now that the ang pows have changed hands, what should the kids do with their new found wealth? my daughter will be planning to spend most of that at the next shopping trip (i believe an iPod is top on the list, which i shall try to deter) while the boy is thinking of opening a kiddie bank account. he probably got the idea from going on numerous trips to the bank with me.
when i asked him which bank he intends to save with, without a 2nd thought, he picked Maybank.
why?
because he was born in the month of May.
good choice, i thought. after all, there's a branch near where we live, parking is easy & free, & it's government-linked.
so there you are, save your money & support the government. how much simpler can life be??
16 comments:
I used to save all my angpau money in the bank but now ... the angpau money is much ... so just used it :)
Wow, your boy is very mature. Quick go to the bank before he sees the sister's IPod.
He'll will probably tells you that he wants to join MCA next. LOL
Happy Lunar New Year! As nearly all the AngPows are in Ringgit, I get to keep the ringgit convert them into S$ and deposit into their account.
My mother used to match my angpow money and bank it in for me but in recent years, I just stash it in my drawer, I think I have 3 years worth of angpow money in there. Well, 3 years minus expenses... hehe.
TZ,
the bank interest rate isn't much either, so spending wisely appears like a sound option.
my son's case is different - he needs to inculcate the habit of saving while still young.
Jonzz,
as long as he has his Gameboy, the iPod doesn't interest him.
Jems,
ha ha, he's such a timid boy, he's more likely to end up a phantom voter.
Iml,
match their RM1 with SGD1 - that way, you don't need to convert & you get to be a "generous mum"!!
happy lunar new year!
Anastasia,
see, your mum doesn't match your ang pows anymore because you're all grown up!!
3 years minus expenses = big deficit. isn't SB @ tebrau city hiring??
What is your ang pow balance sheet like this year...negative or positive? ( sum received by yr kids minus sum given out)
Just me,
it's negative every year, because my parents & 2 kids get a fat one each, but then, isn't it more blessed to give than receive??
Not counting the ones you give to prents and own kids?
Yes, definitely more blessed to give than to receive.
Proverbs 11v24
"One man gives freely, yet gains even more,,another witholds unduly, but comes to poverty."
Just me,
in that case, everything balanced out in the end.
thanks for the verse.
hi doc,
I’ve been teaching my kids, the value of money, saving, budgeting and spending wisely from an early age.
I've provided each of the kids a piggy bank to fill up their angpow $$. When the piggy banks are fully loaded, I transferred their $$$ in their bank accounts.
Hi Rambler,
thanks for your comment.
yes, it's right to teach the kids in the way they should go, so that when they grow up, they will not depart from that path.
my daughter had a piggy bank till she was 12, when i opened a joint bank account with her. so now, she just deposit her saved pocket money on a regular basis.
i'll also open one for the boy in a few years' time.
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