Budgeting | Life | Personal Finance | Personal Stories | Article
Post-LNY Blues: Here’s What We Did with Our Ang Bao Money
by Tim Jacobs | 21 Feb 2019 | 3 mins read
Finally, the Lunar New Year curtains have drawn to a close. The incessant shopping mall music can take a backseat now, and so life goes on. But at this point, we know just what’s on everyone’s mind: we’ve got all this ang bao money – now what do we do with it?
Check out what these guys did with their Lunar New Year “earnings.”
Champa, 29, working full-time
“So, I didn’t save any money because what I got actually helped to supplement my income. I spent it mostly on food and expenses. I’m broke AF.”
Tip: Why be broke when you can be woke? If you find yourself getting broke often, hunker down and take a hard look at your budget. Cut costs on things you can do without, or cheapen your options when you eat out.
Sarah, 24, working full-time
“A bit of it went to daily expenses for lunch and stuff. The rest of the money was put into the bank. A portion of it was returned to my parents, because I owe them money.”
Tip: If you take a loan, you don’t get to moan. Repaying debts owed is generally a good idea – unless you like burning bridges.
Owen, 19, polytechnic student
“I used a quarter of it as a float amount for gambling during Chinese New Year. The rest is collecting dust for now in a container. I’m planning to either buy an additional RAM or a video game I’m looking forward to next month.”
Tip: Restraint is the name of the game. No, seriously – gambling is always a 50/50 thing. Tread lightly.
Joey, 24, working full-time
“I spent it all playing blackjack. I didn’t save it because I ran out of small notes while playing blackjack.
Tip: Or… don’t tread lightly? If it’s money you can afford to lose – like in investments – then go ahead. Just don’t go broke for blackjack.
Zina, 24, working full-time
“I spent it all on a trip to Darwin in May. It’s my birthday month, so I’m flying for that and choosing not to save the ang bao money this year.”
Tip: If it’s something meaningful and worthwhile (ah, the millennial experience), then investing your ang bao money into it might not be such a bad idea. How else are you going to fund your fun?
Sam, 19, polytechnic student
“I haven’t spent it yet! I’m planning to save it for my trip to Thailand, and also to get myself a new laptop.”
Tip: Big ticket expenses can be easily cleared with ang bao money – if you get enough, that is.
Fionn, 29, freelancer
“I spent it all buying shirts for my boyfriend. Didn’t save because I thought – well, my freelance pay is coming in from another assignment. Also because my boyfriend is a terrible shopper.”
Tip: Teamwork makes the dream work. Sometimes it’s worth it to be the Best Girlfriend of the Year. Practical spending for the win
What about you? How did you spend your ang bao money this year?