Don’t waste money✳

Turn off all automatic renewals and switch to manual renewal

What you save is exactly the money spent on subscriptions you no longer use but are still being charged for each month. It takes less than 20 minutes to go through the automatic payment lists in Alipay, WeChat Pay, Apple, and Android. By regulation, merchants must give you a clear notice before charging you, plus an easy-to-find and readily accessible option to cancel at any time.

Conduct your annual tax reconciliation from March to June; be sure to include any eligible special deductions.

Generally, the following individuals can expect a tax refund: those who worked only part of the year, those who changed jobs mid-year, or those who failed to claim deductions for child education, mortgage payments, rent, or elderly support. The whole process takes only a few minutes on a smartphone. If your total annual income is under 120,000 yuan or the amount of tax you owe is less than 400 yuan, you may skip this step.

The housing provident fund isn’t just for buying a home: it can be used for renting, home renovations, and paying property fees; new rules take effect on September 20, 2026

The housing provident fund isn’t limited to home purchases. The updated regulations list nine eligible scenarios for withdrawals, including renting, renovating a personal residence, and paying associated property fees. Once you submit your application, the housing provident fund authority must respond within three days whether your request is approved or not.

Recalculate your mobile and broadband plans yearly: downgrade unused services, and file a complaint if the provider refuses

Older plans you’re on often cost dozens of yuan more per month than newer plans currently offered. Those extra costs add up to hundreds of yuan each year — money essentially wasted. By regulation, providers have no legitimate reason to deny or delay such changes, nor may they impose special pricing structures solely for customers who switch plans. If they refuse without cause, you have grounds to file a complaint.

Not buying lottery tickets

According to regulations, the minimum proportion of sales revenue allocated to prizes for lotteries is 50% for regular and number-based types, and 51% for the Double Color Ball. This means that on average, for every 1 yuan spent, you can expect to receive back only 0.51 yuan over the long term — a net loss of 49%. In 2024, China sold 623.486 billion yuan worth of lottery tickets; of this amount, 161.031 billion yuan went directly into public welfare funds and was not distributed as prizes.

Walk away the moment you see “high returns,” “guaranteed returns,” or “sure profits”

Regulatory authorities themselves state that any return rate above 6% raises red flags, anything over 8% is highly risky, and returns above 10% mean you should expect to lose all your principal. Legitimate financial products are no longer allowed to promise guaranteed returns or principal protection. Any losses incurred from participating in illegal fundraising are your own responsibility per regulations; no one will cover those losses if things go wrong.

Avoid making minimum payments or using installment plans or consumer loans

Making minimum payments is not a discount — it is essentially a loan that accrues interest daily, which translates to roughly 18% per year. Once you opt for minimum payments, the interest-free period ends immediately, and all remaining unpaid principal is charged interest from that point onward. When evaluating interest rates, always look at the annual percentage rate. Regulators now require card issuers to clearly display this annual rate instead of only listing the daily rate.

Don’t give streamers tips, don’t make in‑game purchases, and don’t place impulsive orders

In 2024, China’s gaming industry generated 325.78 billion yuan in revenue, serving 674 million users — that’s roughly 480 yuan per person on average. The total amount spent that year was 325,783,000,000 yuan, involving 674 million users and 325,783,000,000 people overall. Once that money is spent, it’s almost impossible to get back. The law only guarantees refunds for spending done by minors without parental consent; adults have no such protection. The easiest way to avoid losses is to act in advance: disable automatic payments, set limits, and unlink payment options.

When kids make in-app purchases or send tips using a phone, parents can request refunds for large amounts spent by kids over eight years old if they never gave consent.

Money spent by kids over eight years old is generally considered invalid if the amount clearly exceeds what’s appropriate for their age and level of understanding, and if parents neither approved nor acknowledged it. Parents can therefore demand a refund. Kids under eight, by law, cannot make independent spending decisions at all. Even if parents stay silent, the law treats this as a refusal to acknowledge the transaction.

Teaching kids one key phrase: anyone who asks them to use a parent’s phone to enter verification codes is a scammer

These six scam types use different tactics, but they all end the same way: they get kids to use a parent’s phone to make transfers or share verification codes. That’s why teaching just one phrase is enough: anyone who asks you to touch your parent’s phone or share verification codes is a scammer. Add “If I get scammed, I’ll tell you right away and you won’t scold me” to this phrase. Only if kids feel safe speaking up immediately can stolen money possibly be recovered.

