Teenagers and Money (a survey from the “Rich Kid, Poor Kid” programme)

Teenagers and Money (a survey from the “Rich Kid, Poor Kid” programme)

Presented by: Susanna Chiu

Date: 22 June 2005

2

Table of Contents

Section 1: Context of the study

1.1 Objectives 4

1.2 Methodology 5

1.3 Sample Profile 6-7

Section 2: Executive Summary 8-10

Section 3: Attitudes to wealth and money summary 12-13

3.1 General attitudes charts 14-18

3.2 Expectations of future prosperity charts 19-21

3.3 HK$10,000 windfall charts 22-24

3.4 Sources of financial advice charts 25-27

Section 4: Expectations of wealth and income summary 29-30

4.1 Amount of money needed to be wealthy charts 31-32

4.2 Age when believe will be wealthy charts 33-34

4.3 Monthly salary needed to be comfortable charts 35-36

4.4 Age anticipate earning comfortable salary charts 37-38

4.6 Hours willing to work to earn comfortable salary charts 39-40

Section 5: Spending and saving patterns summary 42-43

5.1 Sources of money charts 44-46

5.2 Mean monthly income from all sources charts 47-50

5.3 Proportion of income from each source charts 51-53

5.4 Spending and saving patterns charts 54-59

5.5 Summary of income and expenditure charts 60

5.6 Extrapolations to HK economy charts 61

Section 6: Credit cards summary 63

6.1Credit card ownership charts 64

Section 7: Tertiary education and employment summary 66

7.1 Proportion wanting to go to university 67

7.2 Preferred Occupation 68-70

Appendix: Questionnaire 72-74

3

Section 1: Context of study

4

1.1 Objectives

In May 2005, the Hong Kong Institute of Certified Public Accountants commissioned Market Insights Group to undertake a study of Hong Kong youth’s attitudes to money. The objectives of the study were:

– To obtain data about 15 to 18 years olds and their money - where they get their money and what they do with it, where they obtain advice, how they use credit cards, how much do they spend versus save.

– To understand attitudes to money, how important it is, their expectations on future earnings, how much money they believe they need to be wealthy.

– To determine the importance of money relative to other aspects of life. For example, how important is money relative to such things as having time for leisure and personal pursuits, family, what is the meaning of money, etc.

This presentation provides charted results of the research study.

5

1.2 Methodology

• A total of n=400 surveys were undertaken in Hong Kong between May 25 and June 5. The maximum sampling error associated with this sample size is + 4.9% at the 95% confidence interval. That is, our sample can be taken as a true estimate of population with a margin of error of + / - 4.9%.

• Interviews were undertaken face to face amongst a sample of 15 to 18 year old Hong Kong Chinese youths. The sample was stratified so that 50% of respondents were aged 15 to 16 years (n=200) and 50% were aged 17 – 18 years (n=200). Respondents were advised that the study was being undertaken on behalf of the Institute. Half were male, half female.

• The sample data was post-weighted to Hong Kong Census and Statistics Department age and sex statistics 2004 provisional data to be representative of the population of 15 to 18 year olds in Hong Kong.

• Professional Market Insights Group interviewers intercepted respondents at various locations throughout Hong Kong Island, Kowloon and the New Territories and requested their participation in the survey, which was then undertaken on the spot. The survey duration varied between 8 and 10 minutes.

• Data was collected across the following locations:

– Hong Kong Island (n= 80) Causeway Bay, Wanchai, Aberdeen,

– Kowloon (n= 120), Mong Kok, Kwun Tong, Tsim Sha Tsui, Wong Tai Sin,

– New Territories (n=200), Shatin, Tao Po, Sheung Shui, Tsuen Wan, Tuen Mun, Yuen Long, Tseung Kwan O.

6

1.3 Sample profile – age and gender

0

100

200

300

400

Female 200 200

Male 200 200

15 to 16 years 17 to 18 years

Unweighted

0%

10%

20%

30%

40%

50%

60%

Female 25% 24%

Male 26% 25%

15 to 16 years 17 to 18 years

Weighted

7

1.4 Sample profile – Family situation

98%

0%

1%

1%

Live at home with parents who are married Live at home with single parents

Live with relatives Live away from home

8

Section 2: Executive summary

9

2.0 Summary of key findings in the survey

• At this stage of their lives, 15 – 18 year olds are happy to spend time doing what they want to do rather than earning money. However, most wish they were better at saving money, particularly females and the majority agree money is important to them right now. Whilst they feel it is important for young people to work, relatively few (18%) are actually working right now. More than three quarters agree it is okay to rely on their parents for money at their age.

• Looking to the future, most 15 – 18 years olds want to attend university (89%) and their most likely desired profession on entering the workforce is in ‘tourism and hospitality’ (15%), particularly for females.

• Around half say they enjoy saving money more than spending it, and indeed, most (74%) are putting away some money each month. On average, 24% of mean income is being saved, with the rest spent mostly on entertainment, clothes and goods. There is practically no investment in the stock market amongst people this age in Hong Kong. Most of the average $325 saved each month is simply for a rainy day or saving for a specific item.

• Only half feel they are good at managing their money, and a similar proportion tend to spend money without thinking about their finances. This perhaps points towards an opportunity for enhanced education and financial advice. They mostly turn to parents for advice, although older teens are more willing to ask their friends. Relatively few (18%) seek financial counsel from their school.

10

2.0 Summary of key findings in the survey

• The mean income of 15 - 18 year olds in Hong Kong is $1,356, with the majority (95%) relying on parents for their cash. Parents, on average, give their teens an allowance of $924 each month – males receive more on average than females. The 18% of respondents working part-time or full-time have an additional $2,704 to spend each month. The bad news for parents, despite their generosity, is that only 1% said they would give a $10k windfall to their parents in full (60% said they would give some to their parents). Encouragingly, almost three quarters of teens (73%) said they would save at least some for the future, although the same amount said they would also spend some on entertainment and having a good time. Less than one in five said they would give any of the money to charity.

• Hong Kong teens are generally optimistic. Most teens (58%) believe Hong Kong will have a more prosperous future, although around 1 in 10 feel it will be less prosperous. Females tend to be more optimistic than males. The average amount considered necessary to be considered wealthy is $10.9 million and four in five believe they will grow wealthy with around a third believing they will be wealthy by the age of 36. This is significant given that around three quarters agree it is important to earn a lot of money to be happy in life.

