facebookCNY Ang Bao Rates 2022 Breakdown & Why We Think Some Ang Bao Guides Are Unhealthy
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230122 CNY Ang Bao Rates 2022 Singapore Guide

CNY Ang Bao Rates 2022 Breakdown & Why We Think Some Ang Bao Guides Are Unhealthy

profileMing Feng

The Chinese have a meaningful tradition where married people will give a red packet (ang bao) to the unmarried (mainly children).

Source: Young Parents

The actual significance of this tradition is mainly on the red packet, and the money that comes in it is secondary, and an add on bonus for the recipient of the ang bao.

The meaning behind giving red packets during Chinese New Year is a way for married working adults to share their wealth and blessings with the young ones.

On top of that,Β red colour in Chinese tradition signifies:

  • Good luck
  • Happiness

While the money in the red packet signifies the gift of fortune and luck.


TL;DR: Chinese New Year 2022 Angbao Rates Guide For Singapore!

So… How much money should you be giving in your CNY Ang Bao?

While the gifting of an Ang Bao is really meaningful.

Things get a little complicated when money gets involved.

After doing our research and polling the team, we came up with this guide:

RelationshipAmountReason
Parents/ In-laws/ Grandparents$288 - $888Out of everyone, parents should get the most as a sign of respect and filial piety
Husband to Wife$288 - $588Husbands can opt to give their wives ang baos and vice versa

But this isn't a common practice in modern households
Siblings$58 - $288Depending on how old your siblings are and whether they are working, this is a safe and reasonable amount to give
Own Children / Grandchildren$58 - $288Some parents choose to give more, but this is a general amount that most parents give

This rate is also most commonly adopted by grandparents as well
Cousins/ Nieces/ Nephews$10 - $28They are not immediate family members, therefore can be given lower ang bao amounts
Friends/ Children of friends$6 & $8As these are people who you would give the most out to (assuming you have a small family), you might want to keep the budget lower for this

Avoid the number '4' as the number sounds like die in Chinese
Public workers $6 & $8This may be for the migrant worker that cleans your block, maids of relatives, etc.

Should I Peg The Ang Bao Rate To The Inflation Rate?

Source: Giphy

For those who are a little more into finance, the inflation rate may play a key role in determining the Ang Bao rate during Chinese New Year.

I remember back in 2003, $2 was kind of the minimum for Ang Bao rates.

Let’s take this and factor in the Monetary Authority of Singapore (MAS) Core Inflation from 2003 to 2021:

FYI: MAS Core Inflation is a measure of the Consumer Price Index (CPI) which measures the weighted average of prices of a basket of common consumer goods and services; minus private road transport and accommodation costs. These two costs are excluded as they do not affect the day-to-day outlay of most Singaporean households and are subject to short-term fluctuations.

YearConsumer prices inflation rateMinimum Ang Bao rate
20030.5%$2
20041.7%$2.01
20050.5%$2.04
20061.0%$2.05
20072.1%$2.07
20086.6%$2.12
20090.6%$2.26
20102.8%$2.27
20115.2%$2.34
20124.6%$2.46
20132.4%$2.57
20141.0%$2.63
2015-0.5%$2.66
2016-0.5%$2.64
20170.6%$2.66
20180.7%$2.68
20190.6% $2.70
2020-0.2%$2.69
20212.1%$2.75
2022TBC$2.75

Yep, the minimum Ang Bao rate should then be $2.75 for 2022.

Determining the “CNY Ang Bao Rates” For 2022

Well… we did a little research online and averaged the rates we found.

And also polled the Seedly team to get a feel for what they think is the ideal CNY Ang Bao rate.

After that, this is what we got:

RelationshipAmountReason
Parents/ In-laws/ Grandparents$288 - $888Out of everyone, parents should get the most as a sign of respect and filial piety
Husband to Wife$288 - $588Husbands can opt to give their wives ang baos and vice versa

But this isn't a common practice in modern households
Siblings$58 - $288Depending on how old your siblings are and whether they are working, this is a safe and reasonable amount to give
Own Children / Grandchildren$58 - $288Some parents choose to give more, but this is a general amount that most parents give

This rate is also most commonly adopted by grandparents as well
Cousins/ Nieces/ Nephews$10 - $28They are not immediate family members, therefore can be given lower ang bao amounts
Friends/ Children of friends$6 & $8As these are people who you would give the most out to (assuming you have a small family), you might want to keep the budget lower for this

Avoid the number '4' as the number sounds like die in Chinese
Public workers $6 & $8This may be for the migrant worker that cleans your block, maids of relatives, etc.

Frequently Asked Questions On Giving Ang Baos During Chinese New Year

Source: Giphy

Rules of Giving Ang Pow: Who Should Be Giving Ang Baos for CNY?

Traditionally, only those who are married will give ang baos to the younger ones, or those who are single within the first 15 days of CNY.

As for colours, most ang baos are red in colour as the colour red symbolises luck, joy and happiness. Colours like pink and gold are fine too but avoid dark coloured ang baos at all cost.

This may vary from different families, so there is no hard and fast rule, at least.

Is There a Minimum Ang Bao Amount to Give?

Source: Giphy

There’s no hard and fast rule that says that you have to give at least $XX amount in your ang baos.

But, you should refrain from giving ang baos that end in odd numbers like $5, or $7, as according to Chinese tradition, odd numbers are not auspicious.

You should also avoid giving ang baos with amounts that end in 4 like $4, $14 and $24 etc. as the number 4 sounds like die in Chinese.

Instead, you should give ang baos with amounts that end in 8 like $8, $18, and $28 etc. as 8 sounds like prosper in Chinese. Not to mention that the number 8 in Chinese culture symbolises wealth and success.

Ang Bao rates are however dependent on hierarchy.

As seen above, usually those who are closer to you will receive a higher ang bao rate.

That said, it should also be dependent on your financial situation, and you should always give within your means.

Should I Really Follow an Ang Bao Rate Guide?

While it is convenient to come out with a guide for everyone to follow, maybe it is time to take a step back and reflect on the values that will be translated down to the next generation.

Some of the Ang Bao guides we see circulating online can lead to unhealthy values being passed down.

Indicating the income bracket and pegging it to a rate can result in the younger generation receiving Ang Bao judging their relative based on the amount they give.

Judging your relative based on income bracket is definitely something to avoid, and the meaning behind this meaningful tradition should not be lost in translation due to money.

Chinese New Year (CNY) Angbao Rates 2022

Besides wrapping ang baos for Chinese New Year this year while enjoying some socially distanced CNY games, don’t forget to order some good CNY food in advance, and toss some yusheng for good luck!

If you’re the lucky one who’s still receiving ang baos this year, you might wanna find out how you can maximise this extra money too. πŸ˜‰

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About Ming Feng
A stint in Bloomberg gifted me with a beer belly, which only grew larger when I moved on to become a Professional Trader. Now I turn caffeine into digestible finance-related content.
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