Children are top dogs in family spending
Print Edition
THAT Chinese parents dote on their children is well-known around the world.
That predilection was reinforced recently by a survey that showed people would rather spend money on their children and go without things they might want themselves.
The survey, conducted by the Research Center for Family Development of Fudan University, canvassed 2,400 families in 80 residential communities.
The five categories where respondents said they are most willing to spend money all related to children. At the top were costs tied to the interests and hobbies of children, such as musical instruments, painting and sports. That was followed by expenditures involving education.
“It’s definitely true that parents are willing to spend more on children than on themselves,” said Rebecca Wu, a forty-something white-collar worker who has a 15-year-old son at a top local middle school. “I spend around 4,000 yuan (US$606) a month on him, including tennis and after-school education courses, and that doesn’t include 45,000 yuan in tuition fees every year.”
Wu revealed that one after-school class costs 300 yuan an hour, as do tennis lessons.
“That’s a large sum of money every year, especially for a working family,” she said, “But when everyone in his class is doing the same thing, how could you let your child be isolated? In China, it is all too easy to feel pressured to keep pace with the mainstream.”
Wu said she spent less and less on herself after the birth of her son.
“Now I seldom buy new clothes, shoes, bags or make-up,” she said, “My husband always jokes that I am tight-fisted, but it’s only to benefit my son and nobody else.”
Wu’s attitude is not particularly new. It’s long been the tradition of Chinese parents to save every penny for the future of their children. In past times when food was scarce, Chinese parents typically fed their children the best food and left the scraps for themselves or went without eating.
Nowadays, however, fast-paced economic development means people are richer and have more to lavish on their offspring.
“I grew up in an environment where my parents were frugal,” said Janet Lin, a 30-year-old accountant.
“But when I wanted to buy something, they never hesitated a moment. Before I got married and had my daughter, I didn’t have any savings. But now, I seem to be a carbon copy of my parents. In the past, I never gave a thought to spending 20,000 or 30,000 yuan on a Chanel bag. Now that money goes to pay my daughter’s early education fees.”
Jiang Weiming, a 50-year-old freelance teacher in Olympic mathematics, has a very profitable career thanks to doting Chinese parents. His hourly charge is 1,000 yuan.
“The market is bigger than you might expect,” he said. “Many local parents want me to teach their children. Money is no concern to them. They want their children to excel in Olympic mathematics because that is reflected in school scores and matters a lot.”
Indeed, parents pour money into all aspects of education to give their children an advantage in the fierce competition to enroll in the best schools, from primary to university. A good education is deemed essential to a successful career and comfortable lifestyle.
Wang zi cheng long （望子成龙）— or the desire to see the child succeed in life — is a household idiom with deep roots.
The toll that obsession takes on the rest of a family or on the relationship of couples is hard to discern.
The survey by Fudan’s family development research center found that only 2.7 percent of respondents were willing to pay for counseling when marital problems occur, even though the cost, by comparison to what is spent on children, is slight.
That imbalance of priorities is also often reflected in resources allocated to the elderly. In a rapidly aging society, the fallout can be significant.
By the end of 2014, China had 212 million people 60 years or older, comprising about 15.5 percent of the population. The ratio of younger people who work to support the elderly has narrowed.
The standard retirement pension for most individuals is between 3,000 yuan and 4,000 yuan in Shanghai. Due to the heavy financial burden on government, speculation abounds that retirees may soon be required to pay 680 yuan a year for medical insurance.
The old system of three generations living under one roof is breaking down.
“I am fully engaged in my job and caring for my son, and I have no time left for my mother,” said Wei Yun, 48, a middle-school teacher. “I checked with some local senior facilities and they quoted monthly costs of 4,000 yuan to 10,000 yuan. Her retirement salary is about 3,000 yuan. After a discussion with my husband, we decided to hire an ayi to do some chores for her. The salary of ayi is about 2,000 yuan.”
The Fudan family development research center survey estimated there will be almost 2 million local families in need of domestic helpers in the future, with 15 percent of them hired to care for the elderly.
“I try not to think about it or I would feel too much pressure,” said Lily Liu, a 40-something white-collar worker. “My parents and in-laws are all above 70. If I send them all to homes for the elderly, the expense would be daunting. My son wants to further his studies in the US, and that costs plenty.”
It is fortunate for Liu that her parents have their own savings. Despite their own needs, grandparents are often willing to assist children and grandchildren financially, if they have the means to do so.
“Today everything is for children, and I don’t know whether that is good or not?” Liu lamented, “Not every child has filial piety. I have to save some money for my own old age. After all, I have to live my own life.”
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