China Sees Generational Changes In Savings Attitude

In a Wall Street Journal article this week, the perils of debt-supported spending by Chinese Gen Z-ers and millennials were contrasted with the potential benefits of a hyper-charged consumer economy. The upshot from a macro-economic perspective is that while some amount of borrowing can be good for an economy (leading to job creation and more productivity), it can also lead to unhealthy levels of household debt, which in turn can lead to an overall …
An obvious mechanism to help an individual spend their cash flow in accordance with their financial goals is to employ some sort of budget. But for many of us the idea of constricting any type of behavior, especially the way in which we spend our money, is unpleasant. Even if we label it using the euphemism of a “spending plan.” Volumes of advice and technologies are available to help with the mechanics of putting budgets together and …
If part of your work involves educating others on how consumption can affect their ability to build and maintain wealth, looking for outside patterns of data and trends might be a way to bring an “ah-ha” moment to clients, children, friends, or family members. A string of articles in yesterday’s Wall Street Journal wove an interesting pattern for me, and the interpretation might prove educational for consumers and clients. First, this: Holiday Shoppers Were …
Always a teacher, my father loved uncovering hidden trends in the economy, in consumer behavior, and in marketing research, and then sharing them with others. He loved reading articles in newspapers, cutting them out, making notes all over the margins, and then turning those findings into essays on how individuals approach money. I would share articles and summaries from academic journals with him, and (after grading them) he would relate their scientific findings to …

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