Young man, no deposit!

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Source WeChat official account: Extraordinary deep-fried dough sticks

From a small survey, most of the new generation in the workplace in large cities have not much deposits at present, most of which are less than 100000 yuan. But even if they can’t save money, the recent comments of experts about “young people should not fight for savings but for hope” have triggered a “crusade” by netizens. For some young people, savings still play a great role under the pressure of renting and buying a house, living and betrothal gifts or marriage. However, with the progress of the times and the change of young people’s concepts of consumption and life, success naturally does not only depend on the large amount of savings, but can only be said whether to save money, whether to save money, whether to value savings or not.


The new generation in the workplace in most big cities does not save much

Compared with rural areas, young people working in cities have basically better living conditions and earn more income. As for their real income level and the amount of deposits, different cities and different groups should be different.

However, according to the results of the “small survey of domestic youth saving money” jointly launched by DT Finance and Weibo Wallet in 2022, we can still see the real status of some young people’s wallets.

Among the 2093 people who participated in the survey, the proportion of people in the first-tier, new first-tier and second-tier cities was more than 80%. From the age point of view, the proportion of people after 95 and 00 was more than half. From the age point of view, the proportion of people who worked for 1-3 years accounted for about 40%. Therefore, from this survey, we can see more about the income and savings of the new generation in the workplace in big cities.

In the section of saving level of people with different working years, the results show that the number of people with 10000 to 50000 deposits is relatively large, accounting for 23.5% of the survey population. In this category of people with deposits, the majority of people with less than 1 year of work and less than 1-2 years of work, accounting for 36.7% and 36.2% of the population respectively.

That is to say, among the people who participated in the survey, a larger proportion of them have deposits of 10000 to 50000 yuan, and most of them have worked for about one year to two years and saved so much money.

In general, the proportion of people with deposits less than 100000 yuan (including 100000 yuan) is relatively large, accounting for 63.8% of the survey population. In the survey, the proportion of people with more deposits is basically lower, from 7.1% of deposits of 110000-150000 to 0.9% of deposits of 46000-500000.

However, it is “gratifying” that the proportion of people with 500000 deposits in this survey is still 8.7%, higher than the proportion of people with 60000 to 100000 deposits.


? Data source: DT Finance

In this way, among the surveyed people, there are relatively few people with rich wallets, more likely to be young people in cities whose wallets are about to be “empty”.

In addition, it can also be found in the survey results that the longer the working age, the more savings you have. 13.2% of the people who have worked for more than 5 years still have no deposits, nearly 43.6% of the people have deposits of 100000 yuan or less, but 20.1% of the people who have deposits of more than 500000 yuan, showing a polarization phenomenon.

On the whole, no matter how many years of work and how much savings the participants have, their average satisfaction with the current financial situation is not high, with a full score of 10 points. The average satisfaction of the groups who have worked for 1 year or less, worked for 5 years or more or worked for other years is not more than 6 points, the highest is 5.2 points for the groups who have worked for 2-3 years, and the lowest is 4.4 points for the groups who have not worked for the time being.

In the results, 12.9% of young people who worked for less than one year gave their satisfaction with their financial situation a score of 1.

In this level of savings, except for those who have not met the situation of relatively short of money at present, most of the working youth in these big cities, when they are short of money, either choose to ask their parents and relatives for help, or they neither ask for help nor borrow money, but live frugally and bear it.

However, the more prominent point is that with the increase of working years, the proportion of choosing credit cards and bank loans increases with the increase of working years when the money is scarce. Perhaps a small number of people have worked for a long time and have more confidence in their future solvency.


Expert “Young people should not fight for savings” caused controversy

With regard to the topic of savings, after the attention of the new generation of workers in big cities who have not saved much money, a recent paragraph of an interview by Chu Yin, a doctor and education expert at Renmin University of China, has triggered a heated discussion on the Internet. One of the views is that young people should not fight for savings, but should fight for hope.

From the 27-second content of the interview video widely circulated on the Internet, the expert said:

“Saving is not the strength of young people. Young people should not fight for saving. Young people should fight for hope. You may have a difficult foothold in Beijing, Shanghai and Guangzhou. You go to the new frontline. You go to Chengdu and Hangzhou, including many young people, and finally find their way out in this rural area in the fourth and fifth tier cities. It is not impossible, but it cannot lose hope.”

From the perspective of language, the comments of the education expert are indeed reasonable. For example, saving is not a strong point of young people. Because of the high expenditure on renting, buying houses, living and other aspects and the low income or savings just entering the society, young people’s savings are generally not accumulated much, especially those young people who work hard on their own in big cities.

