Should You Let Your Children Keep Their Ang Bao Money?

Find out what is the most balanced way according to parenting experts and real-life parents

With the Lunar New Year coming, preparing ang baos to give to the children of relatives and friends are part and parcel of the tradition. And if you have kids, they will no doubt be receiving ang baos from others too.

But the question a lot of parents ask is whether they should let their children keep their ang bao money to enjoy?; or, should they safekeep the money and give it to them bit by bit, or perhaps bank everything into a bank account which they can only access in the future? This especially applies to younger children in Primary Schools or Secondary Schools.

Whichever method you choose, there’s no right or wrong. But the main question you should be asking is whether as parents we should give children cash rewards, and to what extent?
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Here, we adopt a balanced view on whether parents should use incentives (cash or gifts) to motivate their children. Read on: