Debt is a double-edged sword. If you use it well, you can create more wealth and reach the top of your life. But if you use it poorly, you will fall into a vicious cycle, leading to heavy debts and even the inability to turn over. HSBC has conducted a market survey before, and the results showed that the current average debt of people born in the 1990s is nearly 130,000 yuan.

Of course, it is not just the post-90s generation who are currently in debt. In fact, a large number of people of all ages are in debt. For example, as of the end of 2018, China’s total household debt was 73.65 trillion yuan, accounting for 82% of GDP. %, accounting for 187% of household disposable income.

What is the reason why everyone is in debt? The reasons for this are quite complicated, but based on the customers we have contacted, I think there are mainly the following reasons.

Our country has always been a country with a high savings rate. In the past, people’s consumption concepts were relatively conservative. They generally spent as much money as they had. Many families were even used to saving some money in order to To cope with some unexpected situations in the future.

However, in recent years, under the influence of various concepts of advanced consumption in the market, everyone has gradually become accustomed to advanced consumption. Many young people have become accustomed to spending tomorrow's money to enjoy today's life. Therefore, even if they have no money, many people still consume at full capacity. Especially with the continuous rise of various online shopping, everyone’s shopping environment is becoming more and more convenient. Things that can be bought easily with a mobile phone can easily be consumed in advance on impulse.

Moreover, many people now have no concept of consumption, because everyone uses credit cards or other consumer credit to consume, and does not use their own money, so they have a number in their mind. Only when the bill comes out will they know what they have spent. How much money has been spent? The final result of this kind of muddleheaded consumption is that everyone's debts will become higher and higher.

At present, everyone’s debts are mainly concentrated on housing loans. For example, as of 2018, the total debt of Chinese residents is about 74 trillion, and the balance of personal housing loans has reached 25.75 trillion, which means that personal housing loans Loans account for about 35% of residents' liabilities.

Of course, I think this 35% ratio is relatively conservative, because the 25.75 trillion data only counts housing loans in the banking system, but in fact, many families currently pay their down payments through debt. These down payment liabilities may be raised through credit cards, consumer loans, or borrowing money from relatives and friends. Therefore, it is conservatively estimated that the current housing-related liabilities of Chinese residents have reached at least 35 trillion.

Why did everyone have less debt and higher savings in the past? Because in the past, there were very few channels for borrowing money. If you wanted to borrow money at that time, you would borrow money from acquaintances except from banks. But in recent years, with the continuous emergence of various financial institutions in our country, there are more and more channels for people to borrow money. In addition to traditional bank channels and borrowing money from relatives and friends, there are also various small loan companies, the Internet You can borrow money from loan companies, consumer credit companies, guarantee companies, pawn shops, and loan shark companies. Compared with banks, these borrowing channels are relatively simple. Most of them are unsecured and unsecured, and many of them only need to be purchased online. You can get the money just by applying, and it will be released directly on the same day.

Precisely because there are many channels for borrowing money and it is very convenient to borrow money, many people will think of borrowing money to solve the problem once they are short of money. Over time, they will accumulate a lot of debt.

By contacting people who often borrow money, we will find a problem. The reason why many people accumulate more and more debt is actually trapped in a vicious cycle. At the beginning, the money borrowed was not a lot. For example, some people just borrowed hundreds or thousands of dollars for emergencies. However, the money borrowed was from some platforms with relatively high interest rates, and the terms were very short. If the money cannot be repaid normally, they will face high penalty interest and liquidated damages. Therefore, many people only borrow a few thousand yuan at first. After a few months, the money will become tens of thousands or even dozens of dollars. Thousands of dollars, this method of borrowing money with compound interest makes many people breathless.

The overall global economic environment has not been ideal in the past two years. Especially in the past year or so, as world trade disputes have continued to escalate, many export-oriented companies have faced great survival difficulties.

Moreover, in recent years, with the continuous adjustment and upgrading of my country's industrial structure, many regions have eliminated some backward production capacity, and many large companies have even moved to Southeast Asia or South Asia. The exodus not only takes away the GDP, but also takes away the related upstream and downstream industrial chains. It is difficult for many small and medium-sized enterprises that rely on such large enterprises to survive. Finally, in order to survive, many small and medium-sized enterprises can only borrow debts. However, they are unable to repay the loans when they expire, so they fall into a vicious cycle of borrowing new and repaying old ones.