It is also incorrect to say that “hope cannot be lost”.

However, netizens have different opinions on the idea that we should not fight for savings but for hope.

Some comments believe that savings are confidence and support “the years after hopes fail”, or that “savings are a guarantee for young people and a manifestation of the ability to mobilize material resources in the city”. There are also individual statements that “savings are their own, and ‘hope’ is others'”, “most young people do not have savings, and hope cannot be used as food”.

Perhaps such a sentence – “This expert is right, young people should really fight for hope. But where is the hope? The expert did not say” is also easy to resonate with netizens.

As for returning to the fourth and fifth tier cities and even the countryside to work, there are indeed some choices. For those who struggle in the big cities and then become powerless, it may be a way out.

However, for many netizens, such as the “small-town swot” mentioned before, they are struggling to go out from small places, small counties or rural areas. For them, their original hope is to go out rather than return again.

A few days ago, the chairman of 3HFIT made a statement that triggered similar heated discussion:

“We don’t really need to worry that much. If you do one thing and give you 10 yuan, but you like it very much, and another thing you don’t like very much, he gives you 30 yuan. If you choose to do something with 30 yuan, then in fact, what you really sacrifice, especially for young people, is the best time of youth.”

It seems justifiable to just look at it this way. However, the controversial point of netizens is that in their subsequent speeches, they believed that young people should not consider how much money they can earn when they choose to work at the age of 20 to 30, but how much perception youth can bring.

However, for some young people, even at the age of 20-30, they have few choices and retreats to face. Even for many people, 20-30 is the age when they can work hard to earn money and save money. The more they work, the less they can do.

There are many such situations. In fact, some experts’ statements are not completely incorrect, but it should be said that different groups of people face different situations, so not everyone is applicable. Only some experts’ statements are suggestions because they can only be used as “suggestions” for reference.


But for many young people, saving is still very important

So, shouldn’t young people really “fight for savings”? This is not true, because in today’s society, there are too many facts that “savings” can do.

In the survey conducted by DT Finance and Weibo Wallet, participants who have worked for a long time feel the most lack of money when they are facing housing problems such as rent and mortgage.

The second place in the list of things that make people feel “short of money” is different. For those who work for less than 1 year or 1-2 years, they pay more attention to life experience, such as travel, watching performances, etc., but people who work for more than 2 years think they are more “short of money” when upgrading consumption and unexpected events occur.

Some participants also said that “work is not smooth, want to resign for a period of time, but have no savings, and have no confidence”, “choose to stay in the first-tier cities, the first time to rent: just know that in addition to paying the rent for three months, but also take out another month’s rent as a deposit, take out half a month’s rent/one month’s rent to the intermediary fee…”

Therefore, for young people, saving is also very important. It needs to be used for renting houses, living expenses and expenses, coping with unexpected events, or as a way to allow themselves to “resign and rest for a period of time”.

It can be said that renting a house and buying a house are the biggest savings expenditure of young people. Without a certain amount of deposit, it is possible to live without security.

For some young people, it is possible to get rid of single status and not become “single” only by fighting for savings.

Just take the man as an example. When facing a blind date or marriage, many places require a bride price that can be obtained, and sometimes a house and a car. Although the times are improving, these requirements are still rooted in the public’s impression.

As some people think, how can we guarantee our future life if we can’t even get the bride price or the RV. For these young people, the money for the bride price and the garage comes from the savings they have saved hard.

It can even be said that some of the marriage problems of older young men in rural areas have not been solved because they have no savings on hand. Not to mention that they can’t afford to buy houses in cities and towns, and can’t afford to build self-built houses in rural areas. They can’t provide good living conditions to get the approval of the women.

However, because of the huge expense of renting and buying houses, young people can’t save their savings.


In a big city like Shanghai, the average transaction price of commercial residential houses fluctuates around 40 million square meters, reaching 10.5 million square meters at the highest, so even with a small deposit, they can’t afford to buy houses.

Even if you rent a house, you can pay one rent for three, and you can pay the intermediary fee for nearly half a month or even one month. In a place like Shanghai, where the rent of a house less than 20 square meters can be 3000 yuan, you can have a place to live only if you can get the money.

Even though the average transaction price of commercial housing in a random sample of individual cities, such as Shaoguan, Guangdong, is less than 10000 in most cases, it is not easy for a family to buy a house of nearly 100 square meters in combination with the annual disposable income of urban residents in recent years.

