Around 40% Russians do not make savings, according to a survey by Superjob. The Russians who manage to set aside some money would not be able to live on it for more than a year.
The survey found that 60% of Russians have savings. In case of losing their job, they would be able to support themselves on these savings for an average of 3.7 months. Around 16% of respondents said that the savings would not be enough for a month while 21% are certain they would be able to have enough resources for one to two months. Only 12% said they would be able to live on their savings for three to six months, TASS reports.
Some survey respondents admitted they do not keep records of their income and expenses (29%). At the same time 53% keep records while only 18% are monitoring their finances stringently. Twenty-one percent do not plan their expenses while 40% plan them for less than six months in advance and only 23% plan six to twelve months ahead. Only 16% plan for more than a year ahead.
Compared to a similar survey in 2008, Russians are currently saving less. In 2008, 72% respondents said they make savings.
The Superjob survey was conducted on April 1-4, 2019 among 1,600 participants.