In recent years, a wave of entrepreneurship has emerged in various regions. Many people think that starting a business is a wonderful thing, but when they actually do it, they find that things are far from as simple as they imagined. In 10 When starting a business, basically seven or eight people will fail. At present, many people do not have start-up capital when starting a business, so they can only borrow money to start a business. As a result, if the business fails, they will owe a lot of debt. There are still many people like this.

The reason is very simple:

First, it is so easy to get a loan now, all you need is a mobile phone;

Second, there are too many temptations to resist now. If you don’t have the ability, you can only rely on overdraft wealth;

Third, if you want to get rich but don’t have the funds, you can only borrow money;

There are two examples around me. Fully explain all this;

The first example:

My friend’s wife is very obsessed with famous brands. Although she is only a hospital nurse, she is covered in famous brands. Colleagues who came into contact with her thought her family conditions were very good.

But the fact is that because she was too obsessed and wanted to enjoy the praise and face in front of others, she continued to use credit cards for excessive consumption, which later turned into using the card to support the card, and finally developed into loans. Loans support loans.

In the end, I owed hundreds of thousands, and my friend spent all his savings to pay off the debt for her. It was really hateful and pitiful.

The second example:

One of my tenants is a young man born in the 1990s who started a business with his friends. I rented my shop for business a few years ago, but it collapsed within a year, and in the end I couldn't even pay the water and electricity bills.

After asking, I found out that I and several of my friends started their businesses with loans, and now we are carrying hundreds of thousands of dollars in debt and cannot persevere. In addition, I had just started a business and had no experience, so my business was slow and my income could not keep up with my expenses, so I had no choice but to give up.

I asked him what to do next? He told me that I could only consider finding a job and paying off the loan first, which would probably take several years. How many years are there in life?

Conclusion:

In the current situation where loans are rampant and very easy to obtain, many young people have suffered greatly. Not only due to lack of self-control, but also due to the inability to resist temptation and overwhelming vanity. I have even seen people use all their savings to take out loans to buy luxury cars just to make themselves look fat. As a result, I couldn't pay it back and sold it after a few months of operation.

Therefore, recognize your own abilities, take out loans rationally, and it is best not to take out loans, because vicious debt will not do you any good! !

This is a very real problem.

Many friends around me are in this situation. At normal gatherings, everyone is bitter. Those who have several properties in their hands are faced with the pressure of shrinking housing prices and high monthly mortgage payments. They are reluctant to sell, but they may not be able to sell them; those who work in textile factories have no orders for several months and have high daily expenses. , the workers were all disbanded; those who opened restaurants in shopping malls, the malls used to be crowded with people and business was booming, but now there are basically no people in the malls, and there are only a few holidays, and they will close their stores after the end of the year; those doing construction projects, There are few projects, the cost of advance capital is high, and it is difficult to get the money back, which makes me look sad.

Generally speaking, this group of people is pretty good. They made some money in the past few years, but now they are still complaining and feel that they are heavily in debt.

What causes it?

I think there are two points:

1. During the economic downturn, assets shrink, asset returns decrease, and asset costs remain unchanged or even increase;

We Personal or family assets usually come in the form of cash, real estate, cars, bonds, business investments, etc.

In the process of economic downturn, cash faces the risk of depreciation, fixed assets such as real estate shrink, bonds shrink, and the operating activities of investment companies decline, resulting in reduced income. In this case, many people hold a large amount of assets in their hands, but the cost of assets rises. Such as high mortgage loan, asset income decline, such as real estate shrinkage, passive increase in liabilities.

2. During the economic downturn, income will decrease, inflation will rise, and consumption habits will be difficult to change in the short term;

During the economic downturn, as assets shrink and cash depreciates, people’s income It has also been reduced. High debt + low income + devaluation of cash have caused great pressure on people's spending. With the possible inflation of social goods, the imbalance of income and expenditure has become more prominent. At the same time, the consumption habits that have been formed are difficult to change in the short term, which may also increase the burden of income and expenditure.

