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Survey: Youths Suggest Ways to Limit Urges when Spending Money
Source:Chinese Women's Research Network | Release Date:2018-6-25-
Title: Survey: Youths Suggest Ways to Limit Urges when Spending Money
Source: Women of China
Release Date:
Keyword: Youths, Suggest, Ways, Limit, Urges, Spending Money

Most young adults think that personal consumption levels should remain moderate, according to the results of a recent survey carried out by China Youth Daily.

The news organization polled 1,969 youths aged from 18 to 35 to find out their preferences and suggestions about how they spent their money, compared to how much they saved.

Some 30.1 percent said they spent a large part of their income every month; 26.7 percent said they spend less than they earn; 18.2 percent said they spend more than they make; 17 percent said they only spend money on necessities; and, 7.7 percent said they try to save money wherever possible.

When it comes to the factors the youths would consider when consuming, some 53.7 percent prefer to buy products with high cost and performance, and 50 percent would take the practical value into consideration.

Meanwhile, some 13.4 percent would buy a product if other people around them are using it. Besides, those considering the appearance, brand and style when choosing a product account for 45.1, 34.5 and 33 percent, respectively.

In addition, some 62.3 percent would plan before consuming, while 37.7 percent of the youths would buy things on impulse.

Some 52.2 percent said they belong to the so-called "yueguangzu" (the group of people who use up all their income every month) who pursue fashion and a high-quality life, regarding spending as the motivation to make money.

When asked about the reason why some people choose to follow this idea, some 49.4 percent said they have a lower family burden; 43.5 percent said they want to enjoy a high-quality life; and, 43 percent consider it to be irrational.

Meanwhile, 39.9 percent said people's consumption concept has changed along with the development of society.

Some 36.7 percent said some people are affected by comparing mentality with others; 19.6 percent said excessive commercial marketing stimulates their consumption desire; and, 18.8 percent said they want to consume to create more economic value.

In addition, youths made suggestions on how to form good consumption habits.

Some 63.5 percent said people should keep to a moderate level of consumption; 46.9 percent suggested people record their spending, and 47.8 percent said it would be better if people made a plan before spending money.

Meanwhile, some 45.2 percent suggested to save money for an emergency; and, 27.8 percent suggested youths should learn knowledge of financial management.

(Source: Women Voice/Translated and edited by Women of China)

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