As expressed by [ CITATION Mie15 \l 1033 ] Failure in managing an individual’s finance can lead serious long-term consequences not only for that person but also for enterprise, society. Hence, personal financial management behavior has received an increasing concern of researchers in recent years. In the study by Deacon and Firebaugh (1988), personal financial management is defined as the set of behaviors performed

regarding the planning, implementing, and evaluating involved in the areas of cash, credit, investments, insurance and retirement and estate planning. In line with this, Xiao and Dew (2011) take into account the personal financial management with regard to cash flow, credit, saving and investing management. There are many studies in Vietnam in which only one dimension of financial management behavior has been examined, e.g. Credit card (Nguyen and Lai, 2013; Vuong and Nguyen, 2013) or saving (Gries and Ha, 2014). However, it is important to measure many different areas of financial management behavior, as each area plays an important role (Xiao and Dew, 2011).