IFEC and the Home and Youth Affairs Bureau jointly launch
Youth Financial Education Programme at youth hostels
24 May 2024
The Investor and Financial Education Council (IFEC), in partnership with the Home and Youth Affairs Bureau (HYAB), have launched the Youth Financial Education Programme. The programme aims to enhance financial knowledge of the young people and induce the right attitude and behaviour for them to manage their personal finances and investment, helping them to achieve their financial goals, and in turn, realise their personal dreams.
On a pilot basis, the programme will be implemented at the five youth hostels under the Youth Hostel Scheme to help young people with developing an effective financial management plan.
Speaking at the kick-off ceremony of the Youth Financial Education Programme, Ms Alice Mak, Secretary for Home and Youth Affairs, The Government of Hong Kong Special Administrative Region, said that the HYAB and the IFEC will introduce a series of online resources and activities through the programme in the coming months, including story-telling sessions on financial planning and interactive learning activities. The programme aims to help young people customise their own financial plans and goals, so that they will develop good habits for managing personal finances and investment. She said she hopes that young people would utilise the financial education resources to actively enhance their knowledge, attitude and ability in personal financial management during their stay in the youth hostels, and engage in personal financial planning as well as life planning.
IFEC General Manager Ms Dora Li said, “Financial planning is an essential life skill for young people who are the future of our society. Through the Youth Financial Education Programme jointly organised with HYAB, we hope to guide young people in applying financial planning knowledge in real-life scenarios to help them achieve their aspirations and empower them to take charge of their personal finances.”
The programme will span a year and encompass three main themes: Financial Planning, Investment Basics, and Credit and Risks, covering investment risks, opportunities and planning, wealth management, as well as fundamental credit concepts. The programme will be delivered in fun and interactive ways by speakers with motivational life experiences to share their own stories. Regular digital newsletters and interactive learning activities will also be provided to enable the young people keep abreast of the latest investor and financial education information and tools.
IFEC will continue to enhance investor and financial education for young people in Hong Kong and consider extending similar financial education programme following a programme review.
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