The effects of financial literacy on saving behavior in Vietnam

Abstract

The paper examines the impact of intellectuals on finance and other factors on personal saving behavior in
Vietnam. The Binary Logistic regression have taken for 639 respondents of survey from different provinces in
Vietnam; The results showed that financial literacy, major of high education, gender, marital status and attitudes
together with social behavioral factors have significant effect on personal saving behavior. Other related social
behavior factors have a positive (statistically significant) impact on personal saving behavior. The results suggest
that there should be well-educated financial literacy, visionary education programs to improve people’s financial
literacy for all strata, first to improve financial inclusion and while further improve domestic credit availability for
Vietnam’s economy to grow sustainably