Therefore, everyone generally feels that the money in their hands is becoming less and less valuable, becoming less and less, and becoming more and more difficult to earn, and it is becoming more and more difficult to spend;

This is There is no good solution for us ordinary people caused by the economic environment. The only thing we can do is to recognize the reality, plan our own income and expenditure status, and actively adjust and respond. Conform to the trend of the times and with the reversal of the economic cycle, we will gradually improve the current predicament.

In today's society, it may be relatively rare if no one is burdened with debt. Chinese people's concept of money has changed. In the past, it was more practical to save as much as you earned, and depositing money in the bank was practical; now, it is more important to borrow and spend as much as you want. Whether it is online loans, credit cards, or even loan sharks, making money mobile is the way to go.

Example 1 around you:

Example 2 around you:

Of course, there are many different reasons for debt. For example, the real economy is not good and investments fail; those who borrowed routine loans with horribly high interest rates cannot pay back; those who overdraft their credit cards to buy a house, resulting in heavy debts; those who borrow bank consumer loans for the sake of a beautiful appearance, and then repay the loans after borrowing them. It's unaffordable...

No matter what the reason is, debt is inevitable for everyone, and life is not easy. But you must have a positive attitude to face it, and work hard to pay off the debt. I wish everyone can get on board as soon as possible!

Everyone around me is lending money and doing financial management. I don’t think they are all heavily in debt. Now because there are legal restrictions on personal lending, they basically choose financial management. The debt you are talking about may be online loans or credit card overdrafts. Some groups of consumers are heavily in debt due to investment and entrepreneurship. Let me talk about the situation around me: Both of my neighbors work. The man earns 12,000 yuan in the hospital, and the woman works as a wealth director in a listed company, earning 15,000 yuan. Both of them get bonuses at the end of the year. In one year, I saved about 200,000, and now have a car, a house and savings. I have a cousin who is a military officer and chooses to choose his own career. He has a retirement subsidy of more than 1 million. He is a plateau soldier and has a salary of 19,000. My wife works in an inspection agency and has a salary of more than 8,000 and has a car. Have a house and a deposit. My friend started working on projects in 2002 and has a deposit of more than 10 million. He has a car and a villa. My friend started working in steel industry in 2008. He has 5 houses, a deposit of more than 2 million, and a BMW and Mercedes-Benz. A neighbor of mine opened a beef noodle business and made about 12,000 yuan a day, making more than 1 million yuan a year. Many of my friends in listed companies are CEOs, regional managers, and financial directors. They all earn well, and few of them have debts. I don’t know what kind of group you are surrounded by.

I met two acquaintances yesterday. Among them, Brother Hua owns a hotpot restaurant. He usually drives a Ferrari luxury car in the circle of friends, while Little Ear owns a home-cooked restaurant. There is always a picture of him and himself hanging on the wall of the restaurant. A group photo of Governor Wang Chaowen, comedian Ma Ji and Zhong Yaoye. As a result, Hua Ge closed his business early and pending transfer and lost contact. Xiao Er was detained because he could not pay the rent and illegally raised funds!

Thousands, 70,000 to 80,000 for Weili Loan, 70,000 to 80,000 for Jingdong Baitiao, a few credit cards worth over 100,000, just a few hundred thousand if you just put it all together, it’s not all money, it’s not all falling from the sky, right?

Tell me why there are so many people in your age group who are in debt. They all consume in advance, relying on Huabei, borrowing, Weili loans, credit cards, and Jingdong Baitiao to support their desires. However, the salary is not up to the level of consumption at this level. This month's salary pays off the debt owed last month, and the salary is basically paid. It’s gone, so it’s a vicious cycle, basically always in debt.

Today’s time, place, people and people are not in a stable state. There is only one sentence, now is the time to hold on, hold on to the current wealth, don’t lose money too quickly; hold on to the current mentality, don’t lose your faith! [Smile]

Regarding the word debt, I not only feel extremely sad! The difficult journey of fifteen years is vivid in my mind, and it comes to my mind! Let me tell you about it!

