User:L.aileen/Moonlight clan

"Moonlight clan" is a relatively new Chinese neologism to describe young workers who spend their salaries faster than they earn it. Opposite of the Western definition of the word "moonlighting," which means to take on more than one job to earn more money. The Moonlite(people of Moonlight clan) are generally younger generations. They are different from their parents' diligent and thrifty consumption concepts. To chase new trends and have fun, they don’t care about the cost as long as they like. Material life is what they yearn for, but also the motivation to earn money. The older generation believes that "saving is more significant than spending", and they are very upset about their behavior; however, their motto is "spending can lead to make more money". The Moonlite are companies' favorite group of consumers, since they have strong purchasing power from desires; more importantly, they have the ability to make money and have money to spend.

Family
The average Moonlite have a relatively wealthy backup from their families. There is not much life pressure. They do not need to consider supporting parents or other folks. It is enough to just work and support for themselves. They haven't experience too much difficulties. After getting paid, they only think of buying goods and services, instead of planning for saving.

Characteristics

 * 1) No career planning and Uncertainty of goals

Most of the Moonlite have no plans for their own careers. They don't have any goals. Moreover, such people are not serious about their work and have no desire to make progress. People with plans generally do better than those who just muddle along. 2. Lazy to work and Addictive to play They spend more time and energy on entertainment. For them, work is to complete a task. By doing work, they will have more money to spend. Such people seem to be very chic every day, but actually, they feel empty inside. They cannot enrich themselves compared to those who work hard. Psychologically, those people are more likely to have a lazy vicious circle.

3. Dare not face difficulties and stress

Because the Moonlite can't get enough financial support, they will not dare to face difficulties afterwards. However, in fact, the problem still exists, and the more they accumulate, the more difficult it is. People whose financial income is guaranteed and have plans for their own funds should have a rational life. While facing difficulties, they will not be inferior to solve it. Accumulated problems could lead to life pressures.

Benefits
Everyone's attitude towards life is different. Some people would like to live a stable life, save their wages for the urgent needs in future; some people pay attention to timely pleasure, feel that the money they earn should be spend soon without concerns. No matter which lifestyle has its own benefits. Many people may think that the Moonlight clan is equal to the black sheep. In fact, the Moonlight clan has its own value. It is undoubted that the Moonlite’s attitude towards life in a timely manner which can promote economic development. They also enjoys what others can’t enjoy.

Mainland China
In mid of 2019, The People's Bank of China released the "2019 Consumer Financial Literacy Survey Report" which is a comprehensive analysis of the financial literacy of Chinese consumers from perspectives of attitude, behavior, knowledge and skill. Among the 18,600 samples surveyed, most consumers paid more attention to personal credit score. The willingness to delay consumption declined slightly. 79.03% of consumers disapproved of being “moonlight clan” and only 17.80% of “strongly agree” or “considerable”.

Hongkong
In 2017, one in every six people in Hong Kong, aged 18 to 35, doesn’t have any money spare to save each month. That is worse than in 2013 when one in every seven people didn’t save. Hong Kong was frequently voted as the most expensive city to live in globally. However, young people in this city would rather spend their money on travel and the latest gizmos rather than save it, which is why for many of them, owning a property in the city is not a priority.