• More pragmatically, the average monthly salary that teens think is needed to be comfortable is just under $20,000 and almost all believe they will attain that income, by the time they are 27 years old. Consistent with Hong Kong's reputation as a hard working city, the next generation of workers is willing to work 48 hours a week on average just to be comfortable.

11

Section 3: Attitudes to wealth and money

12

3.0 Summary of attitudes to money (1)

• Most 15 – 18 year olds believe money is important to them right now (82% agree, 21% strongly, 18% disagree). Just under three quarters (73%) also agree that it is important to earn a lot of money to be happy in life). This life-view is consistent with optimism about their future wealth – with 75% believing they will be wealthy when they are older.

• A third ‘strongly agree’ that they wish they were better at saving money and 90% in total indicate they wish they were better at saving money. This sentiment is strongest amongst females (94% agree). However, this desire conflicts with a belief that they’d rather spend time doing things they want rather even if it means having less money (85% agreed with this, 25% strongly).

• Such conflicts are also evident in how money is obtained. Whilst 82% believe it is important for young people to work (29% strongly), a similar proportion, 79% also believe it is okay to rely on parents for money at their age.

• Teens tend to fall into two camps – spenders and savers. Savers, who agree they enjoy saving money more than spending it (47%), tend to be older (17 – 18 years) are more likely to believe they are good at managing their money and that it is important for young people to work. Those who enjoy spending more than saving on the other hand, agree they tend to spend money without thinking about it and spend time doing the things they want, even if it means less money.

• As teens enter their matriculation year (17 – 18 years old), their attitudes change – they agree more strongly that it is important for young people to work, are more likely to agree they are better at managing their money, and are less likely to agree they spend money without thinking of their finances. 17 – 18 year olds are less agree that relying on parents for money is okay compared to 15 – 16 year olds.

13

3.0 Summary of attitudes to money (2)

• The majority of 15 – 18 year olds are optimistic about Hong Kong’s future prosperity. Forty-nine percent believe that Hong Kong will be somewhat more prosperous in the future and 10% believe Hong Kong will be much more prosperous in the future (net agree 59%).

• Those who are pessimistic about Hong Kong’s future prosperity (14%) are more likely to be male (19%) and have lower average monthly incomes ($1,062 versus $1,485 amongst those who are optimistic).

• Respondents were asked what they would do with a $10,000 windfall. Relatively few (13%) would spend it on any one thing only (5% only said they would save all of it for the future and 4% said they would invest it all in the stock market). Around three quarters would spend at least some on entertainment / having a good time (72%). Three out of five (60%) would give some to the parents, but only 1% said they would give it all to their parents. Three in five also said they would spend some on an item they always wanted. Relatively few (33%) said they would spend some on a holiday and even less (20%) said they would donate some or all of the money to charity. Older teens (17 – 18 year olds) were more likely to say they would save some of the money for the future (84%) than those aged 15 – 16 years (72% would save at least some of it).

• Most youths get their financial advice from parents (75%) and around a third (36%) also get advice from their friends. Relatively few seek advice from a source at school (18%). Older teens (17 – 18 years) are more likely to obtain advice from their friends (44%) than are teens aged 15 – 16 years (28%).

14

3.1.1 General attitudes to money and wealth (1)

2%

2%

4%

5%

7%

19%

25%

43%

45%

46%

57%

49%

44%

40%

37%

19%

24%

10%

10%

9%

3%

0%

0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%

I think I will be wealthy whenI am older

It is important to earn a lot ofmoney to be happy in life

I enjoy saving my moneymore than spending it

I am good at managing mymoney

I tend to spend moneywithout thinking too much

about my finances

Strongly disagree Somewhat disagree Somewhat agree Strongly agree Don’t know

Q1a. First of all, I would like to find out your opinions about money, life and wellbeing? I will read out a statement and I would like you to tell me if you agree or disagree with it. First, do you agree or disagree with that…READ OUT STATEMENT [ROTATE LIST]. Is that strongly agree/disagree or somewhat agree/disagree?

Base: All respondents (n=400)

15

3.1.1 General attitudes to money and wealth (2)

1%

1%

1%

1%

2%

10%

14%

17%

17%

20%

57%

59%

53%

61%

56%

32%

25%

29%

21%

23%

0% 10% 20% 30% 40% 50% 60% 70% 80% 90% 100%

I wish I was better at savingmoney

I'd rather spend time doingthings I want, rather than

working even if I have lessmoney

It is important for youngpeople to work

Money is important to meright now

Its okay to rely on yourparents for money at my age

Strongly disagree Somewhat disagree Somewhat agree Strongly agree Don’t know



16

3.1.2 General attitudes to money



StatementNet

DisagreeNet

Agree

I wish I was better at saving money 10.3% 89.7%

I’d rather spend time doing things I want, rather than working even if I have less money

