Luxury brands, trendy mobile phones . . . empty wallets

For many Hong Kong teenagers growing up in a city awash with luxury brands and the latest must-have mobile phones, putting money away for a rainy day may not be a priority.

However, as awareness of the importance of financial education grows, more students are getting the opportunity to learn how to manage their finances.

Sponsored by the Citi Foundation and organised by the Tung Wah Group of Hospitals Healthy Budgeting Family Debt Counselling Centre, the Smart Kid Financial Education Experiential Programme is a one-day camp where students learn about real-life financial challenges.

Targeted at students in Form Three and above, the programme aims to provide students with advice on personal and financial planning.

During the one-day camp, students are confronted with real-life situations where they must make choices about their education, work and unemployment, consumption and savings, investment and entertainment.

About 380 students from 38 secondary schools participated in the camps in the 2007-08 school year, with the last camp held in April. The next camp will be held on July 5, followed by another on October 11.

After completing the programme, students become ambassadors who help spread the message to their peers. Each school team is expected to share what they have learnt with at least 300 of their schoolmates within two months after they return to school.