Why I Love Saving Money & How It Changed My Life ｜ Ex-Finance in Shanghai [LS2OnPFio9c]
Why do Chinese households save up to 30% of their income, while in the US it's around 3%? 💰 Hi, I'm Bella Wong. I live in Shanghai and spent eight years working in finance. Today, as I deposit my 2.5-year-old daughter’s Lunar New Year red envelope money into her bank account, I found myself reflecting on a question I get asked all the time: Why do Chinese people save so much? From the iconic phrase "Gong Xi Fa Cai" taught to babies, to the famous parental promise "I'll keep it safe for you," saving money is deeply woven into Chinese culture. But it goes far beyond tradition. In this video, I share: ✨ How the red envelope tradition shapes our relationship with money from childhood. 📈 The practical reasons behind high savings rates: healthcare, education, homeownership, and social safety nets. 📖 My parents' story—how growing up in times of scarcity created lifelong habits of financial prudence. 🕊️ My personal journey leaving my finance career, and how saving money didn't just give me interest—it bought me time, freedom, and the power to choose. Every generation searches for security in its own way. My parents saved so they would never go hungry again. I save so I always have options when life takes an unexpected turn. What does saving money mean to you? Let me know in the comments below! 👇 #PersonalFinance #China #SavingMoney