15.5% 84.5%

It is important for young people to work 18.0% 82.0%

Money is important to me right now 18.4% 81.6%

Its okay to rely on your parents for money at my age 21.7% 78.3%

I think I will be wealthy when I am older 21.3% 75.4%

It is important to earn a lot of money to be happy in life 27.5% 72.5%

I enjoy saving my money more than spending it 46.6% 53.4%

I am good at managing my money 50.5% 49.5%

I tend to spend money without thinking too much about my finances 53.4% 46.6%

Net agree / disagree by statement

17

3.1.3 Net agreement (males vs females)



85% 83% 85%80%

76% 74% 74%

50% 50% 49%

94%

86%

79%84%

80%77%

57%

49%44%

71%

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

I wish I wasbetter at saving

money

I'd rather spendtime doing thethings I wantrather than

working, even ifI have less

money

It is importantfor young

people to work

Money isimportant to me

right now

It's okay to relyon your parentsfor money at my

age

I think I will bewealthy when I

am older

It is important toearn a lot ofmoney to behappy in life

I enjoy savingmy money morethan spending it

I am good atmanaging my

money

I tend to spendmoney without

thinking toomuch about my

finances

Males Females

Sig. different @ 95% confidence interval

18

88%86%

76%78%

85%

70% 71%

50%

43%

53%

91%

83%88%

86% 86%

74%

57% 56%

40%

71%

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

I wish I wasbetter at saving

money

I'd rather spendtime doing thethings I wantrather than

working, even if Ihave less money

It is important foryoung people to

work

Money isimportant to me

right now

It's okay to rely onyour parents formoney at my age

I think I will bewealthy when I

am older

It is important toearn a lot ofmoney to behappy in life

I enjoy saving mymoney more than

spending it

I am good atmanaging my

money

I tend to spendmoney without

thinking too muchabout myfinances

15 - 16 years 17 - 18 years

3.1.4 Net agreement (by age)




19

2%

12%

28%

49%

10%

0%

10%

20%

30%

40%

50%

60%

Much less prosperousin the future

Somewhat lessprosperous in the

future

The same level offuture prosperity as

today

Somewhat moreprosperous in the

future

Much moreprosperous in the

future than to

3.2.1 Attitudes towards Hong Kong’s future prosperity

Q2. Which of the following best describes how you feel about Hong Kong’s future prosperity for people who will live and work in Hong Kong?Hong Kong will be much less prosperous in the futureHong Kong will be somewhat less prosperous in the futureHong Kong will have the same level of future prosperity as todayHong Kong will somewhat more prosperous in the futureHong Kong will be much more prosperous in the future than todayDon’t know / Refused


Net less

prosperousNet more

prosperous

Total 14% 58%

20

3%

15%

29%

45%

8%

1%

7%

28%

53%

11%

0%

10%

20%

30%

40%

50%

60%



future

The same level offuture prosperity as t


future


future than to

Males Females

3.2.2 Attitudes towards Hong Kong’s future prosperity (by gender)



Net less

prosperousNet more

prosperous

Male 19% 53%

Female 8% 64%

Average income HK$1,062 HK$1,485


21

3.2.3 Attitudes towards Hong Kong’s future prosperity (by age)



Net less

prosperousNet more

prosperous

15 – 16 years 14% 58%

17 – 18 years 13% 59%

3%

11%

28%

48%

10%

1%

12%

28%

49%

9%

0%

10%

20%

30%

40%

50%

60%



future

The same level offuture prosperity as t


future


future than to

15 - 16 17 - 18


22

5% 1% 1% 1% 0% 1%

73%72%

60% 60%

33%

19%

22%27%

39% 39%

67%

80%

96%

4% 0%0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

Save it for thefuture

Spend it onentertainment /having a good

time

Give it to myparents

Buy somethingI've always

wanted like anappliance orelectronics

Go on a holiday Donate it tocharity

Invest in stockmarket

All Some None

3.3.1 What they’d do with a HK$10,000 windfall

Q10a. If someone gave you HK$10,000 to spend as you liked on anything, which of the following things would you do with the money. READ OUT, MULTIPLE RESPONSE


Multiple response

23

77%74%

59%63%

31%

18%

5%

78%

72%

63%59%

35%

21%

2%

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%



time

Give it to mypartents





Males Females

3.3.2 What they’d do with a HK$10,000 windfall (males vs females)




Multiple response

24

72% 70%64%

59%

31%

22%

2%

84%

76%

62%

35%

16%

5%

58%

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%



time

Give it to myparents





15 - 16 years 17 - 18 years

3.3.3 What they’d do with a HK$10,000 windfall (by age)




Multiple response

25

3.4.1 Sources of financial advice

75%

36%

18%

6% 5% 4% 4% 2%

11%

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%P

are

nts

Fri

en

ds

Sc

ho

ol

Te

lev

isio

n

Ne

ws

pa

pe

r

Ma

ga

zin

es

Inte

rne

t

Oth

er

Do

n't

ge

ta

dv

ice

Q3. Where do you get advice about money and how to manage it? DO NOT READ OUT


Multiple response

26

3.4.2 Sources of financial advice (by gender)

75%

35%

20%

5% 6%3% 2% 3%

12%

38%

16%

6% 5% 5% 5%2%

10%

75%

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%P

are

nts

Fri

en

ds

Sc

ho

ol

Te

lev

isio

n

Ne

ws

pa

pe

r

Ma

ga

zin

es

Inte

rne

t

Oth

er

Do

n't

ge

ta

dv

ice

Males Females



Sig. different @ 95% confidence intervalMultiple response

27

3.4.3 Sources of financial advice (by age)

72%

28%

18%

1%5% 3% 2% 2%

13%

78%

44%

17%

8%5% 5% 5% 3%

9%

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%P

are

nts

Fri

en

ds

Sc

ho

ol

Te

lev

isio

n

Ne

ws

pa

pe

r

Ma

ga

zin

es

Inte

rne

t

Oth

er

Do

n't

ge

ta

dv

ice

15 - 16 years 17 - 18 years




28

Section 4: Expectations of Wealth and income

29

4.0 Summary of expectations of wealth and income (1)

• Overall, there is great variation in the perceived amount that people need to be wealthy, with the amount ranging from ten thousand to 10 billion Hong Kong dollars. On average, 15 – 18 year olds believe that $10.85 million is needed to be considered rich, although the most commonly cited amount is much lower, $1,000,000. Forty one percent believe more than this amount is required and 14% said at least $10 million is the requisite figure.

– Males believe more is required than females ($12.8 million vs. $8.7million) – 17-18 year olds believe more is required than 15-16 year olds ($12.6 million vs. $9.0

million) • Consistent with their overall level of optimism, 86% of the sample believed they will achieve

‘wealth’. The mean age they believe wealthy will be obtained is 36 years. Two thirds believe they will be wealthy (according to their own definition) by the time they are 44 years. An even more optimistic minority of 14% believe they will become wealthy before they turn 25 years of age.

– Males believe, an average, that it will take them longer to become wealthy than females (37 years vs. 34 years). This is consistent with their view that more money is needed to be wealthy.

– Similarly, older respondents, set their expectations back a little compared to 15 – 16 year olds, believing on average that they will 38 years old when they become wealthy, vs. 34 years for the younger group. It is interesting that an additional two years of life results in an additional 4 years of perceived time needed to become wealthy. One presumes that this resetting of expectations increases with age!

