A total of 79 domestic workers in Hong Kong finished a one-year course on how to manage their personal finances.
Enrich Hong Kong, a charity group for migrant workers, organized a series of workshops for foreign maids with the accounting firm KPMG, which aims to boost their financial literacy and help them manage their finances better, Ming Pao Daily reported.
Some 315 domestic workers enrolled in the one-year course and 79 of them attended all the workshops. After, 97% of them said they now understand various financial concepts, including risk, return and liquidity.
An Indonesian domestic worker named Ros R, who has worked in Hong Kong for 17 years, said she previously spent her money either on shopping or to support family members’ school fees.
But she then realized she had no money for her retirement. After the training course, Ros R said she started planning for retirement by investing the stock market. She chose some green technology companies. She also wanted to start a farming business in her hometown.
The one-year course includes eight workshops covering topics such as investment risk, stock market investment, banking and property investment.
Trainers from KPMG said most of the students’ issues of concern related to their children, such as how to raise funds for their study.
They hoped that the domestic workers would be able to manage their finances better in the long run, as well as to avoid becoming victims of any investment scams.