THE season of giving is upon us. Whether one admits it or not, we look forward to receiving gifts from loved ones. Gifts can take the form of physical items, gift cheques, an act of kindness or cash. When we receive excess cash, what should we do with it?

This article aims to share a few tips to manage unexpected cash received this holiday season. Parents can relate. Before leaving a reunion or get-together, relatives and friends hand a red envelope, also known as ang pao, to our children. Employees can relate. They get a surprise from their employer beyond their standard bonuses. Freelancers can relate. The principal gives an additional cash incentive because the group overperformed this year.