30

4.0 Summary of expectations of wealth and income (2)

• Respondents were also asked what monthly salary they thought would be necessary to be considered comfortable. It is apparent that teens are both more consistent in their views and more pragmatic when it comes to earning a monthly salary compared to their views on achieving wealth. The average salary thought needed to be comfortable was $19,200 a month. The most commonly cited figure was $20,000 a month. This compares to the current Hong Kong average monthly earnings from the 2001 census of $18,705.

– Older respondents (aged 17 – 18 years) set their sights higher than 15 – 16 year olds. The mean salary to be comfortable amongst the former group was $22,100 compared to $19,200 amongst the latter.

– Males had slightly higher perceptions of what constitutes a comfortable sales than females, although this result was not a statistically significant difference ($21,900 vs. $19,200).

• Nearly all respondents believed that they would earn a comfortable salary (98%). Around half (51%) believe they will earn this salary by the age of 25 years and the mean age that teens think they will earn a ‘comfortable’ salary is 27 years. The most commonly cited age was 25 years.

• Respondents were also asked to indicate how many hours they would be willing to work to earn a ‘comfortable’ wage. Consistent with Hong Kong’s renowned work ethic, 71% percent of respondents were willing to work at least 40 hours, and the mean number of hours was 48. One quarter said they would work more than 50 hours to earn a ‘comfortable salary’. These views were consistent amongst males and females and in both age categories.

31

25%

33%

27%

14%

100%

74%

41%

9%

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

< $100k $100 -$1,000k $1,000k - $10,000k > $10,000k

Pe

rce

nta

ge

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

Cu

mu

lati

ve

Pe

rce

nta

ge

% Cum.

4.1.1 Amount of money needed to be wealthy

Q4a. How much money do you think you would need to be considered rich? IF UNSURE, ASK FOR BEST ESTIMATE

[ ] enter best estimate (HK$) 1Don’t know 97Refused 99Base: All respondents (n=400)

Mean HK$10.85 million*Median HK$1.5 millionMode HK$1.0 million

* Note 3 outlying cases removed in calculation of mean (exceeded HK$500,000,000).

32

4.1.2 Amount of money needed to be wealthy (by gender and age)

Group Mean Median Mode

Males HK$12.8 Million HK$800k HK$1 million

Females HK$8.7 million HK$1 million HK$1 million

15 - 16 years HK$9.0 Million HK$500k HK$1 million

17 - 18 years HK$12.6 million HK$1 million HK$1 million


Q4a. How much money do you think you would need to be considered rich? IF UNSURE, ASK FOR BEST ESTIMATE

[ ] enter best estimate (HK$) 1Don’t know 97Refused 99Base: All respondents (n=400)


33

4.2.1 Age think will achieve wealthy status

86%

14%

Will be that rich Will not be that rich

Q4b. Do you think you will be that rich one day? IF YES, how old do you think you will be when you are that wealthy? IF UNSURE, ASK FOR BEST ESTIMATE.[ ] years of age 1Don’t know 97Won’t ever be that wealthy 98Refused 99

14%

24%28%

18%14%

84%

66%

38%

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

< 25 years 26 - 34 years 35 - 44 years Over 45 years Won't be thatwealthy

Pe

rce

nt

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

Cu

mu

lati

ve

pe

rce

nt

% Cum.Mean 36 yearsMedian 35 yearsMode 30 years Base: All respondents (n=400)

34

4.2.2 Age think will achieve wealthy status (by gender and age)


Males 37 years 34 years 30 years

Females 34 years 32 years 30 years

15 - 16 years 34 years 30 years 30 years


Q4b. Do you think you will be that rich one day? IF YES, how old do you think you will be when you are that wealthy? IF UNSURE, ASK FOR BEST ESTIMATE.[ ] years of age 1Don’t know 97Won’t ever be that wealthy 98Refused 99

Base: All respondents (n=400)Sig. different @ 95% confidence interval

35

16%

32%

44%

9%

48%

92%

100%

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

< $10k $10k - $19.9k $20k -$39.9k $40k +

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

% Cum.

4.3.1 Monthly salary needed to be comfortable

Q5a. What monthly salary do you think would make you comfortable? IF UNSURE, ASK FOR BEST ESTIMATE[ ] enter best estimate (HK$) 1Don’t know 97Refused 99Base: All respondents (n=400)

Mean HK$19.2k per monthMedian HK$20k per monthMode HK$20k per month


36

4.3.2 Monthly salary needed to be comfortable (by gender and age)


Males HK$21.9 k HK$20.0 k HK$20.0 k

Females HK$19.2 k HK$19.0 k HK$20.0 k

15 - 16 years HK$19.2 k HK$17.0 k HK$20.0 k

17 - 18 years HK$22.1 k HK$19.0 k HK$20.0 k

Q5a. What monthly salary do you think would make you comfortable? IF UNSURE, ASK FOR BEST ESTIMATE[ ] enter best estimate (HK$) 1Don’t know 97Refused 99Base: All respondents (n=400)


37

4.4.1 Age expect will earn comfortable salary

98%

2%

Will earn that salary Will not earn that salary

Q4b. Do you think you will earn that salary one day? IF YES, how old do you think you will be when you earn that salary? IF UNSURE, ASK FOR BEST ESTIMATE.[ ] years of age 1Don’t know 97Won’t ever be that wealthy 98Refused 99

16%

35% 33%

14%

2%

98%

84%

51%

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

20 or younger 21 - 25 years 26 - 30 years Over 30 years Won’t ever earnthat much

Pe

rce

nt

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

Cu

mu

lati

ve

pe

rce

nt

% Cum.Mean 26.7 yearsMedian 25.0 yearsMode 25 years Base: All respondents (n=400)

38

4.4.2 Age expect will earn comfortable salary (by gender and age)


Males 27 years 26 years 25 years

Females 26 years 25 years 25 years




Q4b. Do you think you will earn that salary one day? IF YES, how old do you think you will be when you earn that salary? IF UNSURE, ASK FOR BEST ESTIMATE.[ ] years of age 1Don’t know 97Won’t ever be that wealthy 98Refused 99

39

4.5.1 Hours willing to work to earn a comfortable salary

29%

45%

25%

1%

100%

71%

1%

26%

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

< 40 hours 41 - 50 hours 51 - 80 hours Over 80 hours

Pe

rce

nt

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

Cu

mu

lati

ve

pe

rce

nt*

% Cum.

