀNH VI TÀI CHÍNH

15 1 Mức độ đồng ý của bạn đối với những nhận định sau:

Trung _ , Hoàn toàn Đông ý lập đông ý

1 Tôi thường xuyên ghi chép và kiếm soát chĩ tiêu cá nhãn cùa tôi

2 Tôi thường so sánh gĩá khi mua sắm một mặt hàng nào đó

3 Tôi thường chi tiêu nhiều hơn thu nhập (thâm hụt tiền)

4 Tôi luôn có khoán dự phòng tàĩ chính cho chi tiêu khấn cấp

5 Tôi hay đánh giá tình trạng tài chính cá nhãn trước khi ra quyết định mua sắm

16 2 Khi thu nhập không đủ bù đắp chi tiêu

Rất không Không Trung Đồng ý đồng ý đông ý lập on 9 y Hoàn toàn đông ý

1 Tôi sẽ giữ nguyên mức chi tiêu nhung làm thèm đế tăng thu nhập

2 Tôi sẽ giám chi tiêu và tăng thu nhập

3 Tôi liền vay tiền từ người thân, bạn bè

PHẦN E GIÁO DỤC TÀI CHÍNH CÁ NHÂN

17 Bạn đồng ý mức độ nào với bõ mẹ ở các khía cạnh sau:

Trung , Hoàn toàn Đồng ý “ lập đông ý

1 Bố mẹ hướng dẳn bạn cách quản lý tài chính từ bé

2 Bố mẹ dạy bạn cách sử dụng tiền một cách thông minh

3 Cho phép bạn tự chịu trách nhiệm chi tiêu từ lúc học phổ thông

4 Cho phép bạn trình bày ý kiến vào một sổ vấn đe tàĩ chính của gia đình

5 Nói cho bạn biết tầm quan ừọng của tiết kiệm

6 Khuyến khích bạn đi làm thêm đế tích lũy từ sớm

PHẦN F TÁC ĐỘNG CỦA COVID-19

18 Hãy cho biết mức độ đồng ý của bạn đối với những nhận định sau:

1 Dịch Covid-19 làm tôi chi tiêu ít hơn

2 Covĩd-19 lãm tôi nhận ra tầm quan trọng cùa việc tiết kiệm

3 NhờCovid-19, tôi bắt đầu quan tàm nhiều hơn đến thị trường chứng khoán, tiền ảo

4 Tan suất theo dõi chi tiêu cúa tôi tăng lên kế từ khĩ xuất hiện đại dịch Covid-19

5 Dịch Covid-19 làm tôi nhận ra tăm quan trọng cùa quỹ dự phòng

6 Tói cám thấy đại dịch là cơ hội đế nhìn lại và săp xếp cách quản lý dòng tiên hiệu quà

Trung _ , lặp “*” Hoàn toàn đồng ý

Tiêu đề	Factors Affecting Personal Financial Management Behavior: Evidence From Vietnam
Tác giả	Bùi Nguyên Thiên Phúc
Người hướng dẫn	Nguyễn Thị Mỹ Hạnh, PhD
Trường học	Ho Chi Minh City University of Banking
Chuyên ngành	Finance - Banking
Thể loại	Graduation Thesis
Năm xuất bản	2022
Thành phố	Ho Chi Minh City

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