5 Ways To Manage Your Kid’s Duit Raya Wisely

In partnership with ASNB

One of the things that a lot of children look forward to each year is getting duit raya from family members. And as a kid, it’s easy to just take that extra bit of cash and spend it on the latest video games or treats.

But as a parent, figuring out how to balance between saving and splurging your kid’s duit raya can be quite the challenge.

While it’s easier to just let your kids spend however they want, there are better ways to use your kid’s duit raya to not only teach them a valuable lesson about money management but also help secure their financial future. 

How to manage your kid’s duit raya

There are a million and one ways for you to use your kid’s duit raya and we can’t list all of them here. 

Instead, we’ll focus on five ways that we think can help manage your kid’s duit raya that’s both educational and still let them have a bit of indulgent spending. Here’s what you can do:

1. Teach your kids simple money management

You can make the most out of the duit raya that your kids receive by teaching them how to use it wisely, and you can start with something small yet impactful! 

For example, if you want to teach them about the difference between needs and wants, bring them along for your weekly household shopping errand and show them how much your weekly grocery shopping costs to buy food for breakfast, lunch and dinner. 

However, if that amount of money was used to purchase the latest toys or games, there will be less money left in your weekly budget to buy food. 

This gives them a simple, yet important, understanding of the difference between buying something that you need (basic necessities like food and paying bills) and wants (buying snacks or chocolates and toys).

2. Spend it on your kid’s growth and improvement

Investing in your kid’s growth and improvement is never a bad decision as it’s truly one of the best ways to help your child develop skills that can be used in their adult lives.

Using that extra duit raya to encourage them to buy new books or take up fun and educational activities/hobbies such as coding for kids, can be great to help your kids learn new skills and have fun along the way. 

Figure out what your kids are interested in learning and find classes that you can help them apply and pay for using their duit raya.

3. Teach your kids the importance of sharing and charity

One of the major tenets of Ramadan is to give alms and share wealth with those who are less fortunate. In the spirit of Ramadan, donating to charities or causes that are close to your child’s heart and yourself is always a good idea. 

Plus, you don’t have to donate everything, a little bit goes a long way.

Using your kid’s duit raya for donations can be a great teaching moment for your child to understand the hardships that other people go through and how a small bit of charity can go a long way in making someone else’s day better.

4. Indulge/reward your child responsibly

While it’s important to use your kid’s duit raya wisely and responsibly, it doesn’t mean that you shouldn’t let them use it for some treats at all. The saying goes, “All work and no play makes Jack a dull boy” and not letting your kids indulge makes for a very boring life.

So, with the duit raya they’ve got, let them indulge a little with a new pair of shoes or a new gadget or toy that they’ve always wanted. 

Just remember to practise wise spending habits such as staying within their budget, and if possible, spending it on experiences that are worthwhile or items that will make them happier in the long run. 

5. Help put it in an investment with ASB

Helping your kids build their wealth early on is always a smart decision to make. With the duit raya that they’ve received, you can invest it in low risk funds such as ASB and ASB 2 by ASNB.

ASNB is one of the most trusted platforms for Malaysians (kids included!) to start their investment journey. ASNB offers a diverse range of funds that can help diversify an investment portfolio. Not only that, they provide a number of benefits such as:

• Low entry with a small initial investment of RM10
• A variety of products that cater to both Bumiputera and non-Bumiputera Malaysians
• The potential to deliver stable annual dividends, making them an attractive investment option
• Available to start investing early for your children and even at birth (with your child’s birth certificate!)

As a parent (or a guardian), putting your kid’s duit raya into ASB or ASB 2 account allows their money to potentially grow and help build a stable financial future. 

If you want to take full advantage of ASB for your kids, you can also set up their Auto Labur feature to consistently add funds to the account and further continue to build financial security.

Celebrating Hari Raya with Labur Ceria Si Cilik

Give your little ones a head start with ASNB’s Labur Ceria Si Cilik campaign. Save your children’s duit raya in an ASB or ASB 2 account and watch it grow! The first 3,000 participants to open an account and invest will be able to earn up to RM50 in duit raya. The earlier you instil the value of money in your children, the more financially secure they will be.

You can set up an account for your child with 3 simple steps:

1. Prepare the appropriate documentation (birth certificate, parents’ myKad, etc.)
2. Visit ASNB branch or agent
3. Start investing with a minimum of RM10

Right now, ASNB is running their “Labur Tanda Kasih”, which rewards you with an RM10 Touch n’ Go eWallet voucher when you set up and register for their Auto Labur feature.

All you have to do is follow the 2 simple steps below to get started:

Step 1: Set up the Auto Labur on the myASNB for your child or yourself with a minimum investment of RM100 in a single transaction.

Step 2: Make sure the first deduction is completed between 1 April – 31 May 2025.

And that’s it! You’ll receive your RM10 Touch n’ Go eWallet voucher.

*Subject to Campaigns’ terms and conditions.