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| Shoppers consider their purchases at the market in Ward 7, Tuy Hoa City. Photo: THAI HA |
Prepare for change.
In the context of a volatile economy , a "belt-tightening" mentality has become prevalent. People tend to limit purchases of non-essential items and postpone major plans such as buying a house, a car, or investing. Instead, they focus on saving and accumulating cash to mitigate risks and cope with unexpected situations.
Ms. Thanh Hao (Hoa Tan Dong commune, Dong Hoa town) shared: “When the economy is stable, we easily agree to unnecessary expenses. But when the economy is difficult, every penny earned becomes precious. I have a daughter studying at university, so cutting expenses is not just about saving money, but also about ensuring that her studies are not affected even when the economy is more difficult.”
Meanwhile, Ms. Bich Nhung, the owner of a clothing store in Ward 7 Market (Tuy Hoa City), shared that she is looking for alternative business ventures as she has noticed that her business has not been doing well recently. Ms. Nhung said: “Winter and Tet (Lunar New Year) are usually the best times of the year for my store, but last year sales were very low, and revenue dropped sharply. In 2025, the government will begin streamlining and merging businesses, and fearing it will affect jobs, many people, even those with money, are hesitant to shop, leading to a significant decrease in customers. I tried to maintain business until the end of the third lunar month this year, but seeing that the situation was not promising, I sold off all my stock and temporarily closed the store,” Ms. Nhung explained.
On VnExpress, in an article about tightening spending during a difficult economic period, many readers said they no longer dare to spend lavishly as before. Among them, reader Phoenix shared: “After 2021, I learned the saying ‘spend minimally, save maximally’ to cope with life’s uncertainties.” Under that comment, a young reader with the username Yngocquynh wrote: “I’m a 2001 born, and after seeing the recent tariff changes, I’ve even abandoned my old habit of online shopping.”
Experts also suggest that cutting expenses doesn't mean living in poverty. The important thing is to know how to manage finances intelligently and make wise decisions to ultimately protect family finances and ensure a more stable future.
In current news stories, many people are concerned about the recent US tariff policy, which is having a profound impact on global trade and potentially leading to unpredictable changes. While uncertain, many worry that this will affect business and trade across all sectors, leading to increasingly fierce competition and even market elimination. Anticipating difficulties ahead, many families are determined to adapt to a minimalist lifestyle and save money as much as possible to prepare for future changes.
"Make do with what you have."
Faced with the pressure of rapidly rising prices and job changes, many families are being forced to adjust their spending plans to ensure a decent standard of living. Cutting unnecessary expenses and making do with what they have is seen as the optimal solution in the context of increasingly expensive living costs.
In recent months, almost everything has become more expensive, forcing Ms. My Dung in Dong Hoa town to cut back on many expenses to balance her budget. Accordingly, she and her husband agreed to minimize unnecessary purchases for adults, such as limiting clothing, cosmetics, shoes, and even weekend entertainment. “For example, during this holiday, even though the children have many days off, my family didn't go on a long trip as usual. I try to save as much money as possible because my business at the market isn't as good as before. My husband works as an accountant at a private company, earning a stable but not high income, so we only dare to buy essential items,” Ms. Dung said.
Creative in her approach to saving money, Ms. Thanh (Tuy Hoa City) said she explained to her children about the difficult economic situation, encouraging them to save and share. “Even young children can contribute to saving by turning off the lights when leaving a room, not wasting food and drinks, or voluntarily helping their parents with household chores. Sharing and understanding help family members bond more closely, enabling them to overcome difficulties together,” Ms. Thanh said.
Given the volatile economic situation, economic experts suggest that people should plan their spending wisely, prioritizing essential items; seek additional sources of income to improve their financial stability; and selectively update economic information to avoid panic.
Source: https://baophuyen.vn/hon-nhan-gia-dinh/202505/than-trong-chi-tieu-truc-bien-dong-2a91796/
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