One night fifteen years ago, a sweet baby cry brought great joy to my little family. I became a father and I was so excited beyond words! The good times didn't last long. When my eldest son was one month old, I found that one third of the bone in his right foot was protruding, and it felt like the bone was protruding! I took my child to the most famous Hangzhou Children’s Hospital in Zhejiang for treatment! At that time, there was an old expert in his 50s. The old expert looked at the child, touched the child's legs and said that there was no big problem with the ring strap! If you go home and take care of yourself, there will be no more! We're back! After 6 months, the child's right foot suddenly fractured. The child kept crying and heartbroken! We took the child to Hangzhou Children's Hospital for treatment. At this time, another doctor asked for a CT scan. It was found that the child had a rare disease called "tibial pseudarthrosis". It is said to be one in a million, a problem in the world, and said to be a chance of cure. Very slim! At this time I felt like the sky was about to step on me! As a man, I thought to myself at that time, no matter what, I must take good care of my children for the sake of them! In this way, I embarked on the difficult and difficult road of seeking medical treatment!

The child has been crying, the fracture is there! After consultation at Hangzhou Children’s Hospital, they decided to operate on their son. The success rate of the operation was very low at 20%. What should I do? This was the first time I had to make a decision. I couldn’t tolerate my son being in such pain. After discussing with my family, I performed the first operation! The operation took a very long time, up to 7 hours, and we waited anxiously outside! Time seems to have stopped there, I will never forget this day in my life! I no longer felt hungry, and I didn’t drink a drop of water for a day. Finally, my son came out! The doctor replied: "The operation is successful, it just depends on whether the bone itself will heal on its own!" After the operation, I went for a review once a week. Our home is a full 200 kilometers away from Hangzhou. At that time, I was afraid that it would be too late to take the train, and it was almost dawn. , I took a black bus at 4 o'clock and went to the hospital to take X-rays and see the doctor. This lasted for two months, and then only once a month. Later, it was said that the operation failed! The bones are neither connected nor long!

After a while, the doctor from Hangzhou Children’s Hospital called again and said that based on foreign experience, the chance of success would be greater this time. It seemed to have brought another opportunity to my son, so I agreed. Operation! The operation took as long as before. I had to wait helplessly and have re-examination after re-examination. I still experienced a period of hardship! Still failed, my son’s leg is still not connected to the bones, it’s still hanging there! The doctor came to talk to us at this time and said: "My son's condition would have been amputated overseas long ago! No need to look at it, he said he can't see anymore!"

These are the doctor's exact words! We are still unwilling to let our children continue like this! We decided that if we couldn’t see Hangzhou, we would go to Shanghai! If you can’t see Shanghai, go to Beijing!

Some time later, I brought my son to Shanghai. I checked online and found that the Orthopedics Department of Shanghai Sixth Hospital is very good! I went to the Sixth Hospital and met the best experts, whose names I won’t mention! The doctor repeated what Hangzhou said to us, saying that surgery was possible, but the chance of surgery was only 50%. After the first two failures, we still gave it some serious thought! I'm afraid it won't work again, and the child's legs will get shorter and shorter! Decide not to move first, and then find a good doctor! At this time, the Internet has developed and information can be obtained at home!

By chance, I discovered a group of patients with tibial pseudoarthrosis. Through understanding, I found out that there was a group of patients with the same problem as my children! Many cured patients were found in this group. It turned out that they were all treated at Hunan Children's Hospital. There was a good doctor there who had returned from abroad and specialized in treating this problem. Finally, he found hope in Hunan and passed several major and minor tests in Hunan. The operation was finally successful and I traveled back and forth to Hunan for five years! This June is the last time to say goodbye to Hunan!

Finally, with my unremitting efforts, it took me 15 years to spend all my savings and go into debt, but I still gave my child a healthy body! You see here, it doesn’t matter if you have some debt! The sun always comes after the storm!

It feels like many people are in debt now, and it is true that many people have no money. Although this is a simple question, the answer is worth pondering...

This table It can be seen that 2019

In 2017, there were 80 billion yuan in outstanding credit card credits that were overdue for six months across the country. Comparatively, it has increased by nearly 10 times in ten years. The data is astonishing. According to public data, in the past ten years, the number of credit cards issued in my country has increased from 186 million to 970 million, a year-on-year increase of 22.8% in 2018, and the total number of credit card transactions has increased from 3.5 trillion yuan to 38.2 trillion yuan, an increase of more than 10 times.