Mean 48 hoursMedian 48 hoursMode 48 hours

Q5c. How many hours a week would you be willing to work to earn this much money? IF NECESSARY, ASK FOR BEST ESTIMATE[ ] hours 1Don’t know 97Refused 99

Base: believe will earn comfortable salary (n=392)

* Cumulative percentage is proportion willing to work at least that minimum of hour range to earn comfortable salary

40

4.5.2 Hours willing to work to earn salary (by gender and age)


Males 48 hours 48 hours 48 hours

Females 47 hours 48 hours 48 hours

15 - 16 years 47 hours 48 hours 48 hours

17 - 18 years 49 hours 48 hours 48 hours

Q5c. How many hours a week would you be willing to work to earn this much money? IF NECESSARY, ASK FOR BEST ESTIMATE[ ] hours 1Don’t know 97Refused 99


41

Section 5: Spending and saving patterns

42

5.0.1 Summary of income and income sources

• Almost all respondents received money from their parents or other family members (95%). Eighteen percent are working, either part time (14%) or full-time (3%). Seven percent cited drawing on ‘savings’ as a source of money. Females are more likely than males to obtain money from working (23% vs 13% for males). As would be expected, 17 – 18 year olds are more likely to receive money from working part-time (24%) or full-time than 15 – 16 year olds (5% and 0% respectively). Ninety-nine percent of 15 – 16 year olds receive money from their parents, versus 89% of 17 – 18 year olds.

• The mean monthly income from all sources was $1,359. The most commonly cited monthly income was $1,000. 17 – 18 year olds have more monthly income than 15 – 16 year olds ($1,742 vs. $977). Although males and females have similar mean monthly incomes ($1,323 vs $1,396), males receive more on average from their parents than females ($979 vs. $867). Parents also give higher allowances on average to dependents aged 17 – 18 years ($1,014) than those aged 15 – 16 years $842.

• Across the board, 88% of income amongst this age group is sourced from parents and 12% from employment. The proportion of income derived from work is higher amongst 17 – 18 year olds (22%) than 15 – 16 year olds (4%).

43

5.0.2 Summary of spending and saving patterns

• Three quarters (74%) of 15 – 18 year olds save some of their money each month. On average, the proportion saved is 24% of total income or $325. The proportion saving more than 50% of their income is only 24% and around a third (32%) save less than 20% of their income.

• The savings patterns are very consistent by gender and age. Given that income rises substantially with age, the conclusion is that spending and saving both rise proportionally. Put another way, additional income does is not automatically saved.

• Around half of income (49% or $663) is spent on entertainment/having a good time and only 7% ($95) on purchase of goods. Only 1% of income on average is spent on investments (stocks and shares), reflecting the small number who direct money this way at all.

• There are some differences in spending by gender. Males spend comparatively more of their income on purchase of goods than females (10% vs 4%). By comparison, females spend around twice as much as males on clothes (23% of their income compared to 12% amongst males).

• Spending patterns do not differ appreciably by age.

• Of the 24% saved on average, most appears to be habitual - 47% of savings is simply for ‘a rainy day/nothing in particular’. The next greatest proportion is reserved for purchase of a specific thing (31%). Only 12% of average savings is being directed towards education, 10% towards travel. Motivations for savings are consistent between males and females

44

5.1.1 Sources of money

7%3%

14%

95%

0%

25%

50%

75%

100%

From parents /otherfamily member

Work part time Work full time Savings

Q6. Where do you get your money now?Base: All respondents (n=400)

Multiple response

14.4% + 3.3% ~ Net 18% work


45

5.1.2 Sources of money (by gender)

93%

17%

5% 7%7%2%

11%

96%

0%

25%

50%

75%

100%



Males Females

Q6. Where do you get your money now?Base: All respondents (n=400)



Males net work = 13%Females net work = 23%

46

5.1.3 Sources of money (by age)

89%

24%

7% 8%7%0%5%

99%

0%

25%

50%

75%

100%



15 - 16 years 17 - 18 years

Q6. Where do you get your money now?


Multiple response


47

21%

31% 29%

19%

52%

71%

100%

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

< $500 $500 - $999 $1000 - $1999 $2000 +

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

% Cum.

5.2.1 Mean monthly income from all sources

Mean HK$1,356 per monthMedian HK$900 per monthMode HK$1,000 per month


Q7a. What is your total income each month, from any source? IF NECESSARY What is your total monthly income from work / parents, other sources?[ ] Total (HK$) 1Don’t know 97Refused 99

48

5.2.2 Mean monthly income from all sources (by gender and age)


Total Males Females

Total HK$1,356 HK$1,323 HK$1,396

15 - 16 years HK$977 HK$916 HK$1,033

17 - 18 years HK$1,742 HK$1,699 HK$1,789



49

5.2.3 Summary of income by source

Amongst those…

Mean income from this source is…

Proportion receiving is …

Mean

Receiving money from parents

HK$924 94.80% HK$876

Working part/full time

HK$2,704 17.74% HK$480

Overall mean monthly income HK$1,356



50

5.2.2 Mean monthly income by source (by gender and age)


From parents From work

Males HK$979 HK$2,675

Females HK$867 HK$2,724

15 - 16 years HK$842 HK$2,787

17 - 18 years HK$1,014 HK$2,690



51

5.3.1 Mean proportion of income from each source

Q7b. Of that amount, how much is from READ OUT – SHOULD TOTAL TO Q7a[ ] parents or family allowance (%) 1[ ] work / employment (%) 2[ ] Other (%) (Specify___________) 3Don’t know 97Refused 99

88%

12%

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

Parents or family allowave Work / employment

Sig. different @ 95% confidence intervalBase: All respondents (n=400)

52

5.3.2 Mean proportion of income from each source (by gender)


89%

11%

85%

15%

$0

$0

$0

$0

$0

$1

$1

$1

$1

$1

$1


Male Female


53

5.3.3 Mean proportion of income from each source (by age)

96%

4%

78%

22%

$0

$0

$0

$0

$0

$1

$1

$1

$1

$1

$1


15 - 16 years 17 - 18 years



54

5.4.1 Spending and saving pattern

Q7c. Approximately what proportion of your monthly income do you spend / save each month?Spend [ ] 0 – 100 % 1Save [ ] 0 – 100 % 2Don’t know 97Refused 99

18%14% 12%

6%

14%

4% 2% 2% 1% 0%

74%

56%

42%

30%

24%

10%6%

4%1% 0%0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

1 - 10% 11 - 20% 21-30% 31-40% 41-50% 51-60% 61-70% 71-80% 81-90% 90% +

Pe

rce

nt

0%

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

Cu

mu

lati

ve

pe

rce

nt

%Saved Cum % saved

74%

26%

Save Don't save

Mean proportion saved 24% Mean $ saved HK$325Mean proportion spent 75%Mean $ spent HK$1,028

Base: All respondents (n=400) 74% save something each month. Overall, 24% of net monthly income ($1,356) is saved.

