This study analyzes the micro-level determinants of household financial portfolio choices in rural Vietnam. It uses data collected from 1,115 households in the provinces of Ha Tinh and Dak Lak, Vietnam. The multivariate probit model is employed to investigate the determinants affecting the choices of five financial services: credit, savings, lending, investment, and insurance. The regression results show that the household head’s education, risk attitude, number of impaired members, participation in socio-political organizations, self-employment, and shock losses are important determinants of financial portfolio choices. We also find that financial services are not entirely independent but interconnected to a certain degree. The findings offer important insights into the driving factors influencing household decisions regarding the use of financial instruments. They establish the foundation for developing more impactful policies to improve household finance.