Skipping extended warranties for electronics

Extended warranties typically cost 10% to 50% of the item’s original price. The profit margin on these warranties is roughly ten times higher than on regular merchandise. In 2003, Best Buy in the U.S. earned over half of its total profits from extended warranties, even though they accounted for only 3% to 4% of its overall revenue. That price gap represents exactly what you’re paying extra for the warranty.

Prefer generic drugs that have passed consistency evaluation and those selected in centralized procurement

The second round of centralized drug procurement saw an average price drop of 53%, with some drugs becoming 93% cheaper. As of April 2026, 11 rounds of procurement have been completed, covering 490 different drugs. Asking whether a generic version under centralized procurement is available ensures you get the same active ingredients at a significantly lower price.

By setting up a family medical insurance pool via the Yibao app, funds from your individual medical insurance account can be used to pay for your spouse, parents, and children’s medical care and medication.

Once you set up this link, money from your individual Yibao account can be used to cover medical expenses and prescriptions for your spouse, parents, and kids. Without it, those funds remain locked in your account for your own use only.

Drinking boiled tap water instead of buying bottled water year-round

In Beijing, the first-tier water price works out to 0.005 RMB per liter. Bottled water at 1 RMB per 500 ml costs 2 RMB per liter — that’s a 400-fold difference. Tap water must meet mandatory national standards, so boiling it is enough for everyday use. However, if the water source is contaminated or the water smells or looks cloudy, a few extra minutes of boiling won’t fix it — you should stop drinking it and report the issue.

Infrequent stock trading

Data from 66,465 U.S. household accounts shows that the group trading most frequently still earned just 11.4% per year on average, while the broader market returned 17.9% over the same period. That 6.5% gap is almost entirely due to trading fees and commissions. Without those costs, both groups would have seen similar returns. Every trade you make directly reduces your net earnings. The absolute number of accounts analyzed is 66,000.

Don’t borrow money to invest, don’t use leverage, and don’t buy things you don’t understand

When you borrow money to buy stocks, any drop below a set threshold means you can’t add more funds to your position, so the shares get sold automatically. The paper losses you see on your account instantly become real losses — there’s no chance to wait for the price to bounce back. Regulatory rules state that people who have held a trading account for less than six months or whose average daily assets over the last 20 trading days are under 500,000 RMB are not allowed to open margin accounts. This threshold alone makes it clear this tool isn’t meant for ordinary investors.

Replacing actively managed funds with broad market index funds as a long-term core holding (the portion of money you keep invested for years)

The collection of stocks held by actively managed funds is already very close to the overall market composition. However, the extra management fees they charge are deducted directly from your actual returns. When we recalculate fund performance repeatedly by treating it as a matter of luck, very few funds manage to earn enough extra returns to offset those fees.

When choosing funds in the same category, pick those with lower fees

For every 1 percentage point increase in annual fees, the amount you end up with drops by roughly 18% after 20 years and 26% after 30 years. Among funds in the same category, picking one with lower fees is the only factor you can control in advance.

Don’t put all your money into one stock, one platform, or one property

As long as several assets don’t all rise or fall together, spreading your money across them keeps your average expected returns the same while reducing the ups and downs of your account balance. Conversely, if you invest everything in one stock, platform, or property, any trouble there directly affects your entire portfolio.

Individuals who pay income tax can open a personal pension account and deduct up to 12,000 yuan per year before tax; it’s not worth it for those who don’t pay income tax

The amount you save is equal to “the tax rate applicable to each additional yuan you earn, minus 3%” multiplied by the total amount you actually contribute. For people with a 10% marginal tax rate, the maximum annual saving is 840 yuan; for those with a 20% rate, it’s 2,040 yuan; for those with a 30% rate, it’s 3,240 yuan. People who don’t pay income tax at all won’t save a single cent by contributing, and will actually have to pay 3% tax when they withdraw funds, resulting in a net loss. The money stays locked until retirement, with no early withdrawal allowed.

Paying per visit or for short-term memberships is cheaper unless you have a stable year-long attendance record

In that three-year U.S. dataset, members who signed contracts with monthly fees over $70 attended the gym just 4.3 times per month on average, which works out to over $17 per visit. Meanwhile, a 10-visit pass costs only $10 per visit. These members paid an average of $600 extra over their membership period. Unless you already have a year-long track record of regular gym attendance, paying per visit or opting for a short-term membership is far more cost-effective.

Sign a written contract before paying any advance fees; if a business faces serious risks, it must stop taking payments, and you have the right to get back any unused balance if it shuts down.