HSBC Bank conducted a survey on my country’s young post-90s generation. The survey results showed that the current average monthly income of the post-90s generation is around 6,000 yuan, but their average debt amount is indeed as high as 120,000 yuan, and the debt is 18 times revenue. The debt ratio of those born in the 1990s is 1850%. In other words, more than half of the post-90s generation’s monthly salary cannot cover their debts!

Survey data shows that among those born in the 1990s, nearly 47.2% of loan borrowers have been overdue, and those who have been overdue more than 10 times account for 4%. Among them, more than 64% of those born in the 1990s borrowed money on more than 4 platforms, and those who borrowed money on more than 20 platforms have reached 9.6%. In addition to repaying housing loans and car loans, 29.6% of the loans taken by those born in the 1990s were to repay other arrears.

The debt of ordinary families in our country is not low. According to relevant data from the central bank's third quarter financial report, as of the end of the third quarter of 2018, my country's total loans were 133 trillion, of which the household sector loan balance reached 46.21 trillion. If based on the above, and including online loans, private loans, and minimum guarantees, it is estimated that the actual overall debt of my country's residents is at least more than 75 trillion. Data shows that my country's household debt ratio has reached 53%, and household debt accounts for 120% of disposable income. 20 percentage points higher than the United States.

Looking at the data of this group is still increasing, how is this caused?

The main reasons are as follows:

Influenced by the United States and the West Waiting for the poison caused by the country's awareness of advance consumption, advance consumption, to put it simply, means using future money to pay for current food, drink, entertainment, etc.

The negative consequences of early consumption in the United States: Early consumption in the United States has caused a serious subprime mortgage crisis in the U.S. economy, causing economic lag, weakening consumption, and accelerating inflation and economic crisis.

Consumption in advance makes people greedy for pleasure and luxury, and becomes a breeding ground for corruption; it is like a drug addiction, and the addicted person becomes ecstatic and unable to stop; once it is contaminated The addiction to consumption in advance is uncontrolled and difficult to break.

I believe that everyone reading this has had the experience of being asked to apply for a card. Those who have worked in the past and have some qualifications will receive a card application notification from the bank and an invitation from the bank manager to apply for the card. Card.

Why do banks do this? Because of the credit tightening by the China Insurance Regulatory Commission, in order to make more profits, banks can only increase the number of card issuances so that some people with insufficient qualifications can pass smoothly. Relevant data shows that by 2019, there will be 970 million credit cards issued in my country, and the average number of credit cards in my country will be 0.5.

If you pay attention, you will find that banks are recommending more and more installment products, including credit card installments, cash installments, loan installments, etc. These are very attractive to young people, and they feel comfortable swiping their cards to spend. Like drizzle, I regretted cutting off my hands afterwards.

The post-90s generation has a distorted view of consumption in advance. They lose themselves and compare themselves. In order to express themselves, they buy luxury goods, live in luxury houses, drive luxury cars, customize luxury travel, etc. They think that they are used well and worn well. , eating well and living well are the ideal living conditions to satisfy one's own vanity, and the distorted psychology leads to a kind of pathological consumption.

Installment business of banks and merchants, the temptation of product discounts; Double Eleven is coming soon, merchants on various websites have laid out their plans early, and advertised discounts and temptations early. How many people have become a shopper, and every time they buy Regret calls for chopping off hands. Today’s young people have very low financial intelligence.

Young people often take out the card and use it regardless of the consequences. When they see good things, they just buy, buy, buy. In the end, they become house slaves, car slaves, and card slaves, and they are overwhelmed by the three mountains. Don't get angry.

For example, if you apply for installment plans to buy a mobile phone or computer, and if you don’t have the money to pay back, you apply for a credit card. Once you get a credit card, your self-control will decrease, leading to unrestricted purchases of clothes, shoes, consumer goods, etc.; If you can't pay back your credit card, you apply for an online loan. This series of actions will eventually produce bad consequences: you will be saddled with heavy debt.

It has had a bad impact on myself and my family, and made me and my parents miserable.

Due to the impact of the world economic downturn and the impact of the Internet economy on the traditional economy, many factories have laid off employees and closed down. Therefore, laid-off people are unable to repay car loans, house loans, and various other loans, and are saddled with heavy debts; There are also some people who blindly start a business or fail to start a business, and they are also suffering from heavy debts.

