VISA smart financial management draws students across Vietnam

Linh Pham 17:41, 2019/09/20

The program enables students to address frivolous spending and economic challenges.

Visa Inc. (VISA) has wrapped up a program providing smart financial education which drew the participation of more than 4,000 students from 73 universities across Vietnam.

The 2019 program titled “Practical Money Skills”. Photo: VISA

Titled “Practical Money Skills”, the eighth annual installment of the program launched by VISA and the Central Committee of Vietnam Students’ Association (CCVSA) focused on a topic named “Cháy túi” (literally, “wallet on fire”, similar to the English phrase “money burns a hole in my pocket”).

This year’s issue covers sub-themes such as security while online shopping, being careful with contracts, and managing credit to avoid unsustainable debt. Students were given free rein to develop their plans, and could incorporate any suitable activities, games or media they felt would help to educate their peers about financial literacy, according to VISA.

Nguyen Minh Triet, permanent vice president of CCVSA. Photo: VISA

Nguyen Minh Triet, permanent vice president of CCVSA, said the program, which has lasted for eight years, has impressed the organizers by the creativity and hard work from students across the country, no matter whether they’re in metropolitan centers or in rural areas.

The program has created an opportunity for students to explore, experience and practice financial management knowledge and skills for themselves and their communities, he said, adding that CCVSA will continue the partnership with VISA to organize more financial and start-up opportunities for students.

Dang Tuyet Dung, country manager for VISA Vietnam and Laos. Photo: VISA

Dang Tuyet Dung, country manager for VISA Vietnam and Laos said financial literacy programs launched around the world for over two decades is a core part of VISA’s operational strategy.

“Financial literacy and building financial management skills for individuals in the community plays a crucial and positive role for families and the development of a modern society,” she said.

“Students are dynamic, smart and undoubtedly the pioneer generation to initiate and spread such values to each family and the community as a whole. Therefore, seeing so many students engaging with the topic of this program is incredibly gratifying for me, and for all of us at VISA,” she noted.

This year’s program

Best teams awarded. Photo: VISA

Kicked off in April, the program recorded roughly 1,300 submissions from 4,000 students coming from 73 universities across 23 cities and provinces nationwide.

Seven finalist teams were chosen to implement their programs between July and August, and were given funding to help them realize their plans. The five teams with the best results were chosen to attend the grand finale which was held in Hanoi last week.

Team MTU (Mien Tay Universities) from Mien Tay Construction University and Vinh Long University of Technology Education was awarded the grand prize. Photo: VISA

The team MTU (Mien Tay Universities) from Mien Tay Construction University and Vinh Long University of Technology Education was awarded the grand prize with a Visa prepaid card loaded with VND20 million for its campaign “MTU – 15 days of saving” which really impressed the judges for its creativity, range, and clarity in conveying a strong financial education message.

In addition to those directly involved in the program, the program’s educational materials (both physical and digital) reached over 35,000 people across Vietnam via social networks, while over 1,000 students got involved with the initiatives organized by the teams in round two, including holding workshops, debates, competitions—with one team even running a radio program in their university dorm.

Over the course of the program, VISA and the CCVSA released an online “Cháy túi Prevention Toolkit”, which students were able to draw on for inspiration for their programs. The kit includes eight useful tools such as: the “Impulse Extinguisher”, to be sprayed in case of reckless spending; the “Lie-spotting Flashlight”, to help you be contract-savvy; the “Privacy Mask”, to help protect personal information when making online transactions, to name a few.

With the mission to connect the world through the most innovative, reliable and secure payment network, VISA has been supporting the Vietnamese government in obtaining its goal for cashless payment until 2045.

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