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How socio-demographic factors affect the personal finance management application assessment during the Covid period in Vietnam?

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  • Nguyen Duong Thanh Thao

    (Eastern International University, Binh Duong, Vietnam)

  • Ha Minh Tri

    (International University, Ho Chi Minh City Vietnam National University, Ho Chi Minh City, Vietnam)

Abstract

The research is carried out to identify how socio-demographic factors are related to the assessment of personal finance management applications. The authors collected observations via an online survey in Vietnam. The architecture of the article included: the transparency, intuitiveness, functionality, and faults of the application, whether it the meets financial needs of customers, the level of satisfaction with the application as well as the introduction to other people, the benefits and also disadvantages of the application, and the use of personal financial management application during the Covid-19 period. The study demonstrated that users would use banking applications rather than financial managers offered by non-banking organizations. The findings indicate that the applications are diaphanous, well-organized, and intuitive and the examined people are pleased with using them. The coronavirus pandemic has opened room for finding challenges in remote financial services, such as the potential risk of information security, the complexity of installing and using the applications, and so on.

Suggested Citation

  • Nguyen Duong Thanh Thao & Ha Minh Tri, 2024. "How socio-demographic factors affect the personal finance management application assessment during the Covid period in Vietnam?," HO CHI MINH CITY OPEN UNIVERSITY JOURNAL OF SCIENCE - ECONOMICS AND BUSINESS ADMINISTRATION, HO CHI MINH CITY OPEN UNIVERSITY JOURNAL OF SCIENCE, HO CHI MINH CITY OPEN UNIVERSITY, vol. 14(1), pages 3-19.
    • Handle: RePEc:bjw:econen:v:14:y:2024:i:1:p:3-19
    DOI: 10.46223/HCMCOUJS.econ.en.14.1.2396.2024
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    References listed on IDEAS

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    1. Sheth, Jagdish, 2020. "Impact of Covid-19 on consumer behavior: Will the old habits return or die?," Journal of Business Research, Elsevier, vol. 117(C), pages 280-283.
    2. Krzysztof Waliszewski & Anna Warchlewska, 2020. "Socio-Demographic Factors Determining Expectation Experienced while Using Modern Technologies in Personal Financial Management (PFM and robo-advice): A Polish Case," European Research Studies Journal, European Research Studies Journal, vol. 0(Special 2), pages 893-904.
    3. Krzysztof Waliszewski & Anna Warchlewska, 2021. "The influence of sociodemographic factors on the attitudes and expectations of the younger generation towards modern finance," Bank i Kredyt, Narodowy Bank Polski, vol. 52(4), pages 297-318.
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    Keywords

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    JEL classification:

    • D14 - Microeconomics - - Household Behavior - - - Household Saving; Personal Finance
    • G21 - Financial Economics - - Financial Institutions and Services - - - Banks; Other Depository Institutions; Micro Finance Institutions; Mortgages
    • G41 - Financial Economics - - Behavioral Finance - - - Role and Effects of Psychological, Emotional, Social, and Cognitive Factors on Decision Making in Financial Markets
    • G53 - Financial Economics - - Household Finance - - - Financial Literacy

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