Lionhill Partners Reports Concerns Over Credit Debt In Hong Kong Students.

Jan. 22, 2013 - PRLog -- Lionhill Partners is a private wealth management firm based in the financial hub of Hong Kong. Who in addition to offering all-inclusive financial advice across all financial disciplines to businesses, wealthy individuals and their families,  address the requirements of private retails investors that are looking to increase their wealth for themselves and their family’s future generations. The Company today released a report with the hope of helping local Hong Kong Students make the right decisions when it comes to Credit Card and credit card debt, the report stated  There's no doubt about it, going to University and College is becoming very expensive. The costs of rent, food, books and the ever-increasing price of tuition, many Hong Kong students are finding it harder to make ends meet. Due to the complex nature of their course work few students have the time to work as many hours as it would take to support themselves as well as still being able to do well in Universities, the results of this report show that many students go into debt to pay the bills. The findings also showed that when student loans don't provide enough support, the students turn to credit cards.

Lionhill Partners reported that although credit cards can be helpful for students in the short term, they can also be extremely dangerous for the student’s financial future if not used carefully. A few mistakes or missed payments can easily start them on the path to bankruptcy, especially considering that students tend to have low incomes and few assets until they have many years of employment behind them after graduation.  The main risk of credit card misuse is certainly the highest among students who have not been taught about consumer debt with Men being more of a risk than female students. Lionhill Partners study showed that students with the least credit knowledge are twice as likely to have a maxed-out credit card as students with "midlevel" knowledge. But the study also went on to say that, these midlevel students are much more likely to take credit risks, such as maxing out cards, missing payments or taking out cash advances than students with the most knowledge.

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Lionhill Partners in response to these findings argued that schools, parents and financial institutions, whether retail or private banking need to do more to teach students about credit cards. Simply expecting young adult students to manage their finances isn't enough. Instead, they need hands-on experience about what it is like to earn, spend and keep track of money, through these findings Lionhill Partners recommend the following Tips for Students about to take on Credit Cards to help with the increasing cost of Education:

- Don't apply for cards you don't need: Most students don't realize that each new credit application takes a big hit out of their credit score. So, while it may seem like a good idea to get a 10 percent discount by applying for a store credit card, the short-term savings are likely not worth the long-term damage to your credit scoring.

- Cards are not the same as money: Try to keep cards for emergencies only, don't use them for daily expenses. It's too easy to run up a big balance without realizing it.

- Always Factor in interest: Do the math before making any substantial purchase. Understand how the credit companies interest rate works and factor that into the purchase cost.

- Pay on time, every month: Something as simple as one late or missed payment can cause your interest rate to shoot up. Your credit score will take a big hit as well. Remember that paying the bill in full every month can help you avoid interest payments.


- Finally don’t be afraid to Ask for help: If you find yourself getting in credit trouble, the worst thing you can do is to ignore the problem and hope it goes away. Talk to your parents, your advisor or another trusted adult who can give you advice on how to move forward.

About Lionhill Partners: http://lionhillpartners.com

Lionhill Partners were founded in 1995, in the financial heart of Asia staying true to its founder’s vision of providing exceptional client focused service and clear-cut objective financial advice and planning. Abiding by these core principles, Lionhill Partners offers comprehensive investment services, integrated private wealth management solutions, and creative commercial and business packages, all tailored to each client’s individual needs and expectations.
After 17 years of ground breaking progress and successful teamwork, we are proud of what we have achieved today. Having built a company on solid foundations from the ground upwards into a leading private equity firm and we have achieved this continuously investing into our staff and having great investment success over the years due to the diligence of every member of our team. We are constantly expanding our Institutional and Private Client bases and are always actively searching for new investment opportunities around the globe.
Unlike our competitors we only open our doors to new clients once a year, understanding that we have a duty of care to the requirements of our existing clients. Approximately 85% of our new business comes from referrals from our existing clients a fact that we are extremely proud of. We only ever bring a limited number of high-impact investments to our clients each year. This affords us the ability to focus more energies and resources towards each and every one of our recommendations enabling us to develop every client’s portfolio in a structured way. Every single investment we make has the potential to show significant returns to our clients and through thorough research and analysis we have achieved this year after year since 1995.