Letter from the Editor

Money matters

Entering university often marks the beginning of financial independence for many young people, as it is usually at this stage that they are able to make some money by doing part-time jobs. But the increased income is often offset by growing spending on meals, transport, tuition and social activities such as buying festive gifts or party outfits, among other things.

Those who have borrowed government loans for their studies would have to repay the money as soon as they have found a job upon graduation, the same time when they usually plan to rent or buy a flat.

Hong Kong¡¦s young people today may also need to shoulder extra financial burdens to be brought by the ageing population. Without sound financial planning, the young people may face difficulties in paying the possible heavy tax, enjoying their independent lives after graduation or preparing for a decent retirement in future.

But few local young people have a good idea of saving or investment. Some of them overspend on their credit cards while others lavish at the beginning of the month when they get their pay and live frugally when they have little money left. Some young people also try to make ¡§quick money¡¨ from the stock market, but they often invest without a thorough understanding of the risks involved.

The poor financial literacy of the youth generation is stemmed from the lack of relevant education. Financial planning weighs little in the school curriculum and discussions on the topic, if there are any, often remain on the theoretical level with little practical value.

More young people therefore seek professional advice from banks and other financial institutions, which have been providing saving and investment tips for the young in recent years and are tapping into the youth market.
In this issue, our Periscope section brings you an in-depth report of the financial challenge for the young people and the advice of experts on personal wealth management.

Money matters, but man does not live on bread alone. There are other things in life that we need to care about at the same time. The stories of Yu Lai Wai-ling¡¦s persistence in searching for her missing autistic son Man-hon, ¡§Tai Pan¡¨ Albert Cheng King-hon¡¦s champion for an independent voice and the awakening of the Hong Kong identity among the youth through heritage conservation, are perhaps some food for thought.

This month¡¦s Varsity is the first of the three issues to be published in this semester, and the last one in May will be the celebratory 100th. We hope you will enjoy reading our magazine ¡V this issue and the many issues to come. Your support means a lot to us.

Yaki Wo
Managing Editor