Saving every penny
Ms. Nguyen Thi Luong Tra My, 21 years old, from Hai Phong, is currently renting a room in Thuong Tin commune (Hanoi City). As a communication staff working in Hanoi, Ms. My said that she always has to weigh every expense, cherish every penny to be able to maintain life with a fixed salary of about 7 million VND per month.
The most expensive item I have to spend each month is rent, electricity and water, costing about 3.5 million VND; gasoline and travel expenses also cost nearly 1 million VND; not to mention meals and personal living expenses," Ms. Tra My shared.
In addition to fixed expenses, Ms. My said that there are many expenses that if she records, she will be startled at the end of the month. Some expenses many people consider trivial but can cost millions of VND such as delivery fees, fast food, coffee, digital service registration packages. Not to mention, motorbike maintenance fees, medical expenses every time she is sick... make the meager income quickly run out, Ms. My falls into a difficult situation calculating every penny.
Ms. My said that there were many times when she ran out of money right in the first week of receiving her salary due to spending based on inspiration, without a clear financial plan. After times falling into a state of shortage, she was forced to change her spending habits, minimizing entertainment, shopping or meeting friends needs to balance the budget.
Every month I try to save about 500,000 VND as a reserve fund when I am sick or have emergencies. The amount is not much but it helps me feel more secure when living far from my family," Ms. Tra My said.
Not only saving money, the female employee believes that improving professional competence is a long-term solution to improve income. Therefore, Ms. Tra My is determined to focus on working to accumulate more experience, thereby seeking new job opportunities with better income.
I try to balance spending, when I am too stressed about the revenue and expenditure problem, I ask my family for additional support. My goal is to improve my professional capacity, accumulate skills and experience to find jobs with higher and more stable incomes," Ms. Tra My expressed.
Young workers must learn how to control spending
Also facing financial pressure when living in the city, Mr. Pham Nguyen Quang, 24 years old (Ha Dong district, Hanoi City) said that he is currently a communication staff, in charge of filming.
According to Mr. Quang, what worries him is not only worrying about monthly living expenses but also having to think about investing in equipment to serve his work.
With an average income of about 8 million VND per month, Mr. Quang believes that life in the Capital is becoming increasingly difficult. More difficult, with his job, if he wants to ensure product quality, he is forced to own high-cost equipment.
The job of media requires minimal equipment such as cameras and phones to be good, so I am forced to buy expensive ones. Without available money, I choose to pay in installments, when my salary comes back, I take it to pay off debts and then borrow around. The feeling of living in a loop only revolving around money," Mr. Quang shared.
Currently, in addition to the rent of about 3.5 million VND per month, Mr. Quang also takes care of travel expenses to serve his work. To have more income to support his life, Mr. Quang accepts video editing for individuals and businesses.
“Every minute of video editing I get paid 30,000 VND. This income helps me have extra income to take care of my busy life,” Mr. Quang said.
According to Mr. Quang, when starting an independent life, young people need to learn to control spending and carefully consider large-value purchases.
I think young workers should proactively ask for experience to know places to shop and eat that are both cheap and quality. At the same time, no matter what income, they are required to make a provision for medical expenses, to avoid falling into a passive position when encountering health problems," Mr. Quang shared.
