How much is a "ten-thousand-yuan household" from 30 years ago worth today? You'll be shocked!

With the erosion of inflation over the past three decades,

the "ten-thousand-yuan household" has become merely a historical concept.

So how much wealth today equals the former "ten-thousand-yuan household"?

According to an authoritative academic research report by Professor Zhong Wei of Beijing Normal University, the answer is "2.55 million yuan”！

Many people are shocked to see this number. 2.55 million yuan can buy a comfortable house in the vast majority of China's second- and third-tier cities, plus a car worth more than 300,000 yuan, and still leave several hundred thousand yuan in savings.

"Ten! Thousand! Yuan!"This impressive title was practically synonymous with "local tycoon" in the late 1970s, and it made people sit up and take notice.

Back then, rice cost 0.14 yuan, meat cost 0.95 yuan, a gift for visiting relatives cost about 2 yuan, and New Year's lucky money was 0.1-0.2 yuan. With 10,000 yuan, you could go decades without worrying about food or clothing...

However, if 10,000 yuan from thirty years ago had been deposited in a bank, rolling over five-year fixed-term deposits continuously, even taking into account inflation compensation, the 10,000 yuan deposited back then would today at most barely exceed 100,000 yuan. So money shouldn't be hidden away or stashed; you need to learn to manage your finances and learn to make money work for you.

Let's look at just how valuable money was in the 1970s and 1980s!

The "ten-yuan banknote" of the 1960s

Rice

1970s and 1980s: 0.12 yuan/jin.

Now: 4.4 yuan/jin.

The price is 36.66 times that of 30 years ago.

Chinese cabbage

1970s and 1980s: 0.02 yuan/jin.

Now: 1.8 yuan/jin.

The price is 90 times that of 30 years ago.

Educating a university student

1970s and 1980s: tuition from primary school to university was 140 yuan.

Now: from primary school to university ≈150,000 yuan.

The price is 1,071 times that of 30 years ago.

Medical expenses

1970s and 1980s: about 0.98 yuan.

Now: an average of 90 yuan.

The price is 91.8 times that of 30 years ago.

Housing prices

1970s and 1980s: rent of 1.2 yuan per month for 100 sq m.

Now: at least 2,500 yuan per month for 100 sq m.

The price is 2,083 times that of 30 years ago.

Highway tolls

1970s and 1980s: 0 km.

Now: 100,000 km.

The increase is infinite. There's no comparison.

Meanwhile, what else has happened?

The lifespan of leather shoes

1970s and 1980s: a pair of shoes would last at least 5 years.

Now: roughly just 1 year.

The lifespan has dropped 5 times.

Environmental pollution

According to the international Marikis index,

the pollution index in 1978 was 0.98.

the pollution index in 2008 was 1580.

The pollution index rose 1,612 times.

Number of officials

In 1978, the number of people nationwide living off the public purse was 9,780,000.

On average, 80 ordinary people supported one official.

On average, 25 people support one official. That's a 5.3-fold increase.

Education and healthcare as a share of GDP

The government's investment in education as a share of GDP.

In 1978 it was 8%.

In 2014 it was 4%. A drop of 50%.

The government's investment in healthcare as a share of GDP.

In 1978 it was 7.8%.

In 2014 it was 5.15%. A drop of 34%.

Even knowing this is reality, we still can't help but be swept into this social vortex.

Alright then, let's work hard to earn money and become a 2.55-million-yuan household!

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