22 May 2014, Thursday, 17:22

Half of Russians have enough income only for current needs - VTSIOM

author: Elvira Latypova

Russians spend 47 percent of all revenues for the current needs, according to the latest statistical survey by the Russian Public Opinion Research Centre. Respondents with incomes below average (57 percent) do this more often than respondents with high income (26). 36 percent of Russians first spend money on everyday needs and then save the rest.

Only 15 percent of respondents first set apart some money and then spend what is left. This is more typical for respondents with high incomes (22).

VTSIOM also found for what purposes the Russians would save funds in case of such opportunity. Most often our citizens would save for a "rainy day" (27 percent), for a purchase of housing (26), or simply "as a reserve" (24). Respondents also would save for medical treatment (21), rest and recreation (16).

Goals change with people’s age. Thus, people older than 60 years more likely save for a "rainy day" (51 percent) and medical treatment (35). 25-34 -year-olds would prefer to save for the purchase of flats (45), rest and recreation (25).

12 percent of respondents are willing to save for education. One tenth of respondents are going to save for buying a car (10 percent) or other expensive items (9). Every tenth respondent would make savings in case of job loss. 6 percent of Russians plan to collect money to buy a summer cottage.

Only four percent of respondents would not make savings for any purposes.

The survey was conducted in 42 regions of Russia. 1600 respondents were interviewed. The statistical error does not exceed 3.4 percent.