Hongkongers deserve a financial education that empowers them
In March, the
Investor and Financial Education Council launched 'Hong Kong Money Month 2025', aiming to strengthen financial resilience and combat financial fraud among the public.
Despite Hong Kong's status as a global financial hub, a significant portion of its population lacks essential
financial literacy . Personal finance is still largely absent from our school curriculum. We teach students algebra and essay writing but rarely show them how to read a bank statement or plan a monthly budget. While some non-governmental organisations offer workshops, they're not systematically embedded in our education system.
Migrant domestic workers , who play a crucial role in Hong Kong's economy, also face financial literacy challenges. A 2024 survey by Enrich HK and the University of Hong Kong found that 62 per cent of migrant domestic workers are 'financial beginners', highlighting the need for targeted financial education programmes.
I remember getting my first part-time pay cheque during secondary school in Hong Kong. Like many students working weekends at a chain store in Mong Kok or Causeway Bay, it felt empowering until I saw how little I understood about what was actually on the payslip.
Mandatory Provident Fund (MPF) deductions? Tax codes? I didn't ask. I was just happy to be earning. That moment stuck with me.
We often call Hong Kong a global financial centre – and it is. However, financial knowledge doesn't trickle down just because skyscrapers go up. For many working-class families, navigating credit card bills, rent hikes or MPF choices can be deeply confusing. Being surrounded by finance doesn't mean you've been taught how to handle your money.
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