The Chinese Secret to Saving Money Revealed

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Title	:	The Chinese Secret to Saving Money Revealed
Lasting	:	10.57
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Views	:	1,5 jt

Next week's video is going to be awesome - make sure you're subscribed! Thanks for all the love on this one all 💙 Also make sure to check out br💸 SoFi Checking & Savings: Get up to 400 APY, pay no account fees and earn $250 when you sign up and set up direct deposit Terms apply ➭ soficom/humphrey
Comment from : Humphrey Yang

All very true, thanks for sharing
Comment from : Darude

Having one child per couple is not for population control It's just about "control" People in China are saving money to get the hell out
Comment from : Robert G

I never hear about your rules My traditional Chinese dad taught me: 😅br1) daughter does not deserve luxury goods or normal goods, daughter will marry off anywaysbr2) screw 10:1 rule for guys Daughter or sister needs to give money to father/brother/nephew br3) need and want? Make sure daughter survive on lowest standard and daughter will pay all need/want Just make sure she starts working as a young teenager br4) mom will cook everything brbr#4, is the only thing i impress, my mom is horrible cook
Comment from : Kar Law

talking to much
Comment from : carol lyda

Interesting and insightful video, thanks!
Comment from : Emiel333 Official

Very interesting video, i live in Canada, and alot of the Chinese here are always dressed in luxury brands and driving high end vehicles, which they're always getting car jacked for, so when you said chinese dont indulge in luxury, that's definitely not the case here, but good video!
Comment from : 23Calalily

I love the wallet eksampel i bought my current wallet when i was 19 i was expensive but i still use today im 37
Comment from : Morten Jensen

Excellent video… just discovered you through Nate’s video
Comment from : MalluStyle MultiMedia

Ok be tight miserable and struggle all your life to send them to York 😂
Comment from : Pateicia Lane

Do I sound bitter damn right I’m a pensioner they are arrogant and pushed me with my broken wrist into a shop window for no reason! so yes I’m bitter the kids ate stupid god knows what they study here
Comment from : Pateicia Lane

Why York england more Chinese at uni that people 😂 and why so stupid walk when light is green and wonder why blasted by car horns! Why they £3000 a month pocket money where’s the money from opium?
Comment from : Pateicia Lane

Daniel Wu?
Comment from : Hugo Chang

Abortion isn't contraception buddy
Comment from : FreddyBo

as an asian, i calculate every dollar i spent everyday, even 05$ dollar, i get a very precise data of how much i spend each month, i live normally and i save up to 66 of my salary every month
Comment from : YOUTUBE ADS ARE CANCER

hello
Comment from : CEJAY ALEJANDRO

“I’m not Asian, I’m 100 Chinese” 😂brIm not North American, Im 100 United States
Comment from : Mr Kneons

My husband and I lived at home until we married and honestly I think it does help a lot not to move out early and rent with friends (if family life permits) brbrMy husband is from former Yugoslavia and it's very common for multiple generations to live in the one house there brbrBuilding a house with your husband or wife's parents helps tremendously too My husband and I built with his parents and his brother and wife built with her parentsbrbrHaving family close as they age is a blessing too It's very different from many who live in Australia where we live but I think financially and relationally it can really work (if all parties get along and are respectful of each other's boundaries) brIt's been a huge blessing for our family
Comment from : Grafted in Grace

thank you nice advice and story
Comment from : Hestia Familia

This video is wrong! He is trying to make it seem like the Chinese are virtues savers They elephant in the room missing from the video is the housing market! It take three generations for a Chinese family to buy a home that’s the main reason they save money so much How could this guy miss this huge point? Geese
Comment from : Patrick Clopton

I love eating out with Chinese take out 🥡🥢
Comment from : Ren Pilak

Wow
Comment from : Precious

Managing money is different from accumulating wealth, and the lack of investment education in schools may explain why people struggle to maintain their financial gains The examples you provided are relevant, and I personally benefited from the market crisis, as I embrace challenging times while others tend to avoid them Well, at least my advisor does too, jokingly
Comment from : Juanita Bynum

