ang bao Archives | MoneyDigest.sg

2022 Ang Bao Rates: How Much Money Should You Give?

The roaring Year of the Tiger begins on 2022 Feb 1 and ends on 2023 Jan 21. Abundant food, vibrant family reunions, and little red packets called ang bao will grace Singapore once again.

Singaporeans usually give these red packets during social gatherings such as Chinese New Year or weddings. Its color embodies “good luck”, which is supposed to ward off evil spirits.

If you are new to giving these red packets, how much money should you give? Let us start by knowing what a red packet or ang bao is.

What is an ang bao?

Married couples usually give these red packets to single people. It dates back from the Chinese belief that you achieve the adulthood once you get married. So, the newfound status comes with the privilege to distribute ang baos to those who remain single or are younger.

Since Singapore consists of diverse cultures, we as a nation have created practices surrounding ang bao gifting. It is not uncommon to have marriages between two different races, leading to traditional practices being modified.

Why do people give ang baos?

Ang bao gifting is a sign of goodwill and symbolizes good fortune. You do not need to break the bank for this gesture to be meaningful. It is a kind gesture, so give whatever you can afford.

Moreover, do not open your ang bao in front of everyone as it is considered impolite to start counting money in plain sight.

What is the minimum amount to give?

To this day, there is no strict rate to be followed. The amount you give usually depends on how close you are to the recipient. We have heard people receiving ang baos ranging from S$6 to S$1000. As a general guideline, you should give the most to your parents, grandparents, and in-laws. Doing this is a sign of respect and gratitude.

Your siblings and own children can receive about S$50 to S$200 as a symbol of your love. Cousins, nephews, and nieces can receive S$10 to S$50 as a symbol of well wishes. You can also pack a couple of S$2 or S$6 ang baos in case you meet your acquaintances, distant relatives, and their little ones.

Image Credits: unsplash.com

Are there numbers to avoid?

Giving S$4 is debatable because the number “4” in Chinese sounds like “death”. As tempting as it sounds to give a modest amount of S$4, it may be better to avoid this in case others take offence.

Furthermore, elderly folks may advise against giving odd number amounts as it is considered inauspicious. Steer away from amounts like S$7 or S$11.

Can you give digital ang baos?

Giving digital ang baos is convenient and fast! Who does not love saving time and effort? You can give digital ang baos through the help of banks or retailers.

While it sounds good theoretically, not all Singaporeans are open to it. Traditionalists may frown upon this rising trend. However, money is money! Just remember to give within your means.

Sources: 1 & 2

Is It Time To Embrace The Rise Of Digital Red Envelopes?

First comes Snapchat’s Snapcash then there was MasterCard’s Selfie Authorization, and now we make way for the digital Ang Baos.

Yes! You read that right.

As we usher in the Year of the Monkey, China’s three Internet giants namely Baidu, Alibaba, and Tencent (developer of WeChat messaging app) offered their own versions of digital red envelopes. Even the Chinese government weighed in as they gave away a total of 300,000 RMB or about S$63,000 through Alipay – Alibaba’s digital payment service. However, the most impressive of them all was Tencent’s WeChat app.

WeChat‘s red envelope scheme started in January 2014 in support of its digital payment service called WeChat Payments. Its functions include sending virtual money, withdrawing cash, and checking the transaction history.

Its popularity spread like wildfire since its inception. In fact, last February 8 marked a milestone as over 8 billion of digital red envelopes were sent through WeChat’s gifting scheme. That signifies an eight-fold increase from the previous year.

The types of WeChat’s red envelopes are as follows:

a. REGULAR RED ENVELOPE – upon availing this, the user can specify the amount of money he or she wants to give.

b. RED ENVELOPE LUCKY DRAW – upon availing this, the user will allocates a lump sum of money to a “group red envelope” wherein a number of small red envelopes are inside it. After posting this on a group chat, WeChat will randomly assign an amount for each recipient’s red envelope.

Although these all sounds fuss-free and convenient, you must consider its disadvantages. For instance, digital platforms are susceptible to cyber crimes. In 2015, a user who claimed to be the billionaire Chen Guangbiao deceived many WeChat users and ended up receiving a significant gain from them.