When a business accepts advance payments from you, it must provide a written contract that clearly outlines the refund process. If the business encounters major operational risks, it must immediately stop collecting further payments. Should it decide to close or relocate, it must give you advance notice. You have the right to demand that the business continue providing services or refund any portion of the payment you haven’t yet used. Violations of these rules result in fines ranging from one to ten times the illegal earnings; if no illegal profit was generated, a fine of up to 500,000 RMB applies.

Implementing a 24‑hour cooling‑off period for large, non‑essential purchases; making good use of the seven‑day no‑reason return policy online

What you save is exactly the money spent on items you no longer want the very next day. For online purchases, you may return them within seven days of receipt, no reason required. Certain categories are excluded: items made to order, perishable goods, digital products that have been opened, and periodicals.

Don’t stock up based on “strikethrough prices” or big sales

When judging whether something is cheap, people rely on the first price they see, and later adjustments rarely make up for that bias. Thus, “original price 999, now 499” makes us systematically overestimate how much we’re saving. By regulation, the baseline for a discount should be the lowest price the same store charged in the seven days prior to the sale. The crossed‑out price isn’t necessarily one that was actually sold at.

It’s better to choose a non‑return insurance plan and treat “refunds” and “dividends” as non‑guaranteed benefits

The amounts labeled as dividends or refunds are not guaranteed to be paid out. Regulations require insurers to highlight in bold print that “future policy dividends are non‑guaranteed benefits.” The extra premium you pay for a refund feature essentially lets the insurer hold your money: there’s no guarantee on returns, and withdrawals are difficult.

Get sufficient third‑party liability coverage: The mandatory insurance limits are uniform nationwide and relatively low; anything beyond them comes out of your own pocket.

When you’re at fault, mandatory insurance will pay out only for three categories: up to 180,000 yuan for death or disability, up to 18,000 yuan for medical expenses, and up to 2,000 yuan for property damage. These limits apply separately; they can’t be combined, so the overall maximum payout is 200,000 yuan. Treating a single injured person can easily exceed the 18,000‑yuan medical limit, and fatal accidents cost far more than 180,000 yuan. Anything above those caps must be paid by you, which is why adequate commercial coverage is essential.

Set aside an emergency fund equal to 3–6 months of living expenses, keeping it in an easily accessible account

Save an amount equal to 3–6 months of your regular monthly expenses in an account you can access at any time. This way, if you lose your job or fall ill, you won’t have to borrow money at an 18% annual interest rate, nor will you need to sell your investments at a loss. Deposits in banks are protected by deposit insurance, with a maximum payout of 500,000 RMB per bank for each account holder.

Run a quick comparison before paying off your mortgage early — don’t rely on gut feeling

The guaranteed return you get from paying off your mortgage early equals your mortgage interest rate. So the only question you need to answer is: is the long‑term after‑tax return you can reliably earn higher than that rate? If the answer is yes, it’s better to keep the money invested; if it’s no, or you’re unsure, then paying off the mortgage makes sense. With an equal principal‑and‑interest loan, a large portion of each payment goes toward interest early on, so the earlier you pay, the more you save. Most bank apps have a “prepayment calculator” that shows these numbers right away.

When shopping online, follow platform rules and laws — not influencers or “positive reviews”

If a seller tries to deceive you, they must pay three times the amount you paid — with a minimum compensation of 500 yuan. Platforms that know sellers are breaking the law but do nothing must also share in the liability. Fake orders, fabricated positive reviews, and false information posted in livestreams all incur penalties; organizers of such fraud can face fines up to 2 million yuan and even lose their business license. Deposits may not exceed 20% of the total contract price. If you break the contract, your deposit is forfeited; if the seller breaks it, they must return double the deposit. Price discrimination based on personal data is strictly prohibited.

If something goes wrong with a purchase made via a livestream, first ask the platform for details about the seller and the livestream promoter — the platform must provide this information.

When problems arise after buying items on a livestream, the most common hurdle is figuring out exactly who to hold responsible. In such cases, you can directly ask the platform to share information about the livestream operator and the promoter, along with all relevant business records. The platform is legally obligated to comply with this request.

