Wednesday, January 29, 2014

SG Wedding Guru: The Newlyweds Hongbao Guide for Chinese New Year 2014

Gong Xi Fa Cai! SG Wedding Guru would like to take this opportunity to wish all our fans and readers a Happy and Prosperous Lunar New Year. "May the year of the horse gallop you to great health, unlimited happiness and abundant wealth!"
Since it is Chinese New Year, our writers thought it would be helpful to post an article to guide newlyweds through the hongbao minefield. Being newbies, we are certain that many are at a lost as to how much to give.
Here are 2 tips we have put together ...
Budget. A good budget to set aside is half a month's salary for hongbao giving. This is a useful guide as a fixed sum may be too much for a young couple and can be considered too "cheap" for more established couples.
Use Percentages. As Chinese New Year is considered a time for sharing of good fortunes, we believe in using a benchmark like your monthly salary to guide your hongbao giving. As a guide, we advocate giving your parents 10%, siblings 5%, relatives 1% and for all others a hongbao of between 0.2% or 0.3% of your monthly salary. So assuming you earn $3,000 per month, the following is what you would give (you may want to round down or up to end with an 8 for good luck):
Parents: $300 ($308)
Siblings: $150 ($168)
Relatives: $30 ($28)
All others: $6 or $9 ($8)
So there you have it! 2 simple tips that will help you make it through your first Chinese New Year as a married couple.
SG Wedding Guru

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