Financial management training should start in schools

Improving awareness of young people to see more promising investment channels

The sentiment was shared by Trinh Ha, a financial market analyst from Exness Investment Bank, at a conference held last week by VIR to scrutinise upcoming investment opportunities.

“In Indonesia, they have introduced asset management training to students in high schools. After graduating, these students can pursue different majors at university, but they will all have the basic foundations to handle their money wisely. Even those who go on to work in technical areas will understand how to manage their finances in the most optimal ways,” Ha said.

“Vietnam should also gradually change its mindset about educating students in this area while they are still at school. This is quite important,” he added. “In addition, investors' awareness of asset management or asset accumulation is limited, so we need to organise more training courses to help them better understand financial issues."

According to experts from Exness Investment Bank, “Investment funds are managed by leading experts, so we should make people believe that investing through funds is safer and more beneficial than investing in stocks themselves,” Ha said.

In developed markets like the United States and Europe, 80-90 per cent of people choose to invest through funds, and buy fund certificates instead of directly purchasing stocks. They can also buy market indexes, which are safer and have higher profits.

Improving awareness will also help people to realise there are often several promising investment channels.

According to Exness Investment Bank's evaluation, insurance is also an important factor because if people run into hard times and are not insured, it's normally their relatives who help bail them out. In developed countries, over 90 per cent of people have insurance.

In Vietnam, pensions are still managed by the government's social insurance fund, while in developed countries, there are voluntary pension packages with employers, who also contribute a percentage to the pension funds. This money is then invested by investment fund managers, and guarantees an income when employees choose to leave their companies at a high interest rate.

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