Yan Xiaofeng

Recently, campus loans are prohibited: no online lending institution is allowed to issue loans to college students. However, there are still endless consumer loans targeting young people in society. Among them, the post-90s generation has become the main force in short-term consumer loans. What about the "trapped" young people?

Nowadays, young people no longer like to save money, but like to spend money. The new generation of Chinese people is changing the country's ancient financial management tradition - from loving to save money to loving spending money, it only takes one generation.

A "2018 China Pension Prospects Survey Report" shows that about 56% of China's younger generation under the age of 35 have not started saving for retirement, and some young people are in a state of "zero savings and high debt". It is a tradition for their parents to save money for retirement.

Dare to spend future money, this kind of change comes from young people. To put it simply, parents who love to save money raise children who love to overdraw. The story of Chinese old ladies and American old ladies buying houses has been passed down for decades. Now young Chinese people have also learned to use loans without deposits.

Recently, Nielsen, a data analysis organization, released the "Report on the Debt Situation of Young People in China" stating that only 13% of people born in the 1990s have no debt, which means that 87% of them have debt. What type of liability? Be a slave to credit cards and other cards!

Of course, businesses will see business opportunities. The young generation born in the 1990s have huge consumption potential, and credit consumption has become an important way to upgrade consumption.

As mobile APPs are more convenient to use, payment methods are more convenient, and credit cards are readily available, in short, "spending money without feeling" has become the norm - just click with your finger, and you will spend not only money, but pleasure!

The survey also found that when they have difficulty repaying loans, most young people will first seek help from family or friends. 87% of young people have never been overdue in the past year. But there are also 3.6% of young people who often overdue their loans and use loans to support their loans. Some people even fell in love with online loans and fell into the trap of loan sharks.

In my opinion, it’s time to wake up because some people born in the 1990s dare to spend their future money and become “new poor”.

What is the "new poor"? Most of them are highly educated white-collar workers. Their income is similar to that of blue-collar workers, but they spend more and are poor... Their wages are limited, but they have a strong desire to consume, especially in the hope of borrowing luxury goods or A-grade goods to enhance their taste and pursue status.

The "new poor" are young white-collar workers in first- and second-tier cities. Judging from their small bank accounts, they are truly poor. Some even rely on more than five credit cards to maintain a decent life.

Judging from the bank statements, they have a lot of income, which is completely different from those poor people who have tight income. They make a lot of money, but spend more, chasing famous brands, elegance, petty bourgeoisie, glamour... Some people become "card slaves" or are forced to borrow loan sharks or even "naked loans".

What about LV bags, Gucci perfume, Cartier accessories, Omega watches... The powerful magic of buying and buying is not so much that it can bring self-satisfaction, but rather that it creates a kind of freedom for oneself. hallucination. Such advanced consumption has caused some "new poor" to fall into new poverty and be unable to extricate themselves.

There is even a saying on the Internet: those born in the 1980s can only spend 3,000 if they earn 10,000, while those born in the 90s can only spend 15,000 if they earn 10,000. This sentence very intuitively illustrates the advanced consumption concept of those born in the 90s. .

No wonder many people have this impression of those born in the 1990s: the beat generation, Buddhist youths, who do whatever they want. Now, those born in the 90s still dare to go into debt! Of course, this only involves some young people, and most people are still forging ahead.

As for daring to go into debt, young people are very eloquent: "Now I feel more and more that only the money I spend is my own money. Instead of being deceived by financial managers and investing money in various investment institutions, let them take over one after another." If something goes wrong and you run away with the money, you might as well spend it yourself." It seems reasonable.

Another reason why young people dare to spend their future money is that financial management is relatively loose now and credit consumption is easy. As of 2017, a total of 588 million credit cards have been issued in my country, of which cardholders born in the 1990s accounted for The ratio has exceeded 30.

