Sun Life Asia, a leading financial services provider, has just released its second Financial Wellbeing Index 2025, with the theme of Balancing Current Needs and Future Goals, providing a comprehensive view of how people in countries across the region are managing their personal finances in a volatile economic environment.
In Vietnam, the results showed a slight improvement in financial confidence, but Gen Z is still the least financially secure and resilient generation in the survey, in contrast to 66% of Baby Boomers who feel financially secure.
The survey was conducted on 6,000 adults in 6 Asian markets: Vietnam, Hong Kong (China), Philippines, Indonesia, Malaysia and Singapore; including 1,000 Vietnamese, to analyze financial planning behavior, financial literacy, risk tolerance and the role of professional advice in building long-term stability.
Notably, Gen Z in Vietnam lags behind other generations in both confidence and financial preparedness, with only 52% feeling financially secure, lower than Baby Boomers (66%) and Millennials - the generation born between 1980 and 1996 (60%). Despite having the advantage of time, 57% of Gen Z still choose to invest safely, showing a cautious mentality and lack of understanding of the balance between risk and long-term profits. Gen Z is also the generation that seeks the least financial support with 28% not asking anyone for advice, even though this is a group that is in dire need of guidance from trusted sources.
The report said that in the context of rising living costs, Vietnamese people tend to focus on immediate needs instead of long-term financial goals. Daily expenses have become the top priority for 58% of survey participants (compared to 52% last year).
However, lack of long-term planning remains a major barrier to financial stability as more than half of respondents (52%) do not have a financial plan beyond 12 months, and only 8% have a vision beyond 10 years, indicating a large gap in Vietnamese people's financial planning capabilities.
The report also showed that people with high financial capacity often prioritize building an emergency fund (44%) and saving for retirement (41%); in contrast, the group with low capacity often focuses on paying off debt (42%) and starting a business (37%).
Source: https://hanoimoi.vn/hon-70-nguoi-viet-cam-thay-an-toan-ve-tai-chinh-709110.html
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