When I was growing up, my parents set up a POSB Savings Account for my brothers and me. We deposited our Chinese New Year ang pows into the account every year (well, in the early years, I think it was my parents who deposited it for us, because babies are too short for over-the-counter banking).
We were even taught to save our allowance, to put aside some of it for a rainy day. At one stage, I was so hardcore at saving my allowance, I even went without buying food during recess, bringing food from home instead. Partly because I was saving up for a really cool yo-yo, that the school bus auntie sold on the bus (along with snacks like “rat satay”).
I still remember the old National School Savings Campaign, run by the Postal Savings Bank, later called the POSB. We saved by buying 10 cent stamps, then fixed the stamps on cards until we had $2 of stamps. The filled card would then be dropped off at the bank as a deposit.
I remember there was Smiley the Squirrel, admonishing us to save. I also remember the sticky fingers (mine, not Smiley the Squirrel’s) from handling all those savings stamps. Good times.
So when we had kids of our own, the wife and I also chose to impart this saving ethic to them. I look at their bank accounts now, and feel a little poor but proud. They have quite a bit of ang pow money saved in there.
On a daily basis, they also set aside their allowance. I allow some of the allowance to go towards a toy fund, but there must be some set aside for pure savings.
I lugged some of those coins from their allowance piggy banks to the coin sorting machine recently. It was really heavy but satisfying to deposit their savings for them.
You know what? POSB is bringing back the National School Savings Campaign, supported by MOE. I am quite excited about it. Yes, the saving stamps, the stamp card, and even Smiley the Squirrel.
Find out more about the campaign here and pledge your support.
Parents and primary school students can get their POSB National School Savings stamp card from any POSB/DBS branch, SingPost outlet and at Pacific or Popular bookstores in schools from 2nd February 2015 onwards. Students can then deposit the completed stamp card into any POSB/DBS Quick Cheque Deposit location and earn a $1 bonus (limited to one stamp card per child, per month and only valid for POSBkids account holders).
Sign up here for an ePOSBkids account if your child doesn’t have one.
If anything, stamps will be way easier to carry to the bank than a 5kg bag of coins.
[Image of old POSB stamp card above by Mel Naa, used with permission]