Also, digital Ang Baos may take away the family re-connection that the tradition entails.

Image Credits: pixabay.com (CC0 Public Domain)

So ask yourself: “Do you want focus on strengthening relationships or on monetary incentives?”

Sources: 1, 2, & 3

Interesting Ang Bao Facts Every Singaporean Shall Know

It is that time of the year again! We are about three weeks from the festivities of the Chinese New Year. Family reunions, abundant food, and small red packets called “Ang Bao, Hongbao, or Ang Pao” shall grace Singapore once again.

The color red embodies luck that is supposed to ward off the evil spirits. Along with its potent color, here are 5 Ang Bao Facts Every Singaporean Shall Know:

1. AMOUNT TO GIVE OUT

There is no specific standard on the lowest or the highest amount to give but the amount definitely reflects your character as a person. A simple survey on TheAsianParent Facebook Page showed that readers usually give out S$2 – S$80 to children in 2014. Although, Singaporeans usually give out S$6. If you are truly in touch with your Chinese roots, you will give out an amount ending with an even digit as odd digits are traditionally associated with funerals.

2. NOTES TO PUT IN

Generally, the number of notes you put it does not matter as long as the amount you gave is in the range of what is expected. Most Singaporeans do not mind if you opt for putting four S$2 or two S$5 notes! However, leaving even-numbered notes is believed to bring out future success!

3. NUMBER FOUR

Some people are likely to avoid giving amounts in fours such as S$40, S$44, and S$400. This is due to the fact that the number “4” is similar (or rhymes) with the word “death in several Chinese dialects.

4. DIFFERENT NATIONS

Since Singapore is a mixture of different cultures, we as a nation have created practices centering red packet gifting. It is not uncommon to have marriages between two different races, leading to traditional practices being modified or ignored. But aside from the Chinese, nations such as Vietnamese, Japanese, Filipinos and South Koreans have similar customs.

5. DIFFERENT CELEBRATIONS

Aside from Chinese New Year, red packets are given to religious practitioners and lion dance performers as a payment for their excellent service. Also, it is given to couples during wedding banquets. The minimum Ang Bao amount for this event is about S$50. It certainly is “little” compared to the minimum of S$150 handed out in Taiwan.

Image Credits: pixabay.com (License: CC0 Public Domain)

Let us be the first to greet you, advance Happy Chinese New Year!

Sources: 1, 2, & 3

How Much “Ang Bao” Money Shall You Give This Chinese New Year?

The festivity of the Chinese New Year is about a month away. Abundant food, family reunions, and little red packets called “Ang Bao” will grace Singapore once again.

These red packets are usually given during social gatherings such as weddings or the holidays. Its color embodies “good luck” that is supposed to ward off the evil spirits.

Married couples usually give these red packets to single people (e.g. children or work colleagues). Its history is rooted from the Chinese belief that you achieve the “adult status” once you get hitched. So, the newfound status comes with the privilege to distribute “Ang Baos” to those who still remain single or are younger.

Image Credits: Paul via Flickr

Since Singapore is a mixture of different cultures, we as a nation have created practices centering “Ang Bao” gifting. It is not uncommon to have marriages between two different races, leading to traditional practices being modified or ignored. But aside from the Chinese, Vietnamese, Japanese, Filipinos and South Koreans have similar customs.

A simple survey on TheAsianParent Facebook Page showed that readers usually give out S$2- S$80 to children in 2014. Furthermore, “S$4” was avoided due to its similarity to the word “death” in many dialects.

Ultimately, PerfectWeddings.sg showed that economy and income status affects the money given. During good economy, it was common to receive “Ang Baos” with a minimum of S$6 each for children but economic recession urged its reduction to S$2 each. Since, economic downturn affects the whole country, there was no judgment in the amount you give.

To help you find the right amount to give…here is a concise “Chinese New Year Ang Bao Market Rate 2014” chart by PerfectWeddings.sg :

As you can see, a red packet containing a minimum of S$2-S$20 is common to give for children, while it ranges to about S$8- S$88 for parents. Your in laws will not take it against you if you give them S$88 in the New Year. Lastly, you may give the same amount of money to your friends or colleagues’ children as you did with your own children.

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