The study showed how Russians assess their financial literacy

A year ago, Russians felt a little more confident in handling money – their own assessment of financial literacy was higher than now, according to a study by the online loan service Robot Seimer, which is available to RIA Novosti.

The study was conducted at the end of June this year on popular social networks. In total, more than a thousand Russians living in all 85 regions of the country took part in it, who were asked to evaluate their financial literacy using a five-point system. A similar study was conducted in April 2019.

The average score that the Russians assigned their knowledge in April last year was 3.1. In June of this year, the average score fell to 2.7, according to the results of the study.

“The level of financial literacy of the population is unlikely to have changed. Self-confidence has changed in the context of ongoing economic uncertainty,” analysts at the Robot Seimer online lending service said.

So, for example, according to experts, citizens who previously had a bank loan as a familiar and thoroughly known tool, now, due to the tightening of their credit policies, banks have been refused and forced to look for new, alternative sources of borrowed funds. From here follows a negative assessment of their knowledge of the financial market, analysts explained.

According to the results of the study, the largest group of respondents – 34.8% – set themselves a minimum rating of “1”. For comparison, last year this group was also the largest, but made up 31% of the respondents. At the “deuce” their level of financial literacy was estimated by 10% of respondents, although last year they were 9.5%. The group of those who consider their knowledge of the financial market satisfactory has remained unchanged – 25.3%.

“Khoroshistov” and “excellent” financial literacy for the year has become noticeably less. At “4”, only 10.6% of respondents rated their knowledge, while in April 2019 they were 13.3%. This year, 19.3% of Russians give themselves the highest rating, which is less than last year’s share of “excellent students” equal to 20.9%, the authors of the study shared the results.

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. (Source: rambler)