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A Glimpse into College Students' Spending Habits: Report
Source:Chinese Women's Research Network | Release Date:2017-9-12-
Title: A Glimpse into College Students' Spending Habits: Report
Author:
Source: Women of China
Release Date: September 12, 2017
Keyword: Spending, College Student, Credit Consumption, Ant Check Later
 
China's college students spend an average of 1,212 yuan (U.S.$ 186.46) per month and about 20 percent of them chose credit consumption, according to a recent report.
 
Findings showed that the spending varied from region to region. Across the country, youth studying in southeast China's Fujian Province, Shanghai and East China's Zhejiang Province averagely spent the most, at 1,486 yuan (U.S.$ 228.62), 1,467 yuan (U.S.$ 225.69) and 1,411 yuan (U.S.$ 217.08) respectively.
 
Meanwhile, students in north China's Shanxi Province, east China's Shandong Province and central China's Henan Province were the most thrifty at 946 yuan (U.S.$ 145.54), 943 yuan (U.S.$ 145.08) and 933 yuan (U.S.$ 143.54), respectively.
 
In terms of the source of their living expenses, a majority of students were supported by their parents or relatives.
 
Other sources included education loans, financial investment, scholarship and income from part-time jobs.
 
The report showed that college students tended to spend most on food, clothing and entertainment.
 
In terms of gender differences, female students preferred snacks (64 percent), clothes (62 percent), socializing and entertainment (43 percent) and communication and networking (42 percent).
 
For men, the trend was the same, albeit at a smaller proportion.
 
In particular, 16 percent of male undergraduates focused on electronic products, whereas with females the figure was 5 percent.
 
When asked "Does your income cover your living costs?", about 41 percent of students surveyed cited "enough and with some savings" while 27 percent said they "could make both ends meet".
 
Meanwhile, about 24 percent chose "sometimes not enough" with 8 percent for "always".
 
When confronted with "not enough", 41 percent of the respondents said they would give up purchasing things and 40 percent tended to ask their parents for more.
 
Meanwhile, with the emergence and development of online credit services like Ant Check Later, a popular micro-credit company owned by e-commerce giant Alibaba, one in five respondents chose credit consumption, saying "purchase first, pay back later".
 
In addition, 15 percent preferred to borrow from their friends. 
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