Majority Of Russians Have No Money To Save

Most Russians Have nothing To Save

According to a recent poll many Russians have very little or no money saved up. Many Russians have different interpretations on the term “savings” depending on subjective notions about the amount of saved funds. Sixty-three percent of the people who took part of a poll conducted by the National Agency of Financial Research said they have no money saved up at all. (Photo Credit: B Tal)

Twenty-nine percent of the people said that they were saving money just in case of a rainy day. They do not save to buy apartments or cars for themselves. Many Russians are uncertain of their future, so they have no specific goals for their savings.

It is worth noting that the people surveyed could deliberately underestimate the amount of their savings or reject them completely. When they were asked which sums of money could be referred to as savings, the respondents named amounts from 10 to 200 thousand rubles ($350-$7,000).

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