Another reason is that Alibaba has launched many loan methods such as "Huabei", which encourages young people to take loans and even consume blindly. The "2017 Young People's Consumption Life Report" released by Ant Financial's "Huabei" pointed out that among China's nearly 170 million post-90s generation, the number of people who have opened "Huabei" exceeds 45 million, that is, on average, one in every four post-90s generation 1 uses "Huabei". A consumer credit survey report on college students shows that nearly 64% of college students who use Huabei use Huabei to buy electronic products, luxury goods and cosmetics.

In recent years, we have often seen various news about the post-90s generation falling into abyss due to borrowing, such as naked loan, routine loan, campus loan... Digital money does not seem to be money, and electronic currency is to a certain extent It weakens people’s sense of reality of “spending money and feeling distressed”.

Those born in the 1990s are generally only children and enjoy the love of their parents alone. At the same time, as Internet natives, their consumption concepts have become more open, and their daily lives pay more attention to their own quality of life and self-feeling. And "showing off wealth" in the circle of friends has pushed up young people's desire to consume to a certain extent. "I know I'm poor, but when I see something I can't help but want to buy it." So young people born in the 1990s have embarked on the road of "buying."

If you have no savings and dare to go into debt, you must have rich parents who love to save money. Because parents born in the 1990s are a large group that accumulates wealth in society. Of course, there are also situations where a rich child comes from a poor family. Even if you are poor, you have to borrow money because your peers are all competing with each other.

To be honest, in fact, those born in the 1990s are not living that cool life. After the young people born in the 1990s entered the society, life began to become difficult, and problems such as housing, household registration, work, marriage, and childcare came one after another. In a high-pressure living environment, it is not ruled out that some young people use "consumption upgrading" to relieve anxiety, and use "Huabei", credit cards, online loans, etc. to overdraw future cash flow to satisfy the vanity caused by "consumption supremacy" , to escape the pressure of reality.

At present, some young people show a lack of "economic emotional intelligence" when it comes to consumption. The so-called "economic emotional intelligence" refers to people's ability to deal with self-awareness, risk management, value orientation, utility maximization and other aspects in the consumption practice of modern commodity society, and specifically refers to the qualities and abilities demonstrated by certain consumption behaviors. Among the four categories of "advanced consumption", "luxury consumption", "human consumption" and "virtual consumption", young people have more or less irrational consumption behaviors. How to supplement "economic emotional intelligence"? Learn from the masters, or learn again through an economic crisis, but it will be too late to learn from the latter.

The "China Pension Prospects Survey Report" mentioned at the beginning also shows that among China's younger generation (under 35 years old) who have started saving, their monthly savings are only 1,389 yuan.

Recently, there was a report saying, "With a monthly pension of 3,000, how can low-income elderly people spend their old age peacefully?" I saw the following comments:

One said, "Then you estimate It’s similar to me. The late 80s and early 90s were the most miserable years. We really didn’t catch up on the good things, and we didn’t escape any bad things. When I was in school, I didn’t even have nine years of compulsory education. I had to pay tuition fees from elementary school to junior high school every year! A hundred yuan, five or six hundred yuan at that time was not a small amount of money!"

Another person complained about the farmers, "The monthly pension is 3,000 yuan, and the basic meal is guaranteed, and the elderly in rural areas only have 108 yuan! , we should consider how they survive. They are both descendants of the Chinese nation, so why is there such a big gap?”

There is also a golden saying, those born in the 1970s “will be bitter first and then sweet”, and those born in the 1980s will be “bitter first and then sweet”. "Bitter", the post-90s generation "is sweet first and then bitter".

Why are people born in the 1970s "bitter first and then sweet"? If you know how to prepare for a rainy day, those born in the 1970s will be able to live a good life. Why do people born in the 1980s "suffer first and then suffer"? Because their parents were born in the 1950s and suffered hardships, so of course they also suffered as they were older and younger. Why do people born in the 1990s become “sweet first and then bitter”? Because I dare to spend future money and overdraw the future.