6 Things Singaporeans Waste Money On During Chinese New Year
And clever ways to save on them - even now!
Back when you were young enough to pay 55 cents for bus rides, Chinese New Year was like a goldmine. You’d show up at your relatives’ homes with one of those little purses you could sling around your body, inside of which you stashed all your ang baos.
WATCH THIS VIDEO:
How To Save Money By Making Leftovers Last
https://players.brightcove.net/4802324438001/default_default/index.html?videoId=5737008766001
These days, whether you're still single or you're a married person, doling out ang baos to random kids, Chinese New Year can still be a huge money sink. It's natural that we all want to enjoy the festivities - especially this year. But sometimes we also want to stretch our dollars as far as they can go. We hear you! So we found surprising costs to beware of - but practical ways to stretch every cent at CNY and still enjoy the fun:
Hordes of Singaporeans flock to hotels the day after the reunion dinner on Chinese New Year, desperate to get a bit of peace and escape their nosy relatives.
If you haven’t already booked your staycation or cruise to nowhere, you risk paying more than the usual price. Especially if you want a more private option, like a hotel room with a private pool, or a room with spa package included.
We won't even discuss air travel this year because it's really not an option for most families, what with complicated VTL rules and omicron warnings. Plus most countries won't even accept un-vaccinated younger children.
If you have missed out on booking a hotel staycation this CNY, consider other ways to get a bit of peace and quiet. Maybe a luxury picnic just for two, or a couples spa day. Or take a drive to an out-of-the-way restaurant with views that make you feel like you're not in Singapore.
One of the perks of CNY is that you get to stuff your face with lots of festive goodies like bak kwa and pineapple tarts.
But retailers of Chinese New Year goodies jack up the price without fail every year and the closer you get to CNY, the more you can expect to pay.
That means if you haven’t bought your pineapple tarts, cornflake cookies, nian gao or bak kwa ahead of time, you can either rush to buy them now - or make your own.
Even if you're not much of a chef, it's a fun bonding activity with the kids and a topic of conversation with your guests. "You made this yourself? So clever!"
Next year, you’d do well to place your orders with the various sellers weeks or even months in advance. One pineapple tart seller we spoke to this year claims they reached their order quota during the Mid Autumn Festival last year. Whoa!
It can be hard to book tables at a Chinese restaurant at Chinese New Year without being made to pay inflated prices. But this year daily visitors are capped at eight people per household, per day.
So even if you've missed out on making a booking, you can cook your reunion dinner at home. If the whole meal is too much to manage by yourself, you can maybe order in some dishes or tidbits from restaurants and hawkers? This way you're helping others with their business, and taking some of the pressure off yourself.
Just do a few of the dishes yourself (you'll find a gazillion recipes on womensweekly.com.sg). This way you can order the most expensive ingredients, eat like an Emperor and still save money.
And next year, start booking your reunion dinner way in advance.
A tradition that many families follow is buying fresh blooms and lucky plants for their homes. But during CNY, plant nurseries and florists bring in flowers that are set to bloom during the festive period and charge accordingly for them.
People buy peonies, bamboos and kumquat plants that add up in price. If you get the fancy cherry blossoms and orchids, each pot can cost around $100 or more.
To find festive plants for cheaper, it's worth joining your community garden project or joining Facebook groups interested in urban gardening. Many swap plants for free.
Living plants decorated with red and gold paper decorations can look amazing at Chinese New Year. To find free and discount plants, Try Facebook group @Swapping of plants (Free) in Singapore or @Home Gardening Singapore or @Plants trade Singapore.
Text: MoneySmart / Additional reporting, Tara Barker. Updated December 2021