55

5.4.2 Spending and saving pattern (by gender and age)

76% 76% 76% 76% 75%

24% 24% 24% 24% 25%

0.0%

10.0%

20.0%

30.0%

40.0%

50.0%

60.0%

70.0%

80.0%

90.0%

100.0%

Total Male Female 15 - 16 years 17 - 18 years

Spent Saved

Q7c. Approximately what proportion of your monthly income do you spend / save each month?Spend [ ] 0 – 100 % 1Save [ ] 0 – 100 % 2Don’t know 97Refused 99


Savers mean income HK$1,426Non-savers mean income HK$1,170

56

5.4.3 Distribution of monthly spending

$0

$100

$200

$300

$400

$500

$600

$700

$800

$900

$1,000

0%

10%

20%

30%

40%

50%

60%

$ $663 $325 $244 $95 $14 $14

% 49% 24% 18% 7% 1% 1%

Entertainment SavingPurchase of

clothesPurchase of

goodsInvestment Other

Q8a. Thinking about how you spend your money, about what percentage of your monthly income from all sources do you spend on…? READ OUT


57

5.4.4 Distribution of monthly spending (by gender and age)



Entertainment

SavingPurchase of

goodsPurchase of

clothesInvesting

Male% 51% 25% 10% 12% 1%

$ $675 $331 $132 $159 $13

Female% 46% 24% 4% 23% 1%

$ $642 $335 $56 $321 $14

15 - 16 years% 50% 23% 6% 17% 1%

$ $489 $225 $59 $166 $10

17 - 18 years% 47% 25% 8% 18% 1%

$ $819 $436 $139 $314 $17

58

5.4.5 Distribution of monthly savings

$0

$20

$40

$60

$80

$100

$120

$140

$160

$180

$200

0%

5%

10%

15%

20%

25%

30%

35%

40%

45%

50%

$ $153 $101 $39 $33

% 47% 31% 12% 10%

Nothing / for an emergency

Purchase of a specific thing

Education holiday or travel

Q8b. Thinking about how you save your money, about what percentage of your monthly savings is being saved towards…? READ OUT


59

5.4.6 Distribution of monthly saving (by gender and age)

Education Holiday Specific item Rainy Day

Male

% 13% 9% 33% 46%

$ $43 $30 $109 $152

Female

% 11% 11% 30% 48%

$ $37 $37 $101 $161

15 - 16 years

% 12% 11% 33% 43%

$ $28 $26 $77 $101

17 - 18 years

% 12% 9% 29% 50%

$ $50 $38 $121 $209



60

5.5 Summary of income and expenditure

Net Mean Monthly Income$1,356

Saved $325 Spent $1,028

Parents (95%)

Work(18%)

Mean income$2,704

Mean income$924

emergency $153

Buy something $101

Education $39

Travel $33

24% 76%

$663 Entertainment

$244 Buy clothes

$95 Buy goods

$14 Investments

$14 Other

61

5.6 Some interesting extrapolations to the HK economy

Net Annual Income

352,000 aged 15 – 18 years x $1,356 average income x 12 months = HK$5.7 billion

Total gross annual value of allowances from parents

352,000 x 94.8% receiving an allowance x $924 x 12 months = HK$3.7 billion

Estimated gross annual income from part/full time work

352,000 x 17.74% working x $2,704 ave. income x 12 months = HK$2.0 billion

Estimated annual economic value of spending

352,000 x $1,028 spend per month x 12 months = HK$4.3 billion

Estimated annual pool of savings*

352,000 x $325 per month x 12 months = HK$1.4 billion

* Assumes savings are not subsequently spent

62

Section 6: Credit cards

63

6.0 Credit cards

• Only 2% of respondents said they had a credit card. The implications of this low figure are:

– The interpretation of the question was taken to exclude signatory cards of parents. The proportion holding such cards is indeterminate.

– Amongst the 18 year olds who are eligible to take out their own card, penetration is very low. Given average income amongst 17-18 year olds is only $1, 742 this low penetration may reflect a general ineligibility to obtain a card based on income. A positive implication is that there is no credit card debt problem amongst this group.

64

6.1 Credit card ownership

2%

98%

None One

Q9a. Do you currently have a credit card? IF YES How many? SINGLE RESPONSE

Proportion of monthly spend Number of respondents

1% N=1

10% N=2

30% N=1

Don’t know N=3

One respondent indicated he rolled over HK$2,000 per month on his credit card, the remainder paid the card off in full.

Note – this question pertains to personal card ownership only and does

not include signatory cards


65

Section 7: Tertiary Education and employment

66

7.0 Summary of tertiary education and employment

• Nine out of ten 15 – 18 year olds (89%) indicated that they want to go to university. The rate of intent is consistent by both age and gender. One noticeable difference, is that 10 of 12 respondents working full time did not want to go to university. The proportion NOT wanting to go to university was similar between those working part time (12%) and those not working at all (9%).

• Respondents were asked what profession they intend to enter when they join the workforce. The most commonly cited profession was ‘tourism and hospitality’, mentioned by 15% of respondents. One in ten (10%), said they want to be an accountant and the same number want to work in Government. Slightly less (9%) want to be lawyers or enter the education sector (9%). Relatively few were interested in working in Hong Kong’s traditional industries – Trading and manufacturing (5%) or Construction, property/infrastructure (4%).

