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Money, Money, Money: Lunar New Year Traditions

Updated: Jan 23, 2023

Chinese New Year is a time for family, food, and of course, money.


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If you're Chinese, or have Chinese friends and family, you know that CNY is the time of year when red envelopes stuffed with cash start flying around like it's a bank heist. But where did these traditions come from and why are they so important? Let's take a look at some of the most popular CNY money traditions.





First things first, let's talk about those red envelopes. They're called "hongbao" in Chinese, and they're typically filled with crisp new bills, and given to children and unmarried adults as a symbol of good luck and prosperity. But let's be real, as an adult receiving hongbao, it's not really about the luck, it's about the cash. And let's be honest, it's not just the kids who are excited to receive hongbao, we all are!


Another CNY money tradition is the giving of "lucky money" in odd amounts. This is because the number "8" is considered lucky in Chinese culture because it sounds like the word "fat" which means fortune. So, it's common to see stores run .88 cent sales or license plates with a bunch of 8s on it. Now you know why your aunt always gives you $88 instead of $100!


And let's not forget about the traditional CNY decorations, like gold ingots, which are symbols of wealth and prosperity. They're often given as gifts, but let's be real, they're not very practical. I mean, try fitting a gold ingot in your purse or pocket. It's not going to happen. But hey, at least it looks good on the mantelpiece!


To sum it up, CNY money traditions are an important part of Chinese culture and are a symbol of good luck and prosperity. But let's be honest, it's not just about the symbolism, it's also about the cash. So, if you're lucky enough to receive hongbao this CNY, make sure you spend it wisely (or not, it's your money!) and have a happy and prosperous New Year!


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Copyright Make it Shine Media, 2021

Legal Disclaimer: We are not  licensed financial advisors. We offer education, not prescriptive advice. The information that is found here are our opinions and should be taken as such. Some content may contain affiliate links or sponsored content. Any views or opinions represented in this podcast are personal and belong solely to the podcast creator and do not represent those of people, institutions or organizations that the owner may or may not be associated with in professional or personal capacity, unless explicitly stated.

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