Your money: Yu Feixia

PUBLISHED : Wednesday, 07 February, 2007, 12:00am
UPDATED : Wednesday, 07 February, 2007, 12:00am

Age: 16

School: Pui Kiu Middle School

Young Post: Do you have any savings?

Yu: I get about HK$1,000 a month from my parents and usually save HK$200.

I also get lai see during Lunar New Year.

YP: How do you spend your money? Do you have any savings plans?

Y: I spend it on meals, transport, clothes, books and entertainment.

I didn't have any savings plans until I attended a talk on 'Personal Economics' last year.

Before that, I just saved what I had left each month.

After attending the talk, I learned that I should set a budget and stick to it.

I could easily run out of money the way I was saving before. Now I can save more.

YP: Have you made any investments?

Y: My parents have, and they've taught me how to invest in funds. But I don't know much about the stock market.

I once invested in a virtual stock market.

Each participant was given HK$100,000 to buy stocks.

It was fun as there was no pressure to make money.

Besides, I'm young. Even if I lose money playing the stock market, I can always recover my money in future.

YP: How did you decide which stocks to buy in the virtual market?

Y: Before the game, I studied the stock market, financial news and websites.

I researched a few stocks - read company annual reports, followed the trends and gathered up-to-date information.

In the end, I made a little money.

YP: What have you learned from the game?

Y: We should make an in-depth study of each stock before we invest in it.

We should not just look at stock prices. They fluctuate and may mislead us.

After attending the talk and taking part in the game, I've learned how to save and what to do with my savings.