Spend less and have an enjoyable CNY
KUALA LUMPUR (Jan 22, 2014): Due to the rising cost of living, it is anticipated that many Chinese will be frugal in their spending for the upcoming Chinese New Year (CNY).
However, will this put a damper on the celebration mood? The Federation of Chinese Association of Malaysia (FECAM) Secretary General Chin Yew Sing opined that the community could still celebrate the year of the horse merrily by cutting costs on many fronts.
"One of them is to cut down on the lavish reunion dinners, an innate itinerary of CNY. If you need to have such dinner at restaurants, it does not mean it has to be a lavish one. Some may argue, after all it is only once a year, but ask again do we really need to hold such lavish dinner?
"The other option is having reunion dinner at home. It would be more meaningful and healthier if family members can cook some of the dishes together, and maybe buy only a few of the food items.
"Moreover, it is cheaper to do so," said Chin, who is also the head of the Oriental Strategy Research Centre, a think thank under FECAM or better known through its Chinese name Huazong.
He stressed that reunion dinners were about family spending time together and not about enjoying expensive meals only. Therefore, he believes Malaysian Chinese being a practical thinking community will prioritise their spending for this coming CNY.
Lesser amount of ang pow
Some adjustments can be made on the "ang pow", a monetary gift in a red envelope given during social and family gatherings such as weddings or on the Lunar New Year.
These ang pows are usually given out by married couples to single people, especially to children and the amount of money contained in the envelope is usually in odd digits in accordance with Chinese beliefs.
Giving ang pows is just a token of appreciation, usually by the elders as an act of giving blessings. That is why the amount is not important. People still can continue to give ang pows to their children, nephews and nieces and other relative albeit in smaller amount.
As it is more symbolic, RM1 or RM3 should do, he said.
"We have made many similar adjustments before. Remember during the Asian financial crisis in 1998 where many were retrenched or had to take a pay cut. This is not the first time we are facing the rise in prices," he added.
Spend less on decoration
Chin also explained that the community could also save on home decorations for the CNY as not everything in the house need to be new for the festive season.
"For the CNY, the community like to see red decorations as they usher in the new year. Actually all these can be cut down, depending on how they plan their decoration.
"For example, the Chinese like to put up red lantern as part of the decoration. Instead of using ten, maybe they can put up four or two. Moreover this item can be reused again the following year," he added.
While the community makes adjustments over the rising cost, Chin also wanted to see the government do more in curbing wastage and unnecessary spending. "When the auditor-general points out leakages, wastages or overspending, usually nothing much is done. This is the general perception.
"The government must show to the people that it means business and action must be taken against those involved and the money recovered," he said.
"The government can't just be preaching to the people to adjust their lifestyle with the current situation. Normally, people will only accept such argument if the government, ministers and officials also follow suit," he added. – Bernama
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