TOP 5 CHINESE SAVING TIPS!
According to the International Monetary Fund (IMF), their savings rate is at 54.3%. China has one of the highest savings rates in the world.
This is a significant factors in China’s economic growth.
Most of Chinese we knew are known as for having a hardly when it comes to keeping money. Most of them have an ability to save money in a long time. Their savings mindset is just so ingrained in their culture and so in their household their parents make sure that they recognize and they rewarded their children for each household should done and accomplished properly.
Let’s just be very observant of their lifestyle of the way they handle money chinese are very wise and practical in handling money.
Tip No. 1 BUY ONLY WHAT YOU NEED , NOT WHAT YOU CAN USE.
Dont be fall into the track it seems that we need it all of them as we notice if different malls and groceries of ourse that all of them are fits to use it doesn’t mean that we need them all.
Lets be very vigilant and learn from our Chinese neighbors they just go to groceries and buy only one item.You will notice it different malls and groceries they just buy one and go after. However, we Filipinos when going to malls, groceries it seems that we are just chilling inside their but in the process we tempt to try new items around us.
If we are going to malls and groceries let’s make sure that we prepare a list before hand and let’s stick to it. We are not tempt to take side purchase because we dont need it more.
TIPS NO. 2 MAINTAIN A FRUGAL LIFESTYLE
I t doesn’t always have to be branded.
We, Filipinos whoever having a poor status it seems that they are the one who buy a branded who want a branded one. There are many gadgets and a branded items. As you noticed some of our Chinese colleagues have their network of suppliers as you noticed they have a suppliers in meat, rice, and jewelries.
And they willingly share this with their friends and with their friends and with their families. They believe that the more they share these suppliers to them the more they have a chances to have this discount.
TIPS NO. 3 LEARN THE ART OF “HAGGLING”
Dont be afraid to haggling. I think there’s nothing weong with haggling. That’s a win-win situation the owner has a sale at the same time the buyers buy the items what suppliers need to.
So let’s always make sure the we try to haggle and negotiate for items that we will buy let’s also do our own research before hand for big tickets items.Its important to know the going rate of those items to avoid fools. Also learn how to negotiate to know the exact process we want to purchase.
TIPS NO. 4 AVOID HOSPITALS
We need to avoid the hospital very health conscious. As we noticed all herbal medicines like herbal tea, herbal aco punctures, taichi and many others.They always believe that if you maintain a healthy lifestyle you can save unnecessary activities like getting hospitalized, having therapies, treatments, surgeries or medications. Let’s face it very practical. We need to be conscious our health all the time.
TIPS NO. 5 AVOID GETTING INTO BAD DEBTS
And last but not the least Chinese tips the we’ve to learn is avoid getting into bad DEBTS let’s always try to live within our means. In the Philippines instant gratification has already become a way of life unfortunately everytime we see an item even if we dont have the budget for it yet we go put it on the card. We believe that you only live once so that enjoy your life.
