On February 12th, it was reported that as people return home for the Lunar New Year, many children are receiving generous money gifts, catching the attention of banks targeting this demographic.
Several banks are marketing towards these Lunar New Year gifts, not only by offering exclusive bank cards for teenagers and children but also introducing special deposit products tailored for these gifts.
Some parents express that saving Lunar New Year money is primarily to cultivate their children's financial awareness, teaching them not to spend all the money and to save it for later use when needed.
According to industry insiders, banks introducing exclusive bank cards and products for children and teenagers might be aiming to "cast a wide net to catch big fish."
Now the question arises: how much money do these children receive? Parents have disclosed that the total amount varies, with some receiving as little as five or six hundred CNY, while others receive as much as fifty or sixty thousand CNY, most of which are kept by the parents.
But that's not the most astonishing part. Take the case of Xiaoyu, a girl from Hangzhou. Every Lunar New Year and festival, Xiaoyu's grandparents give her a big red envelope, along with her other relatives. This year, Xiaoyu, a third grader, has already saved 670,000 CNY from these gifts. Adding to that, she is expected to receive around 30,000 CNY in Lunar New Year money this year, pushing her savings to over 700,000 CNY.
Xiaoyu's mother, Mrs. Liu, who works in the finance industry, divides this money into several parts: the majority, 600,000 CNY, is mainly invested in bank financial products, while the remaining portion will be invested in stocks.
Despite having 700,000 CNY in savings, Xiaoyu only has a few hundred CNY for daily expenses. How do you feel seeing this scenario?
