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Here’s how the Chinese save so much money. China’s Gross Savings Rate is 45.9%. Meanwhile, data in the US suggests that the savings rate is closer to 3.5-5%.
How is it that the Chinese Save SO much money? I explain in today’s video! Enjoy.
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Timestamps:
0:00 – Intro
0:27 – Stats on Savings
0:54 – Why Chinese Are Excellent At Saving
3:22 – Demographics
5:19 – The Secret
6:54 – 4 Factors the Chinese Prioritize
7:32 – The 10:1 Rule
8:50 – Factor 3
10:11 – Factor 4
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first rule of saving….don't spend
U look like an ughyur man. Very good looking.
Thanks for sharing 🙏
Happy New Year 2024! 🐉 🧧
Hope you get rich 👋🏾
hcny! it's literally today
Someone thought me to count how many hours i need to work for the item i want. Then wait for a week and if my want doesn't change and i want to spend hours of work to buy it, then and only then buy it.
How come the one who buy luxury items are Chinese like Gucci,#1 consumer of Gucci are Chinese people? Look 8:34 at the luxury stores in the Western countries, they always/most have Chinese sales associate to accomodate their Chinese clients
This is the way I budget. It's the only way that makes sense to me. I need to know where every penny is going and what's happening. I am though more flexible and allow for money to eb and flow. I mean what does it help you to work like crazy and not enjoy some of your money. If you don't know where your money is going you tend to overspend. Also using cash tends to make you spend less. When you scan your debit you are more mindless about it.
Don't gamble & buy hookers is a great start.
start at 7:16
This should be a taught in high school to everyone. Everyone wonť listen but some will.
It's spaghetti in there…
If you know you know 😂❤
The trick is to be a stingy ✡️ x100 😅😂
People look-down, unfairly(their loss) on chinese style. They got into debt traps to sub-prime crisis to high-interest debts. If they had known financial-prudence and financial-intelligience and real-world top-of-the-game in finance… Instead of watching brainwashing movies and listening to luddites charismatic presentation…
Culture, religions, society, … Educational… Business sensibilities, emohasis on budgeting-costing and costing-budgeting… Internal-inter-departmental cost-centers and no-profit-centers but turns-returns profits… If these women office-politics had been remotely fair towards theories-concepts instead of unqualified-unjustified words…
Uneducated religious talk big in singapore. Aussie-outback, american red-necks and british cockney and , … You advertised your countries until, there is no meed for tourism to third world mentality
Mate, I live in Australia, you said Chinese don’t indulge themselves to luxurious items? Sorry but that’s not true at least in Australia, LV Chanel Lamborghini brand new BMW… most of the time… Chinese buy them!
great video! really interesting information 👍
and I know it's off-topic, but, I have a question. 4:03 "people using contraception in a way to avoid female births"
… huh?
… how can you use contraception to select the gender of a baby…
My dude going to completely ignore the extreme horrors of Communism as a reason why Chinese save so much…
I am watching this again many months later- fast forward to China now- lack of people to take care of the aging population and people now not wanting more children despite the government being desperate for babies. How did that work out?
I remember a jewish lady was trying to sell me something at the mall and she tried to pressure my wife to pressure me to buy it but I kept on refusing…. Then she asked "me are you jewish"? "You must be Jewish. Your to cheap!"😂… I am not even Jewish or Chinese. But I'm proud to say. I am Chinese cheap!
122 males to 100 females…there has to be a problem to solve for them that can be a very profitable business.
Where's the secret? This is just pretty standard practices for people without money that have some common sense and self-control. its good advice, but not really a Chinese secret, i was promised chinese secrets and all i got was reliving my childhood in rural America 😅
is your ID you show of your dad look like in Vietnam not in China, 🤔🤔 Anyway nice insights.. 👍
Maybe it’s also because China is a bunch of communist. Non faith based slavery promoting country
Consumer spending is a huge engine for the US economy. Just picture if everyone in the US started saving 45% of their income
The video quality is exquisite🤌
Off the subject: Have you done a DNA genealogy test? You may have some ancestors some generations ago from other places.
I go shopping @ thrift stores/offerup/ craigslist. Everything i buy has to be used. I stopped buying my fancy coffee drinks & learned how to make them myself. I have an old '04 civic. I enjoy cookong & learning new recipes.
Great advice
i hope your dad is still alive. Thanks for the video – Straight from Jamaica
What you are sharing is not specific Chinese, it's common economical sense. I am Italian and grew up exactly with those principles. It was my mother who took care of that and in my retirement age I am glad she did. 😊
You work for 40yrs to have $1M in your
retirement, meanwhile some people are putting just $10K in a meme coin from just a few months ago and now they are multimillionaires.,.,..,
I think the humble aspect of the Chinese culture has gone out the window these days… it’s all about buy buy buy…
Yes, Chinese are know to be good with money but that also makes them incredibly stingy and miserly. Everything is calculated and there seem to be no room for grace or generosity.
number one tip eat food out of the trash
Yes, it helped. I want a new car but can’t justify the cost as I have to two that newer vehicles that I can rely on.
Another useful Chinese rule: avoid making money for other people. 😂
Don't have high interest debt. Don't pay for everything on credit. Don't buy things at full price when they can go on sale. Don't pay for the bells and whistles and extra service when you can live without them and do things yourself.
With that last name, I thought you were Hmong lol
Chinese people are great savers, terrible investors…. Family and Friends distrust the Stock Market, think the Stock Market is one big casino
(speaking from experience)
I bought my wallet for 25 cents at yard sale. Going on3 yrs with it. People can learn alot from various cultures. Chinese ; dont buy unless it serves its purpose over long time, Jewish, a Jewish man vs a Gentile, the gentile will learn a skill like welding so he can get s job as a welder but a Jewish man will with same training as Gentile use that skill to start a business and the businessman will always make more money than the worker., Amish, every Amishman will have a business oon the side along with his regular job. Such as he may work at a place that makes rafters for buildings but his side job is selling a nutrient rich liquid beneficial to healthn ao on.theres so much to learn.
I'm not a Chinese person but i'm thinking and acting the exact same way lol 🤑 🤑 🤑 🤑
That image with the cigarette was completely horrific and unnecessary. Goodbye.
Your flippant attitude toward the way the Chinese government controls and harms people is disturbing.