Mortgage is also the main reason for household debt. Houses have always been a hot spot for speculators and investments. The consistently high housing prices in our country have caused many people to blindly follow the trend and take out loans to buy houses. Mortgage is among the major loans. accounting for a high proportion.

Various small loans, P2P online loans, and lending software are everywhere. Just turn on your mobile phone and you will encounter those who are promoting them.

Most people are tempted to borrow money from these high-interest websites because they can't pay off their bank debts. The consequences are not only that they can't pay off their previous debts, but also that they are tired later, which makes it even worse. In the end, Debts are mounting.

Under the pressure of such high debt, what should we do?

First of all, the state has strengthened supervision, severely cracked down on illegal small loans and online loans, and purified the loan team. Promulgate various policies to implement supervision.

Major banks have also implemented credit card control measures to strengthen the issuance and use of credit cards.

So what you have to do as a debtor is: have a positive attitude and make a repayment plan; get rid of your addiction, don’t blindly invest and consume, and control frivolous consumption; reduce the number of credit cards or reduce your Get rid of credit cards and reduce the use of credit cards; discuss repayment with banks and borrowers according to the outstanding balance, etc.

In general: The current situation is caused by many reasons. Such a large debt can only be contained and digested through national control and the efforts of the whole society. Many people who are heavily in debt and have no money need to correct their mentality and start from themselves, work hard to make money, make detailed plans to repay the debt, and get rid of debt as soon as possible.

In the past, although there were people who were heavily in debt, the number was obviously not as large as the current number. The reason why there are so many people in debt in the current society is caused by many reasons.

The increasing popularity of credit cards and the rise of Internet finance have made credit consumption without any threshold. Banks still have certain reviews for the issuance of credit cards; however, many products for Internet consumption require only one ID card and one mobile phone. The number is directly allocated to the credit limit. The huge credit limit prompts many people to blindly consume in advance, and ultimately cannot afford to pay back, forming a vicious cycle of tearing down the east wall to pay for the west wall.

For many people who are not rich second generation and demolished households, buying a house in the city often requires all the savings of a family. This is just the down payment, and subsequent housing loans, decoration loans, etc. Various types of loans, such as parking space loans and car loans, can keep a family in debt for decades.

If personal income can keep up with the rising level of prices, it may not be burdened with debt. However, in reality, wages have not increased for several years or even declined, or the increase has been far lower than the level of rising prices. , ultimately causing expenses to continue to increase, but income to remain unchanged, so the gap becomes larger and larger, and eventually it turns to borrowing to maintain life.

The factors of being heavily in debt are caused by many factors. Of course, the most fundamental reason lies in oneself. If one has enough self-control and reasonable planning, in theory, the situation of being heavily in debt cannot be formed; the second largest reason is The reason lies in the convenience of borrowing. Before the rise of Internet finance, the only channel for borrowing was banks, which was relatively difficult. However, the rise of the Internet has made lending a threshold-free behavior. Therefore, without the ability to control yourself, blind and impulsive consumption will increase, eventually making you fall into debt.

There are several types of people who are heavily in debt! One is gambling, the other is smoking. In addition to being in debt, you have to spend money in advance! At that time, early consumption was vigorously promoted, and an old lady in the United States said, "Although I am dead, I will live in a new house all my life." An old lady in China said before she died, even though I am dead, I finally live in a new house! The collision of two consumption concepts. We Chinese also benefit from early consumption. So I borrowed money to buy a house, took out a loan to buy a car, paid mobile phones, computers, high-end clothing and so on. In a word, don’t ask for money, just enjoy it first.

So the word debt appeared, and there was a large group of people who were in debt! It’s fashionable to spend tomorrow’s money and enjoy today! Look how cool you are with your mobile phone! Spend with your card in style! I’m worried when the bank calls for payment! well! The salary is too little! The burden is too heavy. There are constant complaints and sighs! Little did he know that my parents’ pension money was all lost! In rural areas, the elderly live in new houses, while their parents live in pavilions! In the city, parents live in old houses and buy new houses for their children! And they all put their pension money on it! well! What's the reason? Who are you asking! I still want to ask you! ! !