In a survey conducted by Babyment, more than 85% of the 116 respondents said that they would give Ang Bao to their children, nephews or nieces and children of other relatives. About 75% of the survey participants said that they would give Ang Bao to close friend’s children.
A smaller percentage (29.3%) of the respondents said they would give Ang Bao to common friends' children and only 22.4% of the respondents indicated that they would Ang Bao to colleges' children.
2. What is the market rate in 2018?
(a) Own children
Not surprisingly, parents are going to give their own children much more than what they are going to give to other children.
About 25.9% of the respondents indicate that they are going to give more than $100 to their children. 19% indicated that they are going to give between $62-$100 to their kids. 17.2% of the parents indicate that they were going to give between $42 to $50, another 17.2% indicate that they were going to give between $2 to $10.
About 36.2% of the survey participants indicated that they were going to give between $12 to $20 to their nephew or nieces, 29.3% indicated that they were going to give between $2 to $10 to their nephew.
3. So I need to give Ang Bao after getting married?
In Singapore, most couples will give Ang Bao to parents, elderly, single adults and children after getting married. However, in some families, you do not need to give Ang Bao until you have a child.
Therefore, the best is to follow examples set by your relatives who get married before you.
4. What else do I need to take note?
1.The amount that you are going to give must be an event number and the number should not contain a number 4 as its pronunciation sound like the death in Chinese.
It is good to have a number that ends with 0, 6 or 8. 8 has the meaning of making a fortune.
2.The amount you give to the elderly in the family must be more than the amount you give to the children in the family.
5. Do I need to give more than what I gave last year?
More than 86.3% of the respondent indicated that the amount that they were going to give would be the same as last year. Only 10.3% indicated that they were going to give a fatter Ang Bao this year. None had indicated that they would give less this year. A small percentage indicates that this is the first time that they are going to give Ang Bao.
6. How to use the Ang Bao money that your child will receive?
About 84.5% respondent said that they would deposit all into children's bank account for future usage.
5.2% of the parents indicated that they would keep some of the household expenditure and deposit some into children’s bank account. Only 1.7% of the parents indicated that they were going to keep all the money for household expenditure.
Singapore Child Care Monthly Fee: Singapore child care monthly fee varies from $380 to $2338. Average child care monthly fee is $974 and median is 809. Nationality, type of service, age of child can affect the monthly child care fee in Singapore