People talk about the millions of Chinese men that cannot find a wife & the aging population not having enough young people to support (pay for) their care as they grow older but what about the women that were forced to abort the tiny girl growing in their womb or the girls who were conceived but never born or murdered by their parents at birth
Comment from : sweetchildmine08

your results are crazy, man You are the real professional in this business
Comment from : Valentin Lazarev

I am Chinese and didn’t know it!
Comment from : Arelí

I grew up in China Never heard people there say “wish you rich” till I heard it in those stereotypes conversations here in the US Your dad only represents your dad, not the Chinese people
Comment from : None None

Almost every Asian, not sure if Chinese person I see usually has designer clothing, bags and luxury cars
Comment from : K Cornelius Eutsey

I feel that now a days, eating out is the same and sometimes cheaper than eating at home
Comment from : Eli

Great advice Thsnks
Comment from : Rhonda Phoenix

To bad my parents always take my 🧧 and say "don't worry i'll keep these safe for you"
Comment from : Tevin Lim

There are other factors at play culturally in the movies in America there a ton of coming of age movies that have a heavy focus on blowing off school, partying, underage drinking, using drugs, loosening up not being so consumed with grades if they are consumed with school it's to get into college and typically the most fancy even if they don't have a major often it is to leave family and as far away as possible, spending is frivolous, they get fancy cars the second they turn 16 They get so involved romanticly with a brand new love interest they neglect responsibility if they save money it's to get away from something dangerous or toxic or at least less than I don't think this is necessarily aligned with the reality or the majority but it is what is presented as normal so it is normal to get massive student loan debt without even picking a major or finishing the first year Our country is intentionally car dependent the car companies bought up street cars and destroyed them to gain a monopoly this happen 60-80 years ago most people alive today never knew the time before the motor and gas companies did that America built roads and cars as apposed to rail post WW2 most other countries focused more on rail infrastructure as well as roads I am a pedestrian and I take public transportation and I am considered so abnormal for that I remember how in wanting to be a mom it was assumed I needed to drive as a mom it was fine as a young single 20 something but I would need to learn to drive when I wanted to have a family because it just wouldn't work to be a mom if I didn't drive I call bs car ownership is expensive I qualify for a reduced fare but the normal fair is $45 a month most people pay more for car insurance and like I said the county is built to be car dependent apparently car dependacy and the " freedom" you get from having a car is the American dream it's suburban lifestyle which requires driving and is unsafe for kids to roam about or do things independently and unsafe for the poor and disabled who can't drive The absence of those things might not be a huge factor for the Chinese savings rate but I do think those things are huge factors for the 5 savings rate for Americans
Comment from : Lemonade

Excellent advice
Comment from : After The Storm

Are you sure? Go to china Lots of mercedes in Shanghai and Bejing Also, lots of Gucci, LV, etc in China
Comment from : Cheryl S

Everything he saying used to be common sense here brbrNot anymore !
Comment from : e harris

CHINESE NOT SO SMART DID THEY NOT REALISE YOU NEED FEMALES TO BIRTH THE MALES😂😂😂😂😂😂
Comment from : Soblessed777

Learn to be comfortable with having money and not spending anybrA savings account is for people that need help managing moneybrCredit cards are only for building creditbrKeep monthly expenses to a minimumbrLive like you make less than you dobrNo debt is the only good debtbrLearn to do things yourselfbrPay for gas with cashbrBuy food in bulkbrHave fun
Comment from : SALT

There is also the social credit system which i find quite scary, but totally acceptable to chinese
Comment from : many moms

bFound your video at the perfect time when I needed the mostI wish they taught me this in college,"A good question opens the mind, a statement keeps it closed"Simply brilliant "It's always a good time to be rich, Starting early is the best, you've helped me alot with your advice, imagine investing $2,500 and receiving $8,000, thanks to the lady Luna Cox/b
Comment from : Clara Wakanda

