China House Slave: Find the other half in life quickly, and then the two will mobilize their parents to take out all their savings and all their relatives and friends to borrow as much money as possible. Every minute of their life is to raise money.
American house slaves: don't buy luxury goods such as high-priced juice; Mexican food is the first choice for dining out, because there are free French fries and cheap side dishes; When they have to buy clothes, they only buy the cheapest brands. Every minute of their life is to save money.
To buy a house.
China House Slave: I eat breakfast and dinner at home, bring food from home at noon, and never eat out. Take the menu in the "save money contest" as the standard for three meals a day.
American house slave: I don't even look at the daily necessities above $50. If I can't save money, I buy discounted cloth and make my own tailor.
After buying a house.
China House Slave: In order to afford a house and turn over as a master as soon as possible, I have settled my home in a satellite city on the outskirts of the city, which is n kilometers away from the center of Beijing. Commuting is as hard as the Long March.
American mortgage slave: I left all the cabinets in this house where I could put them. For this house, I moved my wedding to another country-Canada, where the price is cheap and the cost is lower.
For many young people, the income is relatively low, and it is probably not easy to buy a house by their own efforts. But to form a family at this age, they often need a stable residence, so buying a house has become a major event for them to consider. If you don't have enough savings, you should borrow money from relatives, friends or banks to buy a house.
However, in the years or even longer before and after buying a house, young people must gradually repay their loans. If the monthly and annual repayment amount is too large, their economic pressure will be great, so house slaves will appear. They have to reduce their other consumption demand for the house.
Although China's house slaves and American house slaves have both become "slaves" of houses, and both are striving to make money for houses, there are still obvious differences between them, and so are the creditors.
4 How to raise funds
China House Slave: Based on "Cross-belt Transfer"
Borrow money from relatives and friends, especially from parents. This way is called intergenerational transfer of consumption. To achieve intergenerational transmission, parents must save money for their children.
For many ordinary families in China, a couple who have been busy for most of their lives may only do two things, one is to save money to buy a house for themselves, and the other is to save money to buy a house for their children. When these two things are solved, I have entered the old age and have little time to enjoy life.
American house slaves: mainly "intertemporal transfer"
One way to raise funds is to borrow money indirectly from yourself, or young people borrow money from middle-aged people. When people reach middle age, they often earn more than they spend, so they can save some money. A lot of money borrowed when you are young, you have to pay it back in middle age, so the pressure is shared.
This method is called intertemporal transfer of consumption. If we walk into American life, we will find that parents generally don't use their own money to buy houses for their children and let them solve everything by themselves. Therefore, the inter-temporal transfer of American young people only involves themselves and will not sacrifice the happiness of other relatives and friends.