• Whilst there were no significant differences by age, some differences by gender were apparent:

– A greater proportion of males want to be lawyers (12%), work in I.T. / Technology (11%) or ‘construction, property and infrastructure’ (7%). Females were more likely to want to work in tourism and hospitality (19%) or medical services (7%)

67

7.1 Proportion who want to go to University

89% 89%88%

90%

87%

10%9%

10%7%

12%

1%2% 2%

3%1%

80%

82%

84%

86%

88%

90%

92%

94%

96%

98%

100%

Total Males Females 15 - 16 years 17 - 18 years

Yes No Not sure

Q11. Do you want to go to University? SINGLE RESPONSE



68

7.2.1 Preferred occupation

Q14. What profession to you want to join when you enter the workforce? DO NOT READ OUT, SINGLE RESPONSE

1 5 %

1 0 .4 % 1 0 %9 % 9 %

7 % 7 % 7 %

5 % 5 %4 %

3 %2 % 2 %

4 %

0 %2 %4 %6 %8 %

1 0 %1 2 %1 4 %1 6 %1 8 %2 0 %


69

7.2.2 Preferred occupation

Q14. What profession to you want to join when you enter the workforce? DO NOT READ OUT, SINGLE RESPONSE

1 1 %

6 %

1 0 . 4 %

6 %

1 2 %

2 %

1 2 %

8 %

4 %3 %

1 1 %

2 %

0 %

3 %

7 %

3 %

1 9 %

1 1 % 1 1 %

8 % 8 %7 % 7 % 7 %

5 %

3 % 3 % 3 %2 % 2 %

1 % 1 %

0 %

2 %

4 %

6 %

8 %

1 0 %

1 2 %

1 4 %

1 6 %

1 8 %

2 0 %

Tou

rism

and

Hos

pita

lity

Edu

catio

n

Acc

ount

ant

Med

ia o

rM

arke

ting

Gov

ernm

ent

and

NG

O

Med

ical

serv

ice

Law

yer

Ban

king

or

finan

ce

Tra

ding

and

Man

ufac

turin

g

Oth

ers

(<2%

)

I.T

. or

Tec

hnol

ogy

Bus

ines

s N

SA

Mov

ie /

ente

rtai

nmen

t

Hum

anR

esou

rces

and

Con

stru

ctio

n,P

rope

rty

and

Infr

astr

uctu

re

Don

t kn

ow

M a le F e m a le Sig. different @ 95% confidence intervalBase: All respondents (n=400)

70

Intending accountants – key statistics

Proportion intending amongst 15 – 16 year olds 6%Proportion intending amongst 17 – 18 year olds 9%

Proportion intending amongst males 10%Proportion intending amongst females 11%

Perceived salary to be comfortable HK$19,179Perceived age earn comfortable salary 28.3 yearsHours willing to work to earn this salary 46.7 hours

71

Appendix – Questionnaire

72

J2176 Hong Kong Youth Attitudes to Money study

Name/ Number of interviewer: __________ Contact Number: ____________________

Date:______________________________ Time: AM/ PM: _____________________

Name of Respondent: ________________ Screener ID:________________________

Introduction

Hello. My name is ____________ and I am from Market Insights Group, an independent market and social research company. We are undertaking a social study about youth attitudes in Hong Kong. The study is being undertaken on behalf of the Hong Kong Institute of Certified Public Accountants and is about attitudes to money, work, health and wellbeing.

Our study is being undertaken amongst people aged 15 to 18 years. Do you fall into that age range?

This study is strictly for research purposes and will not attempt to sell you anything. The survey will take about 10 minutes. All your responses are completely confidential.

Do you mind if I ask you some questions about your attitudes and opinions?

S1. First, of all, do you mind telling me your age?

15 – 16.................................................................. 1 [QUOTA N=200] 17 to 18 years ....................................................... 2 [QUOTA N=200]

Record gender automatically

Male 1 [QUOTA N=200] Female ......................................................................2 [QUOTA N=200]


Rating

ROTATE Strongly disagree

Disagree somewhat

Somewhat agree

Strongly agree

Don’t know

1 Money is important to me right now 1 2 3 4 5

2 I’d rather spend time doing things I want, rather than working even if I have less money 1 2 3 4 5

3 I tend to spend money without thinking too much about my finances 1 2 3 4 5

4 I wish I was better at saving money 1 2 3 4 5

5 I think I will be wealthy when I am older 1 2 3 4 5

6 It is important to earn a lot of money to be happy in life 1 2 3 4 5

7 I am good at managing my money 1 2 3 4 5

8 It’s okay to rely on your parents for money at my age 1 2 3 4 5

9 I enjoy saving my money more than spending it 1 2 3 4 5

10 It is important for young people to work 1 2 3 4 5

Q2. Which of the following best describes how you feel about Hong Kong’s future prosperity for people who will live and work in Hong Kong?

Hong Kong will be much less prosperous in the future ...................................1 Hong Kong will be somewhat less prosperous in the future............................2 Hong Kong will have the same level of future prosperity as today ..................3 Hong Kong will somewhat more prosperous in the future...............................4 Hong Kong will be much more prosperous in the future than today................5 Refused..........................................................................................................9


Q8. Spend Parents 1 Friends 2 Magazine 3 School 4 Newspaper 5 Internet 6 Television 7 Other (Specify______________) 98 Don’t get advice 97 Refused 99

Q4a. How much money do you think you would need to be considered rich? IF UNSURE,

ASK FOR BEST ESTIMATE

[ ] enter best estimate (HK$)....................................... 1 Don’t know .............................................................................. 97 Refused................................................................................... 99

Q4b. Do you think you will be that rich one day? IF YES, how old do you think you will be when you are that wealthy? IF UNSURE, ASK FOR BEST ESTIMATE.

