The 6-Jar Rule: A Smart Way to Manage Family Finances
For couples with a comfortable combined income, like Minh Hoa (an accountant in Ho Chi Minh City), careful financial planning is essential. With a significant portion of their income dedicated to their children’s education, Minh Hoa and her husband allocate 10-15% of their monthly earnings to language and skill-building classes for their kids. The rest is carefully divided between living expenses, investments, and emergency savings.
To effectively manage their finances, Minh Hoa employs the popular 6-Jar Rule. This method involves allocating their income across six categories: Bank loan repayments for their home, utilities (55%), Savings for a future car purchase (10%), Entertainment (5-10%), Investments (10%), Education (10-15%), and Social/Emergency expenses (5%).
“In addition to the 6-Jar Rule, I use a budget tracking app to monitor our daily, weekly, and monthly expenses,” Minh Hoa shares. “I also optimize our spending by using credit cards that offer rewards and benefits, especially for supermarket shopping and online purchases.”
Minh Hoa particularly favors credit cards with cashback and reward point features, such as the VIB Family Link, VIB Rewards Unlimited, VIB Online Plus 2in1, and VIB Cashback. The VIB Family Link card, in particular, has become her go-to for paying her children’s tuition fees, as it often offers promotions and is accepted at many reputable educational institutions.
VIB Family Link: A Favorite Among Vietnamese Mothers
As Vietnam’s first credit card designed specifically for families, VIB Family Link offers innovative features that support parents in managing their household finances and investing in their children’s future. With generous reward points for spending on education, healthcare, and insurance, it has become a trusted companion for families with young children and young couples starting their lives together.
Cardholders can choose from three spending categories—Education, Healthcare, and Insurance—and enjoy up to 10% cashback in reward points. For all other spending categories, cardholders earn 0.1% cashback, with a maximum of 1,000,000 reward points per billing cycle.
One of the most appealing features of the VIB Family Link card is its 0% installment plan for all educational expenses, with no fees or interest. This allows parents to enroll their children in suitable courses without the immediate financial burden, as they can opt for a 3 to 6-month payment plan. Additionally, cardholders can enjoy exclusive benefits from VIB’s partner ecosystem, including 40% off on travel with VIB Travel, 30% off on dining with VIB Dine, 20% off on shopping with VIB Shop, and 10% off on transportation with VIB Move.
Apply for the VIB Family Link card in just 5 minutes and enjoy a waiver of the first-year annual fee when you spend 3 million VND. The supplementary card for your spouse is also free for life. Discover more here.