Purchasing unsafe food: you can demand ten times the purchase price as compensation, with any shortfall under 1,000 yuan made up to 1,000 yuan

If you eat food that is expired, spoiled, or contains foreign objects, the food itself, its packaging, and the receipt constitute all your evidence — so do not toss them out hastily. The law mandates compensation equal to “ten times the purchase price or three times the actual loss,” and if that amount falls short of 1,000 yuan, the shortfall is made up to exactly 1,000 yuan. Thus, even for a few‑dollar pack of expired food, you are essentially entitled to that 1,000‑yuan sum. You may choose whether to seek payment from the seller or the manufacturer; the party you contact must pay first and cannot shift responsibility to the other.

Check national inspection reports, CCC certification, and energy labels before buying big-ticket items

In 2024, national inspections covered 25,250 batches of products, with 14.3% found to be non-compliant. E-commerce channels performed worse: out of 7,297 inspected batches, 23.5% failed the checks, compared to 15.1% for physical retail stores. Before buying big items, it’s worth spending a few minutes checking the latest inspection reports and verifying whether the CCC certificates are genuine. Products required to carry energy labels must have them displayed as well.

Bracelets, jade, luxury watches, and collectibles should be judged by “money spent” rather than “money saved”

The moment you buy such items, a portion of their price functions like a tax. For watches priced at 10,000 yuan or more (excluding VAT), a 20% consumption tax applies as “luxury watches.” Gold, platinum jewelry and diamonds incur a 5% tax, while other precious jewelry and jade products are taxed at 10%. VAT applies on top of that. None of this amount can be recovered when you later sell the item to someone else. If you genuinely like it, treat it as a discretionary purchase rather than an investment.

Jewelry and gemstones require test reports bearing the CMA mark; verify the issuing agency on its official website.

Certificates themselves can be forged, so the real task is to verify the agency that issues them. Any testing agency must first obtain official accreditation to issue reports, which must feature the CMA mark. The accrediting authority publishes a list of approved agencies and their certificate statuses online, allowing anyone to confirm whether a given agency qualifies. In 2026, several “anti-counterfeiting” cases revealed that some “national inspection certificates” accompanying goods were fabricated by the sellers themselves, and even fake agency logos were used.

Random sales such as blind boxes and gacha games are considered “money that won’t come back”

The rules give consumers the right to be informed, but not the right to change their mind after a purchase. Merchants must clearly display all relevant details: product names, types, designs, draw rules, distribution of items, quantities of limited editions, and actual draw probabilities. They are also prohibited from manipulating results behind the scenes or using empty boxes. However, “guaranteed minimum rewards, spending caps, and limits on draw attempts” are only encouraged, not mandatory. For online blind box purchases, the moment you open the box is the final chance to cancel the transaction.

If you care about what’s in your food, buy pre-packaged items: loose goods at retail counters aren’t legally required to list ingredients

The law only mandates ingredient lists for pre-packaged foods; no such requirement exists for loose goods. Retail counters selling loose items only need to display the product name, production date, shelf life, and manufacturer details. So, the absence of listed additives does not mean they are not added — it simply means the law does not require them to be disclosed. If you care about what’s in your food, opt for the pre-packaged version, which clearly lists all ingredients and additives.

Stocks that have lost value should also be sold according to pre-set rules — rather than buying more to average down the cost

Human nature drives us to sell stocks that have gone up and hold on to those that have dropped. Across 10,000 U.S. accounts over seven years, stocks that rose were sold at a rate more than 50% higher than those that fell. The same investors also tended to add more money to losing positions. Yet, over the following year, those stocks they kept underperformed the ones they sold by an average of 3.4 percentage points.

Avoid trading during periods of wild market swings — don’t ramp up buying or selling at the peak

Researchers analyzed trading patterns of 40 million accounts on the Shanghai Stock Exchange between July 2014 and December 2015. The bottom 85% of accounts, which traded frequently, ended up earning roughly 250 billion yuan less than those who simply held onto their shares. That figure equals about 30% of the initial market value of those accounts. During a calmer two-and-a-half-year stretch prior to this period, the gap between active and passive investors was only 1% to 3%. On average, these smaller accounts swapped their holdings roughly every three weeks — about 18 times per year. In contrast, American households studied in another study traded only three-quarters as often.

想买美股这类海外资产，走 QDII 基金或港股通，别去境外券商开户，也别拿每年的换汇额度去买

English translation pending · Chinese original

老虎、富途、长桥这类境外券商，2026 年 5 月起不许再给境内的人开户。已经开了的，两年内只能卖出、把钱转出来，不能再买。换汇额度也不许拿去买境外股票，违规的当年和之后 2 年都不能再用这个额度。想买海外资产，走 QDII 基金或港股通。