Why is our father so frugal?

Parents have experienced different historical events and economic cycles, and they have also caught the express train of national development. These factors make their concept of saving and consumption more cautious and thrifty than today's young people. Here are some main reasons:

First, it experienced the difficult years in the early days of reform and opening up. Most of their parents have experienced the period of reform, opening up and economic transformation in China. The economic situation in this period is not very good, and many people live in difficult conditions, which makes them cherish every penny more and know how to save money in life.

Second, basic consumer demand dominates. In the era when parents were growing up and working, the material living standard was relatively low, and basic consumption needs dominated, such as food, clothing, housing and transportation, while modern people paid more attention to non-basic consumption needs, such as tourism, entertainment, culture, etc. These consumption needs were more extravagant and unnecessary, making it easier for modern people to over-consume.

The third is the lack of consumer temptation. In the era of parents' generation, there were not so many consumer temptations, such as online shopping, social media and various electronic devices. Compared with now, they are faced with far fewer consumption temptations and choices, which makes their consumption concept relatively traditional and frugal, and pays more attention to practicality and actual demand rather than pursuing fashion, brand and vanity.

Fourth, the importance of faith savings. In parents' time, savings were considered as an important source of family wealth, and their consumption concept was more inclined to save and accumulate than to over-consume. Parents often regard savings as an important means of family financial management to prepare for their children's education, medical care and retirement.

In a word, there may be many reasons why parents are good at saving, not only because they are frugal, careful in spending money and have long-term investment plans, but also because they are accurately aware of the uncertainty of their future life. They know that money will not keep growing like mushrooms after rain, so they treat every penny as a treasure and cherish it. This also reminds us that saving money cannot be completed overnight. It needs long-term and firm implementation of the plan to protect our future life.