Financial Independence

What does it mean to youth to be “financially independent”? Some say it is to be independent of parents' financial support; some want to be able to cover daily expenses and have enough savings for emergency; while others hope to use their money freely.

In 2017, we interviewed 1,073 youth aged 21 to 35 to examine their financial situation and get their views on the subject. A common reflection was that difficulty lied in purchasing a property or in using money freely for leisure or further study. Financial education programs in schools were also said to be ineffective in cultivating good money management skills and habits.

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