IEC promotes responsible attitudes and habits towards money management with holistic education campaign

24 May 2014

The Investor Education Centre (IEC) will hold “Money Management Start Young!” award presentation ceremony-cum-carnival at Plaza Hollywood in Diamond Hill on 24 and 25 May. This is the finale after a series of money management education activities held since October last year to instill good money management concepts and attitudes in young people.

Organised by the IEC and co-organised by the Hong Kong Monetary Authority, the “Money Management Start Young!” campaign is fully supported by the Institute of Financial Planners of Hong Kong, the Hong Kong Association of Banks, the Hong Kong Polytechnic University, School of Professional and Continuing Education of the University of Hong Kong, and the Vocational Training Council.

Through interactive learning, the campaign aims to educate young adults about the importance of developing good money management habits and attitudes. Education messages include responsible borrowing, smart use of credit cards, consumer and investor rights and responsibilities as well as financial planning learning from an early age. These were promoted through workshops, a multi-media competition and channels such as radio, newspapers, magazines and online platforms.

Ms Cecilia Ko, Acting General Manager of the IEC, said, “Money management is an important life skill. Everyone in particular the young adults should develop a good habit and equip themselves with skills on money management, learn about financial planning and make sound investment decisions to help achieve their financial goals in different life stages. We hope this carnival can promote all these messages to the general public and remind them of the benefits of conducting financial planning from young age.

Over 60 entries in the form of graphic designs and short videos were received in the “Money Management Start Young!” multi-media competition. The judging panel selected the champion, first runner-up, second runner-up and seven merit awards, as well as the most popular award voted by the public online. The winners will be awarded in the prize presentation ceremony and game booths will be set up in the carnival. During the event, popular singers and bands will play games and perform on stage, and share with the public about tips on smart money management and prudent investment.

From October 2013 to February 2014, over 400 young adults attended a total of six interactive workshops held in tertiary education institutions and community centres, where finance, creative experts and celebrities were invited to share tips on money management and creatives.

According to the research studies of the IEC including the IEC’s foundation research report Financial Knowledge and Capability in Hong Kong: A Foundation Study, published in June 2013 and the IEC Research: Knowledge, Attitudes and Behaviour towards Money and Debt Management, published in April 2014, Hong Kong people are reasonably capable in managing their money, but there are a number of areas where financial well-being and capabilities may require further improvements, such as developing regular budgeting and savings habits for better expense control. The public can visit the IEC website (www.hkiec.hk) to learn more about education messages, tools and resources regarding money management and investment to raise the personal knowledge and capability in finance and money management.

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