While credit services are popular among young people, it seems that the post-90s generation are remaining rational while spending their future money in advance, Workers’ Daily reported.
42.1 percent of young people only take out loans for personal consumption and will repay them in that same month, with many settling their bills within the interest-free period, a recent report said.
Instead of burdening young people with debt, credit services have actually made life easier for them, since they are interest-free within a certain period of time, said Wang Xiao, a post-90s person fond of credit cards and other financial products.
90 percent of the post-90s generation use Huabei, Alibaba’s micro-lending service, to save money, and are clear that they won’t buy things they don’t need.
A report on youth lifestyle showed that the young generation is not obsessed with purchasing luxuries. Instead, more and more young people are willing to pay for spiritual experiences, such as travel.
Young people are also extremely curious about individualized and new products. By paying for certain products and services, they are actually expressing their beliefs, ideas and lifestyles.
Young people in big cities or with higher incomes and educational backgrounds tend to run up more debts, which will drive them to work harder to make money.
In fact, many post-90s people pursue part-time jobs to broaden their sources of income. They are confident in their ability to earn money and feel more free to spend their potential income in advance.