The savings attitudes and behavior of Russians have hardly changed in recent months. The number of respondents who do not see changes in their ability to save is growing. The amount of savings is stabilizing. The attractiveness of bank deposits and real estate as an investment asset is growing.

Another study of the level of social sentiment indicates that confidence in political and economic stability continues to strengthen in society. The trend towards improving the background of public life can be traced throughout the second half of 2023 and characterizes the beginning of 2024. In principle, social well-being is subject to seasonality, and January is characterized by an improvement in indicators.

Индекс социальных настроений: детализация

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The savings sentiment of Russians reflects the trend towards stabilization, which is noticeable in general indicators. Compared to September last year, the share of Russians who believe that their savings opportunities will not change has increased by 5% (50%). The number of “pessimists” expecting a decrease in their capabilities has decreased slightly (by 4%; 23%). These changes continue the trend that appeared in 2023 – a decrease in fears against the background of adaptation to the socio-political situation.

The trend towards normalization is confirmed by another consonant question – “is now a good or a bad time to save?”. In five months, the number of those who answered “neither good, nor bad” increased from 42% to 47%. Although the share of “pessimists” is slightly decreasing, the number of those who consider the current time to be good for saving, and believe that they will have more opportunities to postpone savings in the future, does not increase significantly.

The size of Russians’ savings did not change significantly during 2023. 35% of respondents noted that they do not have any savings, 42% of Russians surveyed have savings in an amount not exceeding the size of the monthly family income.

If you compare your family’s savings with your family’s average monthly income, they are: (in %)

Since September 2023, the attractiveness of storing savings in a bank in rubles has increased markedly, and interest in real estate as a way to save money continues to grow: compared to August 2022, the share of Russians who consider buying real estate the best way to dispose of money increased from 27% to 38%. Interest in real estate may be due to the attractiveness of preferential mortgage programs that apply to significant groups of the population.

The share of Russians who prefer to save money in ruble cash has been declining for several months in a row, indirectly confirming a decrease in anxiety in society – Russians resort to cash during periods of socio-political instability and falling confidence in banks. The attractiveness of storing funds in foreign currency – in cash or in bank accounts – has significantly decreased after February 2022.

Among other trends, we can draw attention to some, albeit statistically insignificant, renewed interest in securities, interest in which increased by 3% over the year.

What is the best way to keep savings now? (in %)

The stated financial goals of the Russians have not changed much. About a quarter of the respondents save up for real estate (23%). In January 2024, their number is slightly higher than a year earlier (19%). The frequencies of other responses have not changed much. In second place is the accumulation for a car (13%), almost the same amount (12%) is saved for rest and travel.

Do you have a long-term financial goal that you are saving for? If so, what is it? (in %)