With that elephant in the room that threatens to blow up the current situation, the return of Trump to the presidency of the United States and those theoretical tariffs on China, the nation lives immersed in its own crisis with an economic slowdown and a market complicated job, especially for young people. If a few months ago we said that many had decided to “become” birds tired of everything, now there is a major challenge that is going viral on the networks. Survive with a minimum “payment” per month.
70 dollars a month on food. In the midst of the uncertain economic outlook in China, The Washington Post reported this weekend that thousands of young people have adopted what they have called the radical savings challenge: feeding themselves with less than 500 yuan a month (about $70).
This movement, known as “proud frugality” in the nation, is gaining popularity on platforms like Xiaohongshu, where participants share photos of their meals, break down the cost of their meals, and seek to improve themselves by further reducing their monthly budgets.
From conspicuous consumption to strategic austerity. In reality, the phenomenon marks a cultural turn. As Nikkei explained a few months ago, in some ways the new generations are leaving behind the opposite, that conspicuous consumption of recent years when the Chinese elites shamelessly displayed luxury cars, extremely expensive watches and brand accessories.
In fact, we have already told it before, companies such as the all-powerful LVMH, a world leader in luxury goods, have reported a drop in sales in China, reflecting this change now reinforced by the latest challenge. In contrast, the middle class seems to be adopting a more austere life, prioritizing, for example, home cooking and savings strategies in the face of a pessimistic economic context.
Stories of resilience. For example, the case of Xue, 28, who lost her job as a financial advisor in Shanghai after a recession in the technology industry. Before, he led a comfortable lifestyle, with frequent trips and regular shopping. After becoming unemployed, Xue was forced to cook at home, managing to reduce her food expenses by two-thirds. Now, with a budget of 332 yuan (about $46), he says he buys basic groceries online and takes advantage of deals. He even plans to maintain his frugal lifestyle once he gets a job, with the goal of avoiding living paycheck to paycheck.
There is also the case of Zhao, a 32-year-old engineer who decided to join the challenge while working temporarily in Beijing. He combined the diet with his goal of reducing expenses, finding inspiration in simple and cheap foods such as bread, milk or vegetables. He found that he could spend less than 20 yuan a day cooking soups, fried rice or makeshift hotpots. The approach was not only sustainable, but allowed him to reflect on the efficiency of his diet and lifestyle.
Or save for a house. Here we have as an example the case of Helena Lui, 30 years old, who decided to face the challenge with one underlying idea: to achieve her goal of buying a house. As a university professor in Henan province, she already lives rent-free, but was looking to cut her food expenses, which previously amounted to about $100 a month. Like the rest, through simple meals like steamed buns and vegetables, Lui has found satisfaction in a more modest life, learning to prioritize his real needs over impulsive consumption.
A transformation? cultural. If you will, too, this frugality movement highlights a transition in the values of Chinese millennials, who now appear to be looking to simplify their lives and save for long-term goals. The stories and examples above serve as a reflection of the extent to which the economic crisis has encouraged greater self-sufficiency and creativity in resource management.
Who knows, cultural change could mark a lasting trend towards more conscious and sustainable consumption in a generation that, like most of the world, is facing unprecedented economic challenges and is already showing signs of not wanting to take the steps of previous generations.
Imagen | Zhao Yongfang, Xue Yang
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