Edward Au speaks to Elvis Yu<\/p>\n
\t\t\tHong Kong children have been rated \u201cB-\u201d in financial literacy, indicating they generally possess basic financial knowledge and demonstrate proper spending attitudes.<\/p>\n
The findings come from a survey conducted by the Hong Kong Institute of Certified Public Accountants, which polled more than 2,000 primary four to secondary three students in May and June. <\/p>\n
The survey was the third of its kind, following earlier editions in 2020 and 2023.<\/p>\n
Half of the respondents said they now keep records of their savings and expenses, marking a 15 percent increase compared to 2020.<\/p>\n
Eighty-seven percent of the students polled reported being in the habit of saving, consistent with previous survey results.<\/p>\n
For the first time, the survey included a section to assess students\u2019 awareness of cybersecurity and fraud prevention. <\/p>\n
While most students rated themselves highly in their ability to identify fraud, over 190 reported falling victim to scams, with average losses amounting to HK$1,100. <\/p>\n
The highest financial loss in a single case reached HK$10,000, involving a student who was misled by a \u201czero-risk, high return\u201d fraudulent investment opportunity.<\/p>\n
The institute\u2019s president, Edward Au, said the rating was \u201cB\u201d in 2020, and stressed the need for young people to enhance their knowledge of financial security.<\/p>\n
\u201cWhen they do the self-evaluation, they believe they are fine, but based on the observations and those that have lost money because of fraudulent websites and also password control, we see that this is really a concern,\u201d he said. <\/p>\n
He said as e-payments are becoming the norm and create potential risks like fraud, it is getting more vital to include financial education at an early stage. <\/p>\n
\u201cWe hope by having this survey result, we can cooperate more closely with schools, with families and governments to enhance or strengthen the different education channels for students, because I think we can’t avoid that. This has actually become a part of our life,\u201d he said. <\/p>\n
Moses Wong, vice principal of S.K.H. St. Peter’s Primary School, also supports the idea that financial education should begin early.<\/p>\n
\u201cWe have various kinds of activities to give students a real taste of how to manage their own money…. We\u2019d like to have a detailed look at the report so we can adjust the curriculum and also the activities that we hold for the students,\u201d he said.\t\t<\/p>\n","protected":false},"excerpt":{"rendered":"Edward Au speaks to Elvis Yu Hong Kong children have been rated \u201cB-\u201d in financial literacy, indicating they…\n","protected":false},"author":2,"featured_media":57444,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[14],"tags":[138,246,111,139,69,244,245],"class_list":["post-57443","post","type-post","status-publish","format-standard","has-post-thumbnail","category-personal-finance","tag-business","tag-finance","tag-new-zealand","tag-newzealand","tag-nz","tag-personal-finance","tag-personalfinance"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/57443","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/comments?post=57443"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/posts\/57443\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media\/57444"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/media?parent=57443"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/categories?post=57443"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/nz\/wp-json\/wp\/v2\/tags?post=57443"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}