Promoting inancial literacy, a combination of awareness, knowledge, skill, attitude and behaviour necessary to make sound inancial decisions, is now being regarded by the private, public and civil stakeholders as an essential long-term human capital investment. In particular, the young generation nowadays are exposed to active promotion of inancial services. In cities with high tertiary education popularization rate, the young generation had become a target segment of retailers and other sectors such as banking and inance, because of their higher consumption and inance potential after graduation. However, the lack of inancial literacy and the insuf icient awareness of the risks of overspending may lead the youths making poorly-informed personal inancial decisions which will have a knock-on effect in their future. A pilot study is conducted to investigate whether there is difference between teachers' and students' perception of the effectiveness of inancial education in high schools and the needs to provide personal inance education programmes at higher education institutions. Preliminary hypotheses testing was conducted to explore the relationship between age, personal inancial knowledge and personal inance behavior of the high school and tertiary level students. Validated measurement scale items are adopted, and Hong Kong is chosen for the investigation. The results revealed that students and other stakeholders share the same view about inancial education programmes effectiveness and the needs of such training at higher education level. While taking inancial education training could enhance inancial literacy, doing so seems not a good predictor of inancial behavior, so as the age and inancial literacy level. The experience of this pilot study and the implication of these preliminary indings can support the design of a fuller scale of research by informing policy makers, education sectors and social science on the needs to identify possible factors affecting the inancial behavior of the young generation, and to design highly target and well-speci ied programme to support them to manage inancial matters for the well-being of the individuals as well as the society.