Financial Freedom: Independence from Income
Many individuals with good salaries still experience financial stress. The reason lies not in their earnings but in their spending habits. Quite often, people spend beyond their means, failing to distinguish between essential and discretionary expenses, leading them into a ” earn-spend-worry” cycle.
Financial freedom doesn’t mean having a lot of money; it means being debt-free, having an emergency fund, being able to rest when needed, and making life choices without financial constraints. Many middle-income earners achieve this state by planning wisely and exercising discipline in their spending.
“I used to think that only a high income would bring comfort. But after applying the 50-30-20 rule – allocating 50% of my income to essentials, 30% to personal needs, and 20% to savings and debt repayment – and establishing an emergency fund, I feel much lighter and in control,” shares Ms. M., a 38-year-old office worker in Hanoi.
Balance, Accumulate, Share: Three Pillars for Sustainable Personal Finance
Building a solid financial foundation doesn’t require grand gestures. Simply keeping a record to balance income and expenses, prioritizing spending, and, most importantly, setting aside savings immediately upon receiving your salary, before any other expenditure, can help prevent “running out of money before the end of the month.”
After gaining control over expenses, regular monthly savings will build assets and enhance financial autonomy. Even small amounts, when saved consistently and wisely, can grow significantly over time due to compound interest.
However, even the most meticulous plans can be disrupted by unforeseen risks such as accidents, illnesses, or sudden loss of income. This is where “risk sharing” comes in, acting as a final safeguard to ensure that unexpected events don’t derail your financial goals.
A case in point is Mr. H. (35, Ho Chi Minh City), who was diagnosed with a liver tumor and required urgent surgery in early 2023. The total treatment cost amounted to VND 200 million, while his five years of savings only amounted to VND 150 million. Fortunately, he had purchased life insurance three years prior and received a payout of VND 300 million. “If not for the insurance, I don’t know how my family would have coped,” he shared.
Integrated Financial Solutions for Modern Vietnamese
Understanding the need for protection and accumulation, Dai-ichi Life Vietnam has developed An Tâm Song Hà nh Thịnh Vượng, a linked insurance product. This is not just an insurance policy but a “multi-functional financial tool” that protects, accumulates wealth, and enables customers to manage risks intelligently.
Drawing inspiration from the four basic arithmetic operations, the product offers a familiar financial approach that aligns with the positive and proactive mindset of the younger generation, as reflected in its message: “Add protection, Subtract risks, Multiply savings, and Divide worries.” By enrolling in this product, customers are safeguarded against the risks of death or total and permanent disability, with benefits payable up to 150% of the Sum Assured.
The product also offers the unique “Song Hanh Bao Ve” (Companion Protection) feature, which extends protection to a family member against the risk of accidental death, without additional premiums or health underwriting.
An Tâm Song Hà nh Thịnh Vượng – An integrated financial solution for Vietnamese families, offering protection and accumulation.
In terms of accumulation, the product enables customers’ funds to grow safely through the Linked Fund, providing returns based on actual investment results, which are guaranteed to be no lower than the committed interest rate. By maintaining regular premium payments, customers are also eligible for Loyalty Bonuses and Persistence Bonuses, ensuring the sustainable growth of their contract value.
As more people take charge of their personal finances, combining protection and accumulation not only effectively manages risks but also paves the way for achieving financial freedom confidently and durably. This freedom isn’t about how much money you have but about controlling your life: being proactive, having goals, and being prepared for the unexpected.
And the most important thing about any financial journey: it’s never too early or too late to start!
Interested customers can find more information at: https://tinyurl.com/ul6new
