Nowadays, credit cards, Huabei, Jiebei, Baitiao and other credit services are emerging in endlessly. As the post-90s generation is the mainstream consumer group, various lending services have already nourished their advanced consumption concepts. They habitually buy things that exceed their consumption level. Over time, their debts increase day by day, but their consumption level has no tendency to converge. 21-year-old Xiaowen (pseudonym) is currently facing such a dilemma.

Xiaowen, who lives in Xi’an, Shaanxi Province, is 21 years old. In 2017, Xiaowen started using credit cards after being introduced by his classmates. "At the beginning, my credit card only had a limit of 3,000 yuan, so I spent it slowly. Later, the limit increased as my consumption continued to increase. Because I had no job, no income, and I couldn't get a credit card, I started to apply for credit cards from various banks." Xiaowen said: "Most of these cards are applied online. I only need to fill in the company name. I even entered the company phone number blank, and the application was completed smoothly."

In addition to credit cards from various banks, Xiaowen also borrowed money from Internet lending platforms such as Huabei, Jiebei, Huanbei, JD Baitiao, etc., and repaid the loan by tearing down the east wall to pay for the west wall. In less than two years, Xiaowen owed more than 200,000 yuan in debt, and all the money was used only for his own consumption. Xiaowen said: “Because you have to swipe money out of the POS machine to withdraw cash, I didn’t realize how much handling fees would be deducted for cash withdrawals. I just wanted to pay off the last card as soon as possible, and I slowly accumulated it until one day. I calculated it myself and found that the handling fee for swiping a POS machine is more than 3,000 yuan, but I have no choice but to withdraw the money and pay it back."

In the past two years, Xiaowen has not known where his money is spent. Just spend money in such a stupid way. During a quarrel with her mother, Xiaowen told the story. After learning the truth, Xiaowen's mother, Ms. Wang, was almost heartbroken. "My daughter is usually very obedient and wears ordinary clothes. I really didn't expect that such a problem would arise." Ms. Wang said with some resentment: "My daughter failed to pass the college entrance examination that year, so I enrolled her in a training class. Sometimes she asks me for pocket money, and I give it to her, but sometimes I won’t give her pocket money if she doesn’t work hard or take it seriously.”

Ms. Wang divorced early and runs her own business at home. A small craft studio, this is her source of income. Ms. Wang collapsed when she learned that her daughter owed so much money. "I usually run a small business to take care of my basic life. Now I owe more than 200,000 yuan. It will take me five or six years to pay it off without food or drink. If normal expenses are excluded, I don't know how many years it will take to pay it off. "After discovering the problem, Ms. Wang has forcibly taken her daughter to major banks to reconcile and cancel her account, and applied to the bank to blacklist her daughter so that she can no longer lend to her. Most banks agreed and complied. But some banks refused.

This makes Ms. Wang worried, fearing that her daughter will not be able to recover and will fall into borrowing and spending again and be unable to extricate herself. At the same time, Ms. Wang also has doubts about the bank's loan form. "My daughter applied for a card but couldn't pay it off, so she applied for another credit card to make up for the money on this card. But if the bank can have regulations, if a card can't pay off the money, other banks will I don’t understand if I can stop opening a credit card for her to resist the child’s desire to spend. Why can I open so many more cards if I can’t get enough on one card?” Ms. Wang said helplessly.

After seeing how difficult it was for his mother these days, Xiaowen also realized his own problem. Now she just wants to work hard to make money, make up for the loan hole, and then start a new life and be a different person. The costs and consequences of excessive consumption are often very painful. I hope that everyone can consciously resist bad consumption concepts, consume in moderation, and act within their capabilities.