Tips and resources on financial management for domestic helpers
Good money management and financial stability mean that a domestic helper can avoid distractions of financial stress while working in Hong Kong, support family members back home, and make a savings plan for the future.
Here are some resources and tips on money matters for domestic helpers:
Choose employment agencies carefully:
Excessive recruitment fees are a key cause of financial debt issues faced by domestic helpers. Domestic helpers spend on average 4-6 months paying off recruitment debt (Farsight, 2016; Justice Centre, 2016). See our articles before choosing an employment agency:
Using monthly payslips can be helpful to both employers and domestic helpers. They can help in record keeping, tracking of monthly salaries, deductions, allowances, and other entitlements.
Use a savings account:
A bank account is a good tool for money management. Instead of cash, salaries can be paid directly into a domestic helper’s bank account. This also avoids the easy temptation of spending cash. Domestic helpers can take another step further by opening a second account for savings, and transfer amounts from the initial account regularly to set aside. See: What is the best bank account for domestic helpers
Enrich is a Hong Kong-based charity that provides financial management training for domestic helpers and a confidential one-to-one Financial Counselling service for domestic helpers in debt. Employers and/or domestic helpers can reach out to Enrich for help: Tel: 2386 581; Facebook: EnrichHK
Financial management training:
- Enrich is a Hong Kong charity that provides financial management training for domestic helpers on saving, investing and setting up a business. Employers can also sponsor domestic helpers to take Enrich courses and find further tips on their website.
- Uplifters is a Hong Kong charity that provides online financial management courses. These are free for domestic helpers to enrol in.
- Domestic helpers can sigh up on Facebook: Uplifters Community
You might also like:
- What is the best bank account for domestic helpers?
- Tips for employers on gifts and bonuses
- Temporary Shelter for Domestic Helpers
- What salary should I pay a domestic helper?
- Do I have to pay for a domestic helper’s medical expenses?
Farsight, Modern Slavery in East Asia, Feb 2016, (http://modernslavery.seefar.org)
Last updated on February 9th, 2021