IEC announces the launch of
Hong Kong's inaugural Money Month

Some 100 supporting organisations and ambassadors join hands to advance financial education in Hong Kong Launch of Money Learning Directory to provide a one-stop financial education resource guide

12 January 2017

The Investor Education Centre (IEC) today announced the launch of Hong Kong's first territory-wide financial education campaign "Money Month", an initiative under its cross-sectoral collaboration platform Hong Kong Strategy for Financial Literacy (HKSFL). The campaign brings together some 100 supporting organisations and 12 ambassadors to encourage members of the public to learn and talk more about money management, and ultimately make informed and responsible financial decisions.


The inaugural Money Month, with its vision to promote Hong Kong as a city that values financial well-being, will take place from 18 February to 18 March 2017. Entitled "Let's Talk about Money", the month-long cross-sectoral financial education campaign features a wide range of financial education activities offering money management resources, tools, tips as well as fun learning experiences provided by supporting organisations from the government, finance, education, community and media sectors. Ambassadors from different walks of life also help raise awareness of the benefits of financial education through sharing their personal stories and experiences.


Dr Kelvin Wong, Chairman of the IEC, said, "As an organisation dedicated to improving financial literacy in Hong Kong, the IEC fully supports Hong Kong Money Month via its independent and impartial financial education platform "The Chin Family" as well as its role as the Secretariat of the HKSFL. During the period, we will organise major activities such as public education campaign, weekend education fair and financial literacy forum, support Hong Kong's first Teacher Award for Business and Financial Education; as well as provide free, one-stop resource guide to financial education initiatives "Money Learning Directory" and promotion collaterals to inspire and facilitate public and stakeholder participation. Everyone can play a role in contributing to financial well-being of individuals and society as a whole."


Mr TC Chan, Chairman of HKSFL Steering Committee and IEC Executive Committee Member said, "We are very glad to announce the launch of Hong Kong's inaugural Money Month which celebrates concerted collaborative actions. Through the Money Month campaign, various sectors will work together to help members of the public plan and manage their finances with a diverse range of initiatives and resources, thereby enhancing the total impact and reach of financial education; as well as the overall financial literacy of Hong Kong."


"A financially literate public will not only contribute to the stability and robustness of the economy, but also alleviate the financial burden to society over the long term. In view of the increasing complexity of financial products and services and the rapid ageing of the Hong Kong population, the need for raising financial literacy has become more urgent than ever," Mr Chan added.


According to a 30-economy comparison study coordinated by the OECD International Network on Financial Education, Hong Kong ranked fifth in terms of overall levels of financial literacy, largely driven by top scores on financial knowledge (1st). However, scores on financial attitude (29th) and behaviour (8th) were low as Hong Kong people are more inclined to short-termism.


Mr David Kneebone, General Manager of the IEC, said: "The survey shows that Hong Kong is undoubtedly more financially literate than many other countries or economies. Hong Kong people of all ages, in particular the younger generation, need to undertake long-term financial planning. Action should include regular tracking of expenses to manage discretionary spending, household budgeting, having good saving habits and setting clear financial goals for the future. The Money Month campaign provides a good and engaging platform to raise financial knowledge, and encourage a healthier attitude and behavioural changes in money management and financial planning."


An education campaign on Hong Kong Money Month will roll out from 13 January 2017, complemented by pro-bono publicity support and activities by supporting organisations. One of the key highlights of Hong Kong Money Month is the weekend education fair, which will be held from 18 to 19 February 2017 at Plaza Hollywood, Diamond Hill, Kowloon. The Money Month Education Fair will provide fun learning experiences on various money management topics – from budgeting, money saving and spending, investing to debt management, financial and retirement planning through a diverse mix of games, talks, performances and tip-sharing by financial education practitioners, market experts, HKSFL Ambassadors and artists such as Alfred Hui and Bob Cheung.


Members of the public can visit the Hong Kong Money Month website (www.moneymonth.hk) and Money Learning Directory (https://www.hksfl.hk/money-learning-directory/public/en/index.html) to learn more about the campaign and utilise free and comprehensive resources and programmes on money matters to plan ahead and achieve their life goals. They can also keep track of key activities of Hong Kong Money Month 2017, share tips and get free tickets to join investment talks via The Chin Family's Facebook page, and may be rewarded with prizes which include one-on-one financial planning consultations.



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