Hong Kong Financial Competency Framework
The Hong Kong Financial Competency Framework (FCF) identifies a comprehensive set of knowledge, skills, attitudes, motivations and behaviour required for financial literacy. It presents the financial competencies that a person at different life stages should ideally possess.
The FCF can be used by different organisations (such as government bodies, policymakers, financial institutions and education providers) that are interested in the provision of financial education. However, the FCF is not a curriculum and does not prescribe any particular approaches to financial education. It is up to the professional judgement of the various organisations to decide how to use the FCF to design new personal finance units or courses or integrate specific concepts into existing initiatives.
Development of the Hong Kong Financial Competency Framework
The IEC appointed a research team from the Hong Kong Institute of Education to develop the FCF. It was developed with the advice and feedback from a working group consisting of financial education providers, academics and school educators.
To ensure the FCF was fit for use and could be widely adopted in Hong Kong, views from the public were also sought in a consultation process. The details of the consultation can be found in the Hong Kong Financial Competency Framework Consultation webpage.
Traits of a money smart child
As a child grows, he/she develops different financial behaviours. We have identified 20 things that a child should be doing at different ages in order to be financially smart. These should help identify good habits that a child still needs developing. For more details