IT’S Chap Goh Mei, the 15th day of the Lunar New Year, marking the end of the current celebratory period for the Chinese. According to custom, this is also the day you should open your angpow and count the moolah you’ve received.
It is believed that you only open your angpow on the last day of Chinese New Year so that your good luck accumulates through the festive celebration. Congratulations if you have held on to all those urges to open your angpow; you have great determination! But if you have taken a peek, it’s okay! We’re sure your good luck won’t escape with just a peek. After all, you earned it (okay, it was given to you!) fair and square (with your most innocent and sweetest smiles).
While you carefully peel each angpow and calculate the money you’ve harvested this year, you would probably already have a wish list of what to spend the money on but, whoa, hold your horses because mom and dad didn’t teach you about saving when you were young for nothing right?
The smart approach would be to use the money to grow more money so you can double the fun goals you have in mind for greater satisfaction. And talking about this whole idea of delayed gratification, here are some suggestions on how you can spend or save your angpow money, smartly.
Give Yourself A Boost
Take the opportunity to sign up for courses on self-improvement or take part in activities that will add value to your current career. This is a great way to pick up a new skill that will help you advance in life. We should constantly better ourselves and move forward in order to stay competent, so self-development is definitely a good investment for your angpow money.
But hey, saving your angpow money can give you a boost too, especially for those rainy days in the future.
Pay Off Your Credit Card Debts
If you have outstanding credit card debts due to overspending on new outfits for the Lunar New Year now is the time to pay it off. You will be surprised to know that the compounding interest rate on your credit card balances can quickly snowball, even if the amount is small. Let your angpow money help you kick-start the year with a clean bill.
When you have paid off your credit card debts, what shall be your next step? Easy! You’ll have more money to put into a savings account or grow your money in a fixed deposit.
Invest In ‘Fun’ Money
All work and no play makes for a dull, dull life. According to a millionaire mindset coach, we should always allocate some money for play because it will help to keep us sane as we continue to make the daily sacrifices to earn more money. Put aside 10% of the angpow money as “fun” money that you can use whenever (and how ever) you choose, just to spoil yourself. In the case of your children, use this money to buy or subsidise the cost of a gadget or toy they have been pestering you for a long time. This will definitely put a smile on everyone’s face.
Imagine this. By saving your angpow money, you will get to see it grow and, at the end of the year, you will surely have more “fun” money in your pocket for you to enjoy. Wouldn’t you just love that? More fun times!
Continue To Spread The Smiles
The Lunar New Year angpow money may seem like a windfall to you but, to the less fortunate, it may be a privilege they will never get to experience. Why not take 10% of your angpow money and donate it to a charity of your choice, or hold a small new year celebration with an orphanage so they too can feel the warmth of a family reunion as well. You can also use the angpow money to buy groceries for a charity homes. As they say, happiness is all the more meaningful when it is shared.
Book A Year-End Vacation
Your bucket list is getting longer and you are desperate for a vacation. Hang in there a little longer. A seasoned traveller once said that we should use angpow money as a deposit to book a year-end vacation and pay off the rest through interest free instalments. That way, you can spread out the expenses to lighten the burden and still go on at least one vacation at the end of the year. Not a bad idea, wouldn’t you think?
All said, what if we tell you there is a way for you to save and stand a chance to win a free trip?
This Chinese New Year, OCBC wants you to ENJOY MORE even after the celebrations have concluded.
OCBC Bank is offering a promotional Fixed Deposit rate in conjunction with its Post Chinese New Year Deposits Promotion from 20 February to 31 March 2019. The rates are 4.20% p.a. for a 12-month tenor and 4.00% p.a. for 6 months. Having a vacation in mind this year? Well, we have great news for you! When you deposit with OCBC Bank during the campaign period, you will also be in the running to win the Grand Prize of a 4-5 star 8D6N Korea + Jeju Island Tour Package or other fabulous prizes including branded household appliances from the Lucky Draw*. If Fixed Deposits are not your cup of tea, check out OCBC 360 Account, the savings account that rewards you with bonus interest just for performing your monthly banking transactions or perhaps the OCBC Booster Account, a savings account that gives your savings a boost when you combine it with your investment. Just deposit RM10,000 into your new or existing OCBC 360 Account or OCBC Booster Account to gain an entry to the Lucky Draw. Simply more exciting rewards when you save with OCBC Bank.
*For the full terms and conditions, please visit www.ocbc.com.my/fdluckydraw