Thank you for the educational background before the secret I wish them well I love that greeting I HOPE YOU GET RICH!!!!!
Comment from : Third Account

Im a filipino i have no savings in my account because i bilieved in YOLO, who will inherit your wealth😊
Comment from : Esmael Dimaporo

If you make 1000 in america its almost impossible to save half of that check
Comment from : WJ L

I rewatched your video again I love the "good with money Chinese person" phrase My husband is white and I am Chinese I got a chuckle from that phrase That phrase is so funny but true!
Comment from : R & S Smith

USA makes me sad
Comment from : xTheKingsGuard

Please stop using the incorrect phrase: "off of" It is very bad grammar! brIt started in America decades ago with an illiterate presenter on TV and now you all use it It completely lowers your credibilitybrAaand it's infuriating for the rest of the world to hear! We switch off straight away
Comment from : R Jansen

Managing money is different from accumulating wealth, and the lack of investment education in schools may explain why people struggle to maintain their financial gains The examples you provided are relevant, and I personally benefited from the market crisis, as I embrace challenging times while others tend to avoid them Well, at least my advisor does too, jokingly
Comment from : Raul Romero

nice content we think more options proud Chinese ❤
Comment from : WOLF

It takes a great strength of will to save money when everything around you is pushing you to spend money Even the people I interact with every day have a mind set of throwing away money any time some random things come up
Comment from : Beverly Looper

Not making upto a million before retirement is an unfulfilled retirement I’m 54 and my wife is 50 We are both retired with over $3million in net worth and no debts Currently living smart and frugal with our money No longer putting blames on the FED for our misfortunes Saving and investing lifestyle in the stock market made it possible for us this early Even till now, we earn weekly
Comment from : Big Elbow

My grandparents grew up during "the great depression" Both of my grandpas worked full time at their jobs until they were 80 years old They never let go of that scarcity mindset
Comment from : My Life Thai

That chinese savings rate is ridiculously high, is also because things are dirt cheap in China? In USaa everything is expensive
Comment from : Jean Pierre Mzulwini

Wow, I:ve waited so long to find one chinese to enlighten me about the frugal ways of the Chinese Thanks
Comment from : Michelle Cristina

Americans have to pay for healthcare That’s why there is not savings
Comment from : Gratitude Healing Arts

I am shocked at the average savings percentage of Americans I am half Chinese but my husband is your standard meat and potatoes white american We probably save 10-20 of our income dependent on current circumstances We're not rich, we get by I understand that if you live in poverty you can't save but how are we considered high savers by US standards? My husband and I get into these arguments about how I want to save more I honestly thought we were low end savers That statistic is utterly embarrassing but it explains a lot
Comment from : daniella birch

Thanks
Comment from : Reynold padua

Met a military man whose wife was chinese and managed the money She was very strict and gave him a small weekly allowance He was 32 years old with nearly 200k in his checking
Comment from : Dextah

All my two friends they Chinese and both got cash il like wtf I have a google job and no money
Comment from : Jorge Cirino

We are supposed to take this video but he starts with the Americans are dumb and lazy stereotype
Comment from : Mike John

very educational thankyou for this content
Comment from : Mwango Kayula

From Somalia 🇸🇴 if you don’t spend it or living with it we believe you’re greedy and picky person
Comment from : Rondo

Wait, why would people ask if you are half Asian? I’m guessing you don’t live in CA? Lol
Comment from : HH

Omg the thumbnail Omg haha
Comment from : HH

I think a big cultural factor is history during the 20th century: There was so much destabalization due to foreign occupation, civil war and instability due to traumatic events like the great leap forward and cultural revolution This contributed to a big scarcity mindset My wife is Chinese and grew up at the end of the cultural revolution
Comment from : kh884488

bWILDVESTCORPS PAGE/b Your expertise in cryptocurrency shines through your analysis:
Comment from : Morgan Shawn

