Original article from:
http://www.tianya.cn/new/publicforum/Content.asp?
strItem=free&idArticle=1033577
This post got hundreds of replies from a Chinese forum. In this post, the wife, with a full-time job, listed out her monthly expenses, which showed her family in an tight financial situation, and wanted to seek advice from others on the website.
The monthly income of her family was over 20,000 Yuan(more than 1300 Pounds), which was within the higher income earners’ range. Let’s have a look how she spent the money, and bear in mind that she lived in ShenZhen while her husband lived and worked in another city.
Rent 1500 Yuan
Mortgage payment 6300 Yuan
Family grocery bills(including husband) 2000 Yuan
Utility bill 600 Yuan
Land-line+mobile+Internet bill 350 Yuan
Work Lunch 300 Yuan
Party and socialising 800 Yuan
Preschool class tuition 800 Yuan
Child interests class 800 Yuan
Health Insurance and Car Insurance 750 Yuan
Books 200 Yuan
Clothes 1000 Yuan
Entertainment 500 Yuan
Fund investment 3000 Yuan
Medical expense 500 Yuan
Total 19800 Yuan
Unsurprisingly, this post received many unwelcoming comments, considering the lady was bragging off her wealth and extravagant living style, since her family income was much higher than most city white-collar families in the country. As they said, many overspend were avoidable, such as child’s education, clothes, because 1600 Yuan per month on a preschool age child was ridiculous, bear in mind that thousands Chinese families lived on 1600 Yuan monthly earnings.
Many lower income earners expressed their bitter sympathies that if the lady could be less extravagant, she should be fine. A few people made different versions expense list, exampled as below:
expense list for a cleaner couple
monthly salary: 600×2=1200 Yuan
extras: 200×2=400 Yuan
Income total: 1600 Yuan
Pay Out
Food bills: 50 Yuan (Packs of cheapest noodles, basic condiment like oil and salt. Free lunch and dinner provided by company)
Cigarettes: 10 Yuan (smoke leaves)
Rent: 250 Yuan (A 15 square meter room with a small toilet)
Utility bill: 20 Yuan (They have no television to save money)
Telephone bill: 10 Yuan (They have a pay as you mobile)
Transport fare: 8 Yuan ( Walk most time)
Socialising: 0 Yuan ( They meet friends at company dining hall)
Book: 0 Yuan ( They picked up books from litterings)
Insurance: 0 Yuan (They are healthy)
Clothes: 20 Yuan ( They buy from wholesale market)
Entertainment: 0 Yuan (Play cards or chat with friends)
Medical bill: 10 Yuan ( Buy cheap necessary pills, and avoid visiting doctors)
Share and fund investment: 0 Yuan ( Too far away)
Pay-out total: 378 Yuan
Yearly income: 1600×12=19200
Yearly payout: 378×12=4536
Yearly savings: 19200-4536=14664
Of the responders, there were ones in similar shoes. Most of them lived and worked in economically advanced big cities such as Shanghai, Guangzhou and Shenzhen. Living expenses nearly tripled compared to inland cities. It was really natural to spend money on quality life, otherwise what’s the meaning for working that hard. Almost all higher income family tried to put some money in saving, but they could not save many after they paid mortgage and other living expenses. However, there seemed to be a wiser man, who earned also 20,000 Yuan. He had paid off mortgage for first apartment, and started another one. One expense he did not have was child, which significantly made them financially better off, not to mention he got extra income from renting out his apartment. His advice was to live with what you have chosen, and moan less.