For nearly two years, Ms. Ngoc Linh in Go Dau Street of HCMC's Tan Phu District has been the sole provider for her family due to her husband's unemployment. She covers all household expenses, including a home loan installment exceeding VND20 million (US$783), education costs for her two young children amounting to over VND5 million, and life insurance payments of VND4 million. In total, her family needs at least VND35 million per month.
To meet these financial demands, Ms. Linh not only works full-time at her company but also takes on tutoring and various side jobs.
Sharing concerns similar to Ms. Linh, resident Minh Tuan in Go Vap District of Ho Chi Minh City discussed with his wife ways to cut unnecessary expenses and alleviate financial pressure. For instance, he also hunted for discounted and promotional items at supermarkets and shopping centers. Additionally, he ordered goods in bulk with a group of friends to take advantage of better price incentives. Rough calculations suggest that with prudent spending, his family could save approximately VND3 million per month.
Mr. Minh Tuan said that if buying vegetables, fruits, meat, fish, and seafood in bulk at wholesale prices, they can save 20 percent–80 percent compared to purchasing them individually at large retail stores. Even when hunting for discounted items, savings can range from 10 percent–70 percent. Additionally, by reducing dining out, his family can achieve even more significant savings.
Many families opt to cook once and eat throughout the day to save on electricity, water, and gas. In the evening, after work, they simply reheat the food for a quick meal. According to a revelation of resident Le Thuy in Thu Duc City, she wakes up early each morning to prepare rice, along with a variety of boiled, stir-fried, and savory dishes. This allows the whole family to have breakfast at home before the adults head to work and the children go to school.
Economic difficulties and rising prices have significantly affected the lives of each family. In large cities, the economic pressure is even greater.
To make ends meet, many families carefully plan their long-term finances. This involves reducing discretionary spending, such as dining at restaurants and frequenting sidewalk cafes.
However, families aim to spend more properly and economically. Like Ms. Ngoc Linh's family, despite reducing expenses and tightening their budget, they still maintain a nutritious diet with meat, fish, eggs, and fresh milk. On weekends, they make an effort to spend quality time together, whether visiting the Saigon Zoo and Botanical Gardens or taking a stroll along Nguyen Hue Walking Street.
In addition, families should prioritize essential expenses like food, healthcare, and education. They should also proactively plan monthly budgets and maintain emergency savings. While cutting back on luxury goods and entertainment can help, individuals should also focus on improving job skills, investing in professional development, and boosting their earning potential.
According to the Department of Employment under the Ministry of Labor, Invalids, and Social Affairs, the labor market in 2025 is expected to experience significant fluctuations. Low-educated and unskilled workers will face a higher risk of job loss, reduced income, and fewer employment opportunities as automation and artificial intelligence (AI) technologies become more widely implemented. The department advises workers to enhance their skills, improve their qualifications, and continuously develop their expertise to remain competitive, secure their jobs, and maintain a stable income.
