Forget the confectionery: Hong Kong children more likely to save ‘lai see’ packet haul, survey says
- More than three-quarters of children in Hong Kong are actively saving into bank accounts, according to a survey by AXA Investment Managers
- Children between 8 and 15 enjoy an average weekly income of US$23
Instead of buying confectionery or toys, Hong Kong’s next generation is focused on the future as they count their annual haul from “lai see” packets they receive from family and friends during Lunar New Year, according to a survey by AXA Investment Managers.
More than three-quarters of children in Hong Kong are actively saving into bank accounts and enjoy a weekly income of HK$180 (US$23) on average, the survey found.
The city’s children receive about HK$9,400 a year in pocket money either as gifts or incentives for doing chores, said AXA Investment Managers, a unit of the insurer and asset manager AXA Group.
“It is heartening to see that today’s children in Hong Kong are financially engaged from an early age and keen to learn more about money – and it seems they are even thinking long-term,” Terence Lam, head of sales and marketing in Asia for AXA Investment Managers, said.
“We believe that financial education needs to start early when habits are being formed, with no better place to learn than at home.”
