Chinese New Year is celebrated with joy and tradition, symbolising a fresh start and renewed hopes for prosperity. The festival marks the beginning of spring and the start of a new year according to the Chinese Lunar Calendar. The significance of Chinese New Year is deeply rooted in history and continues to be the most important occasion for generations of families to reunite and spend time together.
Chinese New Year is also believed to be significant for ensuring good fortune in the coming year, with many religious traditions and beliefs holding great values. As we welcome the Year of the Snake, equip yourself with investment knowledge; being proactive about financial wellness can help you embrace opportunities and navigate challenges.
Financial wellness involves more than just saving money in the bank. It encompasses achieving a balance between earning, spending, and saving to ensure long-term security and happiness. Key aspects include having a clear understanding of your financial situation, setting realistic goals, and making informed decisions. Achieving financial wellness requires discipline and consistency, but the rewards are worth the effort. It allows you to handle unexpected expenses, reduce financial burdens, and build a secure future for yourself and your loved ones.
Managing your finances begins with analysing and understanding your current financial situation. Create a budget, track your expenses, and identify areas where you can save and invest. Setting financial goals and developing a plan to achieve them is crucial. Remember, the key to financial success is consistency and discipline. Creating a budget is the first step towards financial control. It enables you to monitor your expenses and gain a clear picture of your financial health. Understanding your spending habits helps you allocate funds for savings, debt repayment or future investments.
Building a prosperous future involves a combination of savings, investments, and financial planning. Each component plays a vital role in ensuring long-term financial stability. Saving provides a safety net, investments grow your wealth, and financial planning helps you make informed decisions.
Take the opportunity to enhance your financial future when you receive angpao money from family members and friends or bonus remuneration from your employer. Allocate a portion of your funds to save in the Alliance SavePlus Account* (Protected by PIDM up to RM250,000 for each depositor) as an emergency fund to cover unexpected expenses and provide a financial safety net. The Alliance SavePlus Account offers competitive interest rates of up to 3.00% p.a. and easy access to your funds via the allianceonline mobile app with flexible withdrawal options.
Investing in unit trusts can help diversify your portfolio and achieve long-term financial growth. These investment options provide professional management and a variety of funds tailored to different risk appetites and financial goals. Unit trusts invest in a diverse range of investable assets, which helps spread your investment risk. They are managed by experienced fund managers who assist you in making investment decisions and efficient asset allocation. Additionally, unit trusts often have lower minimum retail fund investment requirements, starting as low as RM100, making them accessible for everyone, including first-time investors.
For those with young children, teaching them to save money can be both educational and enjoyable. Use this opportunity to convey the importance of money management and instil good savings habits from a young age. Explain in simple terms how saving can help them purchase things they desire or prepare for their education. A clear savings jar and labelled with their savings goal can be an effective tool in educating your children, helping them grasp the fundamentals of savings. Encourage your children to open an Alliance BuddyTM Account as their first step into money management and the first product they will have with a bank. Equip them with financial literacy knowledge by helping them understand that their money is well-kept and secure in their Alliance BuddyTM Account (Protected by PIDM up to RM250,000 for each depositor).
The tradition of giving angpao during the Chinese New Year has evolved over time. Angpaos are not just gifts; they symbolise good wishes, prosperity, and blessings. Today, digital angpao has gained popularity, allowing you to send and receive the “blessings” easily and securely through digital platforms such as DuitNow. This modern approach enables you to uphold this cherished tradition while embracing technological advancements.
In the past, people could only shop at physical stores and had to visit multiple locations for price comparison to get the best deals. Today, we can conveniently shop online, anytime, and anywhere without hassle through e-commerce platforms. Additionally, you can optimise your spending by taking advantage of the additional discounts and perks offered by e-commerce platforms and the bank’s promotion when using credit card during the festive season.
For Alliance Bank Visa Credit cardholders, you have a chance to get up to 50% cashback of up to RM118 every week* and win a luxurious trip for two to Switzerland worth RM50,000* when you participate in the Alliance Bank Visa Credit Card Chinese New Year Campaign. All you need to do is spend with your Alliance Visa Bank Credit Cards in any of the following categories weekly; groceries, shopping, travel, dining and/or overseas spending from 1 January to 31 March 2025. *Campaign terms and conditions apply. Another great news is that you can now enjoy greater convenience when making payments with your Alliance Bank Visa Credit Cards as they are now fully integrated with Samsung Pay and Google Pay.
One of the most significant traditions is gathering family members for reunion dinner on Chinese New Year Eve. The reunion dinner symbolises family unity, togetherness, and honouring the ancestors. Preparing for the reunion dinner can be challenging as you need to consider the total number of family members, and the types of dishes or you may opt to pre-order ready-cooked dishes from restaurants. Don’t worry! Alliance Bank has partnered with Foodpanda, an online delivery platform that offers a wide range of food and grocery delivery services in Malaysia. Take advantage of this exclusive partnership of Pandalicious Eatsperience Campaign offering a complimentary 6-month pandapro subscription to newly signed up Alliance Bank Visa Credit Card customers. This exclusive partnership with Foodpanda runs from 1 January until 31 March 2025, on a first-come, first-served basis and is subject to campaign terms and conditions. In addition, Alliance Bank Visa Virtual Credit cardholders are entitled to receive RM68 cashback upon activating the card and making a cumulative retail spend of RM200. For those who have yet to experience the abundance of goodness that comes with the Alliance Bank Credit Cards, sign up now and start paying with it to receive these amazing rewards!
The key to a prosperous future lies in making informed decisions today. As The Bank For Life, we strive to understand our customers’ needs and provide financial solutions to pave the way towards financial wellness and stability. Evaluate your current financial situation, set achievable goals, and explore the various banking products that can help you reach those goals.
Remember, fortune favours the bold and the informed. Happy Chinese New Year and may your wealth and treasures fill the hall! 恭喜发财! 金玉满堂! 财源广进!
Alliance Bank Malaysia Berhad is member of PIDM.