Factors influencing personal financial management skills among coastal women in Vietnam

Abstract

This study analyzes the factors influencing the personal financial management skills of women in coastal areas of Vietnam, a group that plays a significant role in the local economy but often possesses limited financial skills due to unstable income and difficulties in accessing formal financial services. The research focuses on three key factors: financial attitude, financial literacy, and financial technology adoption, with the latter reflecting the ongoing digital transformation. Data were collected from a survey of 404 women in Nghe An, Thanh Hoa, and Nam Dinh provinces during the last three months of 2024. Employing a regression model to quantify the impact of these factors, the findings indicate that financial attitude, financial literacy, and financial technology adoption all have a positive and statistically significant effect on women's personal financial management skills. The study also found that age positively influences these skills. Based on these findings, the study proposes specific policies to promote financial education, expand access to suitable financial services, and encourage the adoption of technology to strengthen women's personal financial management skills, thereby contributing to financial inclusion for coastal women.