In the past, you had to pawn all kinds of things to borrow money. Now there are so many advertisements for small loans that you only need to provide personal information such as ID card, bank card and mobile phone number.
Prices are rising rapidly, so it is better to save money to increase the value than to invest.
Many people borrow money not because they have no money to spend, but because the value-added of their savings is too poor. It is better to spend more money on other investments with higher returns.
Young people's social circle is getting narrower and narrower, and they are unwilling to borrow money from acquaintances.
In the past, many people did not refuse to borrow money, but tended to borrow money from acquaintances and relatives, and only chose to borrow money when they had to. Nowadays, many young people's social circles are getting narrower and narrower, and they are unwilling to involve too many interests in a limited circle. So many people are more inclined to borrow money when they are short of money, so they don't have to owe others.
With the skyrocketing housing prices, young people have lost the idea of saving money.
Most people in China save money to settle down. In the last century, many people worked all their lives and worked hard to save money basically for children and buying a house. But now many young people pursue carpe diem, and they are all moonlight clan. Part of the reason is that they find themselves saving money by working after calculation. Even if you don't eat or drink for decades, you can't afford a house in a big city. When the "goal" becomes unrealistic, you lose the motivation to work hard for it.
P.s., tell me something about yourself. When I was in college, some students used P2P peer-to-peer lending, and the interest was getting higher and higher. As a result, P2P closed down on a large scale, many online loans were found to be illegal, and high interest rates did not have to be paid back. Maybe this is one of the reasons. Usury always makes people break up their wives and children, and now the law is constantly improving. If you encounter illegal lending, you can defend your rights through law, and the audience will naturally be wider.