1. Save Emergency fund, HDB down payment, wedding down payment, car down payment, investment war chest. These are all good reasons to save your Ang Pow money for. Your Ang Pow is like a windfall, and like all windfall, you should try and save preferably 50% of it at least. If you are below 26 years old, you might want to consider Standard Chartered JumpStart savings account - it gives 2% interest on the first $20,000. 2. Invest What good is it if your money is just sitting in your bank account earning that miserable 0.1% interest. Make it grow. Invest in index funds, or stocks, or REITs, or assets that you are familiar with. Never invest in anything you have no clue about. 3. Pay Debts Pay down your debts if you have any. Whether it's a credit card loan, mortgage loan, car loan, student loan, whatever debts you can think of. Including the friends and family members that you owe money  ...