Personal Finance
Giving Your Parents Monthly Allowance? Here’s How You Can Make Full Use Of It!
By Seedly  •  June 26, 2018
< BACK TO MAIN BLOG 26th June 2018 Turns caffeine into digestible finance content. You can contribute your thoughts like Ming Feng here.

Giving your parents monthly allowance is one way Asian demonstrate their values of being filial piety. It is every child’s responsibility to ensure that their parents are taken care of when they retire. In fact, failure to do so can get one involved in a lawsuit under the Maintenance of Parents Act, and an increased chance of getting smitten by lightning.

81% Of Us Give Our Parents Monthly Allowance

We conducted a survey on our Facebook Group to explore how much Singaporeans are giving their parents. Out of the 85 responds we received, 51 allocated less than 20% of their take-home pay as their parents’ allowance, while 18 responds state that they will do the same with 20-30% of their salary.

If you do give your parents a monthly allowance, is the way

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By Seedly
Launched in 2016, Seedly helps users make smarter financial decisions with its budgeting app which allows its 40,000 users to sync up their financial accounts and better manage their cash-flow. Last year, we introduced a new community feature which allows users to crowdsource knowledge from peers before making a financial decision.
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