Perhaps, for some young people, they really can’t save, but it’s also because they can’t save too much. But when many people are facing problems such as marriage and buying a house, “saving” seems to be more important.

Therefore, in the survey, many participants also said that they would choose to save money by upgrading consumption, leisure and entertainment, daily consumption, life experience, and maintaining personal interests and hobbies. In addition to saving daily expenses and being careful, they would also continue to improve their work income, force deposits, and learn investment and financial management skills to make money.


Of course, the definition of success is not limited to deposits

Of course, what is said above is that for many young people, savings are still very important in terms of bride price, marriage, renting and buying a house. However, with the progress of the times, young people’s ideas about money and life have changed, and some young people do not pay much attention to savings in their own spending.

Still, according to the survey results launched by DT Finance and Weibo Wallet, in addition to 26.7% of people who have clear goals and plan to save money through “planned economy”, 19.6% of people choose to become “king of saving and saving”, “save money and make money” and “make more money and spend less money”, nearly 52.3% of people still choose “let nature take its course” for spending and saving, and think it is rational on the whole, but do not deliberately calculate how much to save.

In addition, at the end of 2022 and at the turn of 2023, 51job conducted a questionnaire on the workplace, with more than 1300 participants.

In the survey, nearly 80% of people are willing to accept “less money” jobs in 2023. Nearly 46% of people tend to choose “less money, less work and less tiredness”, twice as many as those who choose “more money, more work and more tiredness”. Among them, choosing “less money, less work and less tiredness” can often improve happiness.

It can be seen that more and more young people are paying less attention to money and savings.

Similarly, the recent response of Central China Normal University to the video “I: Graduated 5 years, Deposit 5000, She: Master of Communication in China, Hot Pot Shop Cleaning” made this video hit the hot spot again.

On the topic of less savings this time, the netizens’ more comments are not criticism, but to show respect for their choices and admiration for their mentality, just like their alma mater.

This video was released on December 31, 2022. It tells about the current situation of two female students who have graduated from the same college and department.

The female students who graduated from the School of Journalism and Communication of Central China Normal University in 2017 saved only 5000 yuan in five years, while another female student continued to study at the Communication University of China. After graduation for two years, her last job was cleaning in the hot pot shop. But in the video, both of them show a point of view in a relaxed and self-deprecating manner: it doesn’t matter to be a waste.

They also had excellent performance in school, but in the process, they also changed jobs frequently, worked overtime endlessly, overdrawn their bodies, suffered from emotional frustration, and their ideal work was not smooth, and finally fell into the situation of “nothing” and “waste”. But after many “failures”, it is easier to accept your failure, more free, more happy and full of hope for the future.

This also made netizens directly call “curing mental internal friction”.

In response, Central China Normal University also released a response on the official account on February 16, 2023, using four consecutive questions to express its recognition and encouragement of their choices and attitudes.

As the Central China Normal University said in the article, “with the development of the times, the definition of success has not been fixed, let alone the standard answer”, and the amount of savings can not determine whether success or not.

Therefore, for young people, under the pressure of house price and life, under their own choice and pursuit of life, it is not surprising that they can not save money, and it is natural to choose to live happily with less savings. But for some young people who are forced to save and try to change their lives with it, saving is different.

As for the relevant comments of some experts, it can only be said that they vary from person to person and can only be used as suggestions for reference.

reference material:

Latest cover report II | Competing for database_ Caixin Weekly Channel_ Caixin

Huibo Intelligent Investment and Research – database industry depth: business model and development trend analysis, competition pattern and in-depth sorting of related companies

CITIC Securities – CITIC Securities Computer Industry “Building the Cornerstone of China’s Science and Technology” Series Report 23: Database, key three questions in-depth interpretation

Series of special topics (V): database: the key link of innovation__ Sina Finance_

The second special report on the database of depth * industry * computer industry: It is the right time to accelerate the database layout through localization substitution_ Industry research_ Sina Finance_

PingCAP became the only Forrester Wave database manufacturer in China, and was rated as outstanding performer_ Interface News

Aerospace software meeting: the 354th Guoxin Securities to pass the IPO this year has 19.5 orders_ China Economic Network – National Economic Portal

Da Meng Data has passed the meeting: the 409th China Merchants Securities that passed the IPO this year has passed 10 orders_ China Economic Network – National Economic Portal

[China Enterprise Network] Zhu Dan: Understand and use big data to embrace the digital era – National Institute of Development and Strategy, Renmin University of China

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