[ ] years of age............................................................ 1 Don’t know .............................................................................. 97 Won’t ever be that wealthy ...................................................... 98 Refused................................................................................... 99

Q5a. What monthly salary do you think would make you comfortable? IF UNSURE, ASK

FOR BEST ESTIMATE

[ ] enter best estimate (HK$)....................................... 1 Don’t know .............................................................................. 97 Refused................................................................................... 99

Q5b. Do you think you will earn this salary one day? IF YES, How old do you think you will be when you earn this salary? IF UNSURE, ASK FOR BEST ESTIMATE

[ ] years of age............................................................ 1 Don’t know .............................................................................. 97 Won’t ever earn that much SKIP TO Q6.................................. 98 Refused................................................................................... 99

73

Q5c. How many hours a week would you be willing to work to earn this much money? IF NECESSARY, ASK FOR BEST ESTIMATE

[ ] hours .......................................................................1 Don’t know...............................................................................97 Refused ..................................................................................99

Q6. Where do you get your money now?

From parents, or other family members.....................................1 Work part time...........................................................................2 Work full time ............................................................................3 Savings.....................................................................................4 Other (Specify____________) ..................................................5 Don’t have any source of money [SKIP TO Q9a] ......................6 Don’t know..............................................................................98 Refused ..................................................................................99

Q7a. What is your total income each month, from any source?

IF NECESSARY What is your total monthly income from work / parents, other sources?

[ ] Total (HK$)..............................................................1 Don’t know...............................................................................97 Refused ...................................................................................99

Q7b. Of that amount, how much is from READ OUT – SHOULD TOTAL TO Q7a

[ ] parents or family allowance (%)...............................1 [ ] work / employment (%)............................................2 [ ] Other (%) (Specify___________) ............................3 Don’t know...............................................................................97 Refused ...................................................................................99

Q7c. Approximately what proportion of your monthly income do you spend / save each

month?

Spend [ ] 0 – 100 %.................................................1 Save [ ] 0 – 100 % .................................................2 Total [ 100% ] Don’t know...............................................................................97 Refused ...................................................................................99

income from all sources do you spend on…? READ OUT ROTATE Q8. Spend Entertainment, going out, having a good time [ ] % Saving / put it in the bank [ ] % Buying thinks like appliance or electronics [ ] % Buying clothes or other fashion accessories [ ] % Invest it in the stockmarket or other investment [ ] % Other (Specify_________________) [ ] % Other (Specify_________________) [ ] % Other (specify__________________) [ ] % Don’t know 997 Refused 999

TOTAL 100% ASK Q8b IS STATEMENT 2 > 0% Q8b. Thinking about how you save your money, about what percentage of your monthly

savings is being saved towards…? READ OUT ROTATE Q10. Spend Education [ ] % Holiday or travel [ ] % Purchase of a specific item like phone, computer, TV etc. [ ] % Nothing specifically / just for an emergency [ ] % Other (Specify_________________) [ ] % Other (Specify_________________) [ ] % Other (specify__________________) [ ] % Don’t know 997 Refused 999

TOTAL 100%

Q9a. Do you currently have a credit card? IF YES How many? SINGLE RESPONSE

None [SKIP TO Q10a].............................................................. 1 One.......................................................................................... 2 Two.......................................................................................... 3 Three ....................................................................................... 4 Four ......................................................................................... 5 Five .......................................................................................... 6 More (Specify______).............................................................. 7 No credit cards....................................................................... 97 Don’t know ............................................................................. 98 Refused.................................................................................. 99

Q9b. What proportion of your spending each month, roughly, is on your credit card? IF

NECESSARY, ASK FOR BEST ESTIMATE

[ ] enter best estimate (%)........................................... 1 Don’t know .............................................................................. 97

74

Q9c. How much do you typically roll over from one month to the next across all your cards? IF NECESSARY What is the usual total balance outstanding at the end of the month? INSERT ‘0’ IF PAY IN FULL.

[ ] enter best estimate (HK$) ....................................... 1 Don’t know .............................................................................. 97 Refused................................................................................... 99

Q10a. If someone gave you HK$10,000 to spend as you liked on anything, which of the

following things would you do with the money. READ OUT, MULTIPLE RESPONSE Q10b. For each item selected, would you spend some or all of the money on that? IF SPEND

ALL ON ANY ITEM, SKIP TO Q11.

ROTATE Q10a. Spend Q10b.

Some or all Spend on entertainment, going out, having a good time 1 1 2 Save it for the future 2 1 2 Buy something I’ve always wanted like an appliance or electronics 3 1 2 Go on a holiday 4 1 2 Give it to my parents 5 1 2 Donate it to charity 6 1 2 Invest it in the stock market 7 1 2 Other (specify__________________) 8 1 2 Don’t know 9 1 2 Refused 10 1 2

Q11. Do you want to go to University? SINGLE RESPONSE

Yes........................................................................................... 1 No ........................................................................................... 2 Not sure ................................................................................... 3 Refused.................................................................................... 9

Q14. What profession to you want to join when you enter the workforce? DO NOT READ

OUT, SINGLE RESPONSE

Lawyer ................................................................................1 Accountant ..........................................................................2 Media or Marketing .............................................................3 Banking or finance ..............................................................4 Education ...........................................................................5 Human Resources and Recruitment....................................6 I.T. or Technology ...............................................................7 Construction, Property and Infrastructure ............................8 Trading and Manufacturing .................................................9 Tourism and Hospitality.......................................................10 Government and NGO ........................................................11 Don’t want to work / stay at home .......................................12 Others (please specify______________) ............................97 Others (please specify______________) ............................97 Others (please specify______________) ............................97 Don’t know ..........................................................................98 Prefer not to answer ............................................................99

D1. Which of the following best describes your family? READ OUT, SINGLE RESPONSE

Live at home with both parents who are married .......................... 1 Live at home with single parents .................................................. 2 Live with other relatives................................................................ 3 Live away from home................................................................... 4 Other (Specify____________) ..................................................... 5 Refused ....................................................................................... 9

D2. Where in Hong Kong do you live?

Southern District 1 Sai Kung District 10 Central & Western District 2 Sha Tin District 11 Wanchai District 3 Northern District 12 Eastern District 4 Tai Po District 13 Yau Tsim Mong District 5 Yuen Long District 14 Shum Shui Po District 6 Tuen Mun District 15 Kowloon City District 7 Tsuen Wan District 16 Wong Tai Sin District 8 Kwai Tsing District 17 Kwun Tong District 9 Island District 18

PROVIDE NAME REFERENCE AND CLOSE SURVEY

Documents

Teenagers and Money (a survey from the “Rich Kid, Poor Kid” programme)