Good news unmarried singles and children celebrating Chinese New Year — the going rate for red packets this year has risen to $8 according to polls by the United Overseas Bank (UOB) and SundayLife!.
Reportedly, the average budget for hongbaos for the Year of the Goat is $817, an increase of 13 percent from last year's average of $722.
As a whole, UOB's survey reveals that Singaporeans will spend an average of $2,345 to celebrate the Lunar New Year, with 67 percent of the respondents indicating that they'll be putting the money received in their savings account.
If you're a parent, you'll be glad to know that you'll be receiving the highest amount in their red packets — an expected amount of $209. Grandparents can expect getting $106, parents-in-law get $174 while siblings get $98. Friend's children get the minimum amount of $8, but hey, free money is free money.
Photo: Jimmie via Flickr
Good news unmarried singles and children celebrating Chinese New Year — the going rate for red packets this year has risen to $8 according to polls by the United Overseas Bank (UOB) and SundayLife!.
Reportedly, the average budget for hongbaos for the Year of the Goat is $817, an increase of 13 percent from last year's average of $722.
As a whole, UOB's survey reveals that Singaporeans will spend an average of $2,345 to celebrate the Lunar New Year, with 67 percent of the respondents indicating that they'll be putting the money received in their savings account.
If you're a parent, you'll be glad to know that you'll be receiving the highest amount in their red packets — an expected amount of $209. Grandparents can expect getting $106, parents-in-law get $174 while siblings get $98. Friend's children get the minimum amount of $8, but hey, free money is free money.
Photo: Jimmie via Flickr