Post-90s become the main force of short-term consumer loans
A "Young People's Consumer Life Report" published by a domestic organization not long ago shows that among the nearly 170 million post-90s in China, the number of people who have opened Tonghuabai exceeds 45 million, which means that 1 out of every 4 post-90s in China Personally own flowers.
But there are risks in using Huabei. The reporter recently interviewed many young people. Some of them enjoyed the happiness of "chopping hands", and some experienced the trough of life when repayment.
What happened to the young people "trapped" by Huabei
Ajie is a senior in Shanghai who graduated this year. Since the second half of last year, he has been doing an internship in a startup company. However, the sudden epidemic caused him and the company to have a difficult time at the same time.
After temporarily unemployed, Ajie started the idea of postgraduate entrance examinations. He could just buy review materials, order takeaways every day, and add a monthly rent of 1,000 yuan, and his wallet quickly bottomed out.
"My own savings are very small, and I don't want to ask for money from my family anymore. I am very mourned every day." During that time, Huabei almost became his only source of "income".
In order to pay back the flowers, Ajie thought of many ways.
At the beginning, I just divided the bill into 6 installments and planned to pay it back slowly.
But as the expenses increased, he could only rely on others to "source money". In addition to borrowing money with "borrowing", he also borrowed 10,000 yuan from relatives at home.
Seeing the repayment reminders sent by Huabei bills again and again, Ajie panicked.
He applied for a job online and found that a nearby courier company was recruiting students for part-time jobs, so he went without thinking.
Every weekend, Ajie will help distribute express delivery, deal with wrong orders, move cargo and clean up in the sales department.
"It costs 16 yuan an hour, and it takes nearly 10 hours of work a day."
Ajie told reporters that after this period of time, he has a new plan for his future. He now plans to find a formal job and take the postgraduate entrance examination while working.
"Huabe's debt will be paid off immediately, and I finally know how important it is to have a deposit," he said.
Like Ajie, Xiaomin born in 1995 was also a "heavy" Huabei and Borrower user.
Two years ago, she and her boyfriend failed to start a business in Guangzhou, and they made a living through Bibai and Huabai.
Xiao Min said frankly that when both of them have jobs, they can make timely repayments.
But when one of them is unemployed, they can only choose the lowest repayment and continue to make up the arrears and interest of the previous month in the following months.
In May of this year, after giving birth to a daughter, Xiao Min and her husband returned to their hometown to live. Xiao Min, who took care of the children at home, will not be able to go out to make money at least next year. The man became the only "pillar" of the small family, plus the high amount of raising children. Expenses put the two under considerable economic pressure.
Because of the difficulty of capital turnover, both Xiao Min and her husband's Huabei have overdue records and have lost the qualification to continue using them.
So after the two decided to make money slowly and pay off the flower, they said goodbye to it permanently.
In the past six months, netizens have racked their brains and resorted to the "36 tactics" on the road to be active.
For example, Wang Runze, who appeared on the hot search in May of this year, gained the position of "deputy store manager" by working at a chicken chop shop and was planning to open a store in front of the school in the future.
Netizen Xiaoyu chose to "throttle", reduce his daily expenses, and make money through second-hand platform transactions to pay back the arrears.
When dealing with Huabei’s arrears, many people’s preferred strategy is to "dismantle the east wall to make up for the west wall" and make up for the "loopholes" through borrowing, Jingdong Baitiao and even other loan channels. This is in Weibo, Xiaohongshu and other social networks. It is not uncommon in the message area of the platform.
Some people were at a loss when faced with large debts and posted online for help.
Some people were even sued by the court for borrowing issues.
Post-90s become the main force of short-term consumer loans
In October 2019, a domestic financial institution released the "Post-90s Consumer Trend Research Report". The report pointed out that the post-90s dared to spend money and are keen to consume ahead of time and are the main force in consumer loans.
According to the survey of Rong360, in terms of age, the post-90s (including post-95s) in China accounted for the highest proportion of the loan population, reaching 49.31%, ranking first among Asian peers, which means that among those using consumer loans Nearly half are post-90s.
In addition, the phenomenon of "financing loans with loans" in consumer loans born in the 1990s is also more common, and the popularity of online loan products makes "campus loans" scams happen from time to time.
On July 27 this year, Huainan, Anhui’s first case of "campus loan" criminal syndicate was sentenced at first instance; on July 30, Tianjin’s first case of “campus loan” criminal group was publicly sentenced and concluded; on August 6, CCTV also exposed A new type of fraud called "write off campus loans".
In these cases, criminals all took advantage of the post-90s habit of "loving loans and advancing consumption".
According to the "China Digital Financial Competitiveness Blue Book Report" released by Ipsos in November 2019, among the consumer credit customers born in the 80s and 90s, consumer credit funds are mainly used for electronic products and household appliances, and The proportion of medical and health staging has increased.
Jiaqi, who was born in 1992, has been a heavy user of Huabei for 8 years. In her opinion, she "eats one person and the whole family is not hungry", and she can hardly feel the pressure of repayment.
On the one hand, I am young and have many opportunities to earn money; on the other hand, I am an only child, and my parents will provide financial support from time to time.
So every time there is a new electronic product or cosmetics on the market, Jiaqi will not hesitate to "choose her hands".
"Money is earned, not saved. You can earn it if you can spend it." Jiaqi told reporters that this kind of mentality is still a lot among her peers.
The Huabei report shows that its instalment business is popular among post-90s, especially when buying mobile phones, 76.5% of young users will choose instalment.
According to the report, most people born in the 90s are rational in their consumption, and about 70% of them use Huabei's credit line within 2/3 of the month.
The reporter noticed that in recent years, the topic of whether "Huabe", "White Tiao", "Bikebe", etc. entered the central bank's credit report has attracted considerable attention from users born in the 1990s.
Some users believe that if credit is not included, the post-90s generation will be more motivated to use Huabei, "because even if the loan is overdue or not repaid, the loan will not be greatly affected in the future."
It is reported that at present, Ant Financial has not officially stated whether consumers will report to the central bank's credit information system after the expiration of the use of Huabei.
However, Huabei is accessing the credit information system. If personal consumption is overdue in the future, "reporting to the credit information system" will become its final choice.
It should also be noted that the "borrow" and Huabe, both of which belong to Ali, are not the same. Borrow is a loan product of Ali Microloan, and the user's borrowing and repayment behavior will be uploaded to the personal credit report of the central bank.
However, it is understood that although there are borrowing records in the report, it may not be 100% included in the credit investigation, but randomly generated.
When consumers apply for loans from banks in the future, banks can inquire about relevant information.
Chang Jia, Wei Ying, China Youth Daily · China Youth Daily reporter Wang Yejie Source: China Youth Daily