Best❤
Comment from : Cat Daily

Who is that person 2:41? Thanks
Comment from : F Chen

Hey Humphrey maybe do a video about how saving money in china is not a culture thing per say but a monetary way for the economy to work Maybe try go into detail about the converse factors, what would happen in china if people became spenders? I enjoyed your video and subscribed I think youre spot on with the economic keys! Thank you Humphrey!
Comment from : Mosala Sehloho

thank you!
Comment from : SONIA

I love how these Chinese guys always praise China from America If China is so great why did your parents escape from it Stop the CCP propaganda BS If truth be told China owes the world trillions of dollars from the murder of millions of people from Covid
Comment from : brother love

Building wealth involves developing good habits like regularly putting money away in intervals for solid investments Instead of trying to predict and prognosticate the stability of the market and precisely when the change is going to happen, a better strategy is simply having a portfolio that’s well prepared for any eventually, that’s how some folks' been averaging 150K every 7week these past 4months according to Bloomberg
Comment from : Phil Sommer

Hi What about a high taxation? …
Comment from : Stefania Smanio

Every dollar accounted for
Comment from : Binti kielelezo

Thank you, informative video😊
Comment from : Nekisha Lewis

Don’t believe the Chinese government statistics
Comment from : Free Markets People

Thanks for good information about money matters
Comment from : sathyam paranjal by shameer

Glad he mentioned “scarcity mentality” Great video!
Comment from : Les Petits Rugby

I am fortunate I made productive decisions about my finances that changed my life forever I’m a single mother living in Hk China, bought my second house in April and hoping to retire next year at 50 if things keep going smoothly for me🥰🥰
Comment from : Elizabeth James

Your advice is only applicable for Chinese and are living in those China environment, even there it is changing Chinese in America may be true in the first generation immigrant only - once the 2nd generation living in America may not be true about your advice or recomendations!
Comment from : ravi2jc

I'm broke and the happiest person compared to my friends and familyI might not have a expensive car, new clothes, jewelry, newest tech but I have a clean bill of health and nature to enjoyI am rich
Comment from : Bands

Chinese are some of the best savers and the wildest gamblers
Comment from : Third Eye Liquidators

Its quiet interesting how we reject the reality of our situation and expect to be able to observe it, control it and even change it I used to be financially depressed until I read a book that made me realized that the secret to making a million is making better investments!!||
Comment from : James Abdelkarim

Excellent video!
Comment from : Cindy Ann

It’s hard to do when you don’t have a high income and 70 percent of your income goes towards living expenses
Comment from : Marigold

I hope you get rich brThat goes out tobr ALL YALL
Comment from : HEAVYWALL 70

The irony is that your ads are pushing sales on consumer
Comment from : Clifton Roger

If i could have only ever gotten paid enough to $ to save instead of not being paid enough to afford rent
Comment from : Clyde Shelton

I had a chinese partner and learned all this stuff I come from a british family and now have the most money I feel stupid if i waste money on stupid things It is really just common sense in Chinese culture but becomes wisdom in the west Listen to this guy and you won't have to hope to get rich, you can't help but get rich in the west
Comment from : Malachy Carson

My boss is a Chinese businesswoman with whom I used to work for a few years I'm a foreign worker who works in her company which used to be handled both of them with her husband but unfortunately, he died of cancer a few years back I'm very impressed with their business acumen for they are very good at consolidating things to make their business effective and prospering But what makes me more impressed with their business touch is that they are never really true to their workers for they cut our government-approved salary hundreds of dollars every month, and if you are going to count it, it will be thousands of thousands of dollars cut every year THAT IS THE REASON CHINESE BUSINESSMEN ARE PROSPEROUS!!! HOW AMAZING, ISN'T IT!!!!
Comment from : jeth smith

"Using contraception in a way that they would avoid female births and try to optimize for male births" that's a very diplomatic way of saying they throw baby girls in dumpsters
Comment from : Kris Hunt

Great video! Thank you
Comment from : Bee R

Always fly under the radar
Comment from : Papi

My mom was so frugal but invested on lands Now that she’s gone, we, her children are reaping happily the fruits of her labor
Comment from : Maricel DB