Learning about finances through hongbao and games

Experts advise teaching financial literacy to young children and some parents do it with hongbao collections and board games

For Chinese New Year last year, Ms Esther Tan and her husband let their children spend three $2 notes from the hongbao (red packet) money they collected.

Nathan, aged seven, and Phoebe, five, were each allowed to buy three $2 items from the Daiso store, while their parents save the rest of the money for them.

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A version of this article appeared in the print edition of The Sunday Times on January 27, 2019, with the headline 'Learning about finances through hongbao and games'. Subscribe