Breadwinners burdened with finances of 3 dependents on average

Over 1 in 2 respondents manages the finances of spouses and parents/ in-laws.

Breadwinners in Hong Kong shoulder the finances of an average of three family members apart from themselves.

In a 2024 survey of nearly 400 residents, Hang Seng Bank found that breadwinners manage finances for spouses/ partners (55%), parents/ in-laws (55%), and children (48%). 

Over 80% of the respondents– who are aged 30 and above, with liquid assets of HK$1m or more– also indicated having overseas spending needs. These include expenses for children’s overseas studies, family living costs abroad, short-term work/stays, and overseas investments.

The survey is part of Hang Seng Bank;s push of its Prestige Banking ‘Family+Account.’ Launched in Hong Kong in 2023, the service offers management of family asset allocation and everyday banking.

It also offers money transfer services to over 50 countries and regions via the Hang Seng mobile app with no handling fees, the bank said.