Spending trends among young people: using technology, smart saving

With prices on many goods rising and incomes still unstable, young people in Dong Nai are increasingly turning to “smart spending”, planning their expenses and managing finances through technology apps. This trend also reflects the proactive, modern lifestyle of today’s young consumers.

Young people, particularly students, keep up with the trend of using smart apps to manage their spending. In the photo: A young person reviews a spending chart to balance income and expenses for the month. Photo: Le Duy

Smart spending in the digital era

With the economy facing difficulties and incomes and employment remaining unstable, from living costs to entertainment, managing personal finances has become a top concern for young people. Alongside the rapid growth of digital technology and e-banking, a new generation of consumers has emerged – practicing “smart spending.” They not only spend wisely but also use technology to monitor, save, and optimize every penny in their daily lives.

Nguyen Thi Minh Anh (24 years old, a graphic designer in Bien Hoa ward) shared that she used to record her expenses in a notebook, but it was easy to miss entries or forget to update them. Since switching to a budgeting app on her phone, every transaction is automatically logged and clearly categorized. “The app shows me how much I spend each month on food and drinks, shopping, and transportation. Seeing the summary chart makes it easier for me to adjust my spending habits,” Minh Anh said. Thanks to this, she has been able to save an average of 1.5 million dong each month compared to before.

For Tran Hoang Nam (27 years old, an IT employee living in Trang Dai ward), expense management has become fully automated. He has set up his banking app to automatically transfer 20% of his salary into a savings account on payday. “I call it ‘set and forget’ through automating it, then just let it run. This way, I no longer have to wrestle with myself every time I’m tempted to overspend,” Hoang Nam shared. Additionally, he utilizes a spending management app to track his cash flow, complemented by an e-wallet that allows him to take advantage of cashback offers when making purchases.

Spending management applications, such as MISA MoneyKeeper, Money Lover, Spendee, MoneyOi, and PigG, have gained popularity due to their ease of use, user-friendly interfaces, and direct connection capabilities with bank accounts. Once data is synced, all transactions are automatically recorded and displayed in visual charts. This initiative allows users to easily track cash flow, identify “leakage points,” and make timely adjustments.

Beyond simply tracking expenses, the younger generation is also learning to optimize spending to generate returns. By using cashback or rewards-earning credit cards and e-wallets such as MoMo, ZaloPay, ShopeePay, or digital bank cards like Cake by VPBank, MB Bank, and VPBank, they can save money with each payment. Some young people also take advantage of discounts and cashback offers on frequently used services such as ride-hailing, online shopping, and bill payments. These small cashback amounts, accumulated over time, form a “soft savings fund” that helps them manage their finances more effectively.

“Smart spending” habit, planning expenses, and managing finances through digital apps and visualized data not only help save money but also foster a more modern, proactive, and sustainable lifestyle.

When technology becomes “an assistant”

Sharing her experience, Nguyen Hong Phuc, a student at Dong Nai University, said: “These days, almost every student uses an e-wallet or a banking app. I set a monthly spending limit, and the app sends me an alert if I go over it. This initiative helps me stay in control and avoid emotional spending. Sometimes I even get cashback when paying tuition or shopping online, which adds up to a small but helpful saving.”

According to Dr. To Hoai Thang from the Department of Business Administration at Dong Nai University's Faculty of Economics, the growing trend of smart spending among today’s youth is a positive signal amid ongoing economic volatility. “The younger generation not only adopts technology quickly but also knows how to leverage it to improve personal financial management. The key is that they don’t save based on emotion, but rather on data, planning, and clear goals. This endeavor forms a foundation for developing a strong financial mindset from an early age,” Dr. To Hoai Thang noted.

Dr. To Hoai Thang added that to maximize the effectiveness of technology in financial management thoroughly, young people must cultivate personal discipline alongside the use of digital tools. Despite the abundance of supportive applications, if users fail to maintain habits such as monitoring expenses, setting spending limits, or tracking their savings progress, the entire system becomes meaningless. Technology is merely a tool; the decisive factor remains each individual’s financial awareness and behavior.

According to financial experts, the “smart spending” trend reflects not only young people’s adaptability to technology but also signals a growing level of financial maturity among the younger generation in Vietnam. They no longer view saving as deprivation, but as a strategy to achieve financial freedom more quickly. Integrating technology into expense management also helps reduce stress, increase transparency, and provide individuals with a clearer understanding of their own spending habits.

By Le Duy – Translated by Thu Hien, Minho