Making money count

PUBLISHED : Wednesday, 18 July, 2012, 12:00am
UPDATED : Wednesday, 18 July, 2012, 12:00am


Foreign currency tops the list as the favourite way local students would invest their money, according to a survey on secondary school students' attitudes and knowledge of financial management.

Citi Youth Investment Education surveyed 8,500 students in more than 200 schools.

They found that, after foreign currency, students rated property and stocks as their next two top investment choices.

The survey also looked at students' behaviour in terms of financial management. About 60per cent of the students had HK$500 or more monthly pocket money which they mainly spent on necessities such as food, clothes, accessories and tutoring classes.

Some 95 per cent of these students saved some of their pocket money, with about 50 per cent using savings accounts and putting the money in piggy banks at home.

About 60 per cent of those surveyed thought financial education should start in primary school, when children started getting pocket money, so they could learn how to save and use it wisely.

'We are pleased to learn that most students recognise the important value of financial management in helping them achieve a more secure future and reach long-term goals,' said Shengman Zhang, Citi's country officer for Hong Kong.