Business is Personal (Finance)

I previously wrote our Christmas spending was low but didn't think we'd get off so easy for Chinese New Year. Well that day is one week away now (February 14 for this year) so we've been busy getting ready. One of the tasks was stuffing money into red envelopes. By custom, those married give lucky money to the unmarried. However, married couples often elect to give to their parents also to "enjoy a nice meal" (rough translation). And those doing better can elect to give lucky money to younger siblings not as well established. Here is our lucky money budget for this year:

My parents                    $400
My wife's parents  2000 rmb ( $293)
My wife's brother  1000 rmb ( $147)
Close relatives
 100 rmb X 10      1000 rmb ( $147)
Close friends
 100 rmb X 10      1000 rmb ( $147)
Acquaintances
 20 rmb X 25        500 rmb (  $73)
-----------------------------------
TOTAL                        $1206

Back in the U.S., we typically might give away $600 but receive back $500 for our kids. Many friends with the same number of kids will simply give back the same amount they received. But here in China -- as the "rich foreigners", we probably will get back 10 RMB for each 100 RMB we give away. At that ratio, this Chinese New Year will cost us about $1000. For this reason, many Chinese immigrants will not return to China for a visit/vacation until they save up enough money to pass out as presents. (Or they return to China and hide away from friends.)

(Filed in china, spending)