As a senior accountant, I have an annual salary of 250,000-300,000 yuan ($36,600-43,900) currently. I spent 240,000 yuan ($35,100) to purchase a Honda CRV last summer, and that's why I have little savings now. I have an apartment of around 80 square meters bought in 2004 and had planned to buy a bigger home because I will get married in a couple of years. But I changed my mind, because I now have to consider if I can pay the mortgage in the long run. I have been saving money during these recent months. I cut spending on items that are not necessities, buying fewer cool outdoor gadgets. I also reduced my investments in some open-end funds. I want to save more cash and get prepared for the worst situation. But I don't think we can save a lot from cooking more at home instead of dining out or from buying fewer consumer goods for daily use because these items are less price sensitive.

Job Security Matters

Yu Chunyi, 24, a teacher at the Chongqing Professional College of Building Engineering

For a career freshman like me, it's a double-edged sword to have my first job in a school financed by the central budget. It's less challenging and fulfilling, but surely quite stable, especially when the economy turns bad.

I have just finished a one-year probation period at the professional college after graduating from Chongqing Communications University in July 2007. As a result, my monthly salary has just doubled to around 2,000 yuan ($293).

PRICE MATTERS: Many Chinese say they will consider buying fewer luxury items this year, but not spend less on daily necessities that are not price sensitive (WANG XIANG)

I have barely felt the economic downturn with no change yet in my salary or work. Maybe there is a lag effect before the gloom spreads into inland areas.

I feel so lucky to have such job security when job losses are occurring every day. Even some of my best friends have recently lost their jobs or are made to go on an endless vacation without pay. We girls used to have dinners or get-togethers once a month, but that happens much less often now. So in this sense, I am actually an indirect victim of the financial crisis.

Like other young women, I am always obsessed with fashion. I have saved little since graduation and spend most of my salary on shopping for stylish clothes and luxurious cosmetics despite the economic downturn. My January expenses even hit a record of 3,000 yuan ($439), including New Year's gifts for my parents. I do not see anything wrong with luxury since I can afford it.

By the way, as the Spring Festival approaches, the shopping malls are nowadays launching heavy promotions such as steep discounts, which have enticed me to buy even more than last year.

I would not consider changing to another job at such a time of gloom, but will continue with professional training and further education. I think we young people should continuously improve ourselves even without the financial crisis.

Profits Do Not Come Easy

Li Xiaoli, 25, Public Relations Manager at Shanghai Shuojia Advertising Co. Ltd.

I guess becoming a manager at the age of 25 should be the envy of many young people. But this may not necessarily be true when the economy slows down and the business mood sours. Tough boss and picky clients-neither of them is easy to take.