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Saving over 100 million VND as a student

In December 2020, during the severe impact of Covid-19 on the economy of Vietnam, Nguyen Phuoc Xuyen (27 years old, financial planner) took the risk to own his first house. The upscale apartment of Xuyen is located in a reputable project in District 9, Thu Duc City, Ho Chi Minh City, with an area of 50m2, valued at over 2 billion VND.

Xuyen shared that to achieve this milestone, it was not about earning a lot of money but about having a financial plan. Especially Xuyen started preparing everything while still in university.

Upon arriving in Ho Chi Minh City, the young man determined to own a house for long-term living and work. After initial research, Xuyen was surprised by the high and increasing real estate prices in Ho Chi Minh City. With a clear goal and prepared mindset, while still a student, Xuyen embarked on a personal financial planning process.

Therefore, in addition to saving money given by his mother while studying, Xuyen started taking on multiple jobs simultaneously, including teaching, waiting tables, digital marketing, assistant teaching… After a short period, he saved over 100 million VND.

With that initial capital, Xuyen continued to borrow nearly 100 million VND from the bank and opened a rental apartment project. Thanks to the reinvestment formula, after graduating, Xuyen had over half a billion VND.

Instead of choosing to travel, shop, or play games like his peers, Xuyen found joy in meditation, reading, yoga… These simple pleasures helped him ensure a relaxed spirit, while saving costs for his living needs.

“I work more than 10 hours a day, sleeping from 23:00 to 5:00. People often ask how I can take care of my health, because firstly, I’m doing what I love, so working is like playing for me. Secondly, from 5:00 to 9:00 in the morning, I always set aside time to enjoy and balance life…” – Xuyen further shared.

Peace of mind buying a house by mastering financial leverage

Ahead of schedule, at the age of 25, Xuyen started using his own capital to invest in real estate through buying and selling, profiting. After adding surplus from selling 2 apartments, he decided to buy his first apartment for himself.

“Because I had planned ahead, everything was within my control. Moreover, nowadays owning a house is quite easy because you only need 15-30% of the apartment’s value, the rest will be paid gradually according to the developer’s regulations.”

Currently, the young man is doing multiple jobs to optimize earning time. In addition, to reduce financial pressure of monthly payments, he has not moved into the apartment immediately but rented it out at 6 million VND/month.

Regarding the tips for owning a house before 30, Xuyen shared that young people should have a clear financial plan and always have backup plans to ensure that owning a house does not become a burden.

“For me, it’s not about how much money you earn, it’s about knowing how to manage finances and leverage economic opportunities. With this knowledge, you can confidently own a house before the age of 30…”, Xuyen said.