“One of the key lessons of the recent financial crisis is the importance of personal financial literacy. Besides improving their personal financial decision making, teaching students economic principles will help them as citizens understand and make choices about many of the critical issues confronting our nation.” Ben Bernanke, former Chairman of the US Federal Reserve Bank.
Many financial problems faced later in life can be avoided if people are provided with proper personal finance tools at an earlier age.
Despite this recognition, school curriculums continue to fall short in this area and most things personal finance are still learned, whether consciously or unconsciously, at home. Unfortunately, money remains a taboo discussion area for many parents.
The absence of such conversations may be for any number of reasons – cultural considerations, uncertainty as to where to start, worried about saying the wrong thing, or possibly a lack of confidence in their own handling of finances.
To help fill this important financial education development gap in Hong Kong, our programme is aimed at teaching children and teenagers financial responsibility rather than simply financial ability – that is, handling and managing money as opposed to just making it.
The focus is on helping them to understand the value of budgeting and saving money, and the consequences of overspending. The ultimate goal is to help develop lifelong money management skills.
For more details, please contact Spiritworth.Consulting@mail.com.