Otkritie: more than a third of Russians save on a permanent basis

The majority of Russians (57%) save money only in case of financial problems, while more than a third (37%) do it all the time, Otkrytie Bank reported in a survey. 7% of Russians do not deny themselves anything, and in Moscow and the Moscow region this figure reaches 12%.

The poll was conducted from June 7 to 11, and was attended by 1,000 Russians aged 18 to 65 from cities with a population of 100,000 or more.

The coronavirus pandemic forced 20% of Russians to save more, the remaining 80% did not change their attitude towards saving compared to the pre-pandemic period. 65% of respondents saved both before the start of the pandemic and after it, 15% did not save and continue not to save.

2% of the respondents are ready to reduce expenses on whatever. 71% of Russians are already saving on entertainment, 62% on travel, 52% on buying gadgets. 40% and 23% of Russians save on clothes, shoes and food, respectively.

In April, State Duma deputies from United Russia introduced a bill proposing to soften the requirements for obtaining the right to personal out-of-court bankruptcy. It is proposed to give such a right to low-income Russians, whose monthly income is no more than two regional living wages, provided that they do not have property that can be foreclosed.

For more details, see the Kommersant article “Bankruptcy for the Poorest”.

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