January 01, 2019 08:23
Primers on financial planning no longer target what used to be the standard four-person household in Korea but focus increasingly on the growing numbers of singles.
The proportion of single households rose from just 15.5 percent in 2000 to 28.6 percent last year, so they account for almost one in three.
Books teaching singles how to manage their assets have a common message: cash is the best friend a person can have. Many teach readers how to save money on little things.
A common characteristic of singles is a penchant for postponing the purchases of homes until marriage. But these books teach them to make home purchases a priority as well as saving up cash for retirement.
The main readers are women in their 30s and 40s. Suh Sun-haeng at Gana Publishing said, "Men tend to be more interested in investing than in saving money and aren't as attracted to self-help books. But single women in their 30s and 40s are avid readers of such books because they're afraid of growing old alone."
"These books are especially popular as gifts now people make plans for the New Year," she added.
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