17:13 (GMT +7) - Wednesday 20/11/2019

Banking & Finance

Visa & CCVSA launch financial literacy program

Released at: 17:30, 27/04/2019

Visa & CCVSA launch financial literacy program

Photo: Visa

Program to educate students on economic challenges faced by young people.

by Hung Cao

Visa and the Central Committee of the Vietnam Students’ Association (CCVSA) on April 26 launched the 2019 “Practical Money Skills” program, announcing that they are expanding the scope of the program to include new topics that address the economic challenges faced by young people.

This is an educational program run by Visa and CCVSA and places additional focus on e-commerce, contracts, and seeking out smart buys.

This year’s program - the eighth annual instalment - will specifically focus on addressing frivolous spending under the theme “Money burns a hole in my pocket”. In addition to the core areas of responsible budgeting, saving, and spending, this year’s program will also address emerging areas of concern, like ensuring security while online shopping, what to be aware of when signing contracts, and managing credit to avoid unsustainable debt.

The format of the program this year will see teams of three students across the country develop plans to help promote financial literacy among their peers. Teams are encouraged to engage the help of advisors, such as lecturers, businesspeople, or student leaders, in the development and execution of their program.

In the second round of the program, the seven best teams with the best proposals will receive funding to put their plans into action. Teams will record the results of their activities, and the top 5 teams will be chosen to present them at a grand finale held in Hanoi, for the chance to win a number of attractive prizes.

“Following the Resolution from the National Congress X of the Vietnam Students’ Association, this year’s program is organized with the aim of cementing student counseling and support activities,” said Mr. Nguyen Minh Triet, Standing Vice President of CCVSA.

“With a creative organizational format, we believe the students will have opportunities to experience and familiarize themselves with many aspects of personal financial management. Students with excellent plans will receive funding from the Organizing Board to put their plans into action during the 2019 Green Summer Volunteer Campaign.”

“While many of the fundamentals of financial management don’t change, new challenges are always emerging that can trip up even the most financially savvy consumers,” said Ms. Dang Tuyet Dung, Country Manager for Visa Vietnam and Laos.

“With so many young people going online to do their shopping, that’s why, this year, we’ve added some new subjects to the program, like staying safe when shopping online and navigating contracts. It’s important that they have the skills to manage their finances and spending in all of Vietnam’s increasingly diverse commerce scenarios.”

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