Wealthier Russians in the spring and summer of 2022 preferred to save free money, while people with low incomes preferred to spend. This is evidenced by the data of the All-Russian survey of households on consumer finance of the Central Bank of the Russian Federation.
According to the first deputy chairman of the Bank of Russia, Ksenia Yudaeva, the survey was conducted during the “most crisis period” of 2022. Participants were asked how, in their opinion, free money should be managed at the present time.
It turned out that the proportion of those who thought it was right to save money increased as their income increased. In the lowest-income group, more than 50% said it was better to spend the money.
In the group with the highest income, the share of those who consider it right to save money was almost 80%.
Among those who thought it was better to save money, the most common reasons were: low confidence in the future – 34%; high rates on deposits – 33%; high inflation – 17%.
However, high inflation is also leading among the reasons to spend available funds.
The rising cost of goods and services was of most concern to people with the lowest incomes. In the wealthiest group, inflation worried respondents less than the possibility of losing their jobs.
Source: Rosbalt
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