They didn’t learn how to save: what Russians are ready to give up for the sake of saving

A public opinion poll showed that Russians still do not know how to save money “for a rainy day.” At the same time, half of the respondents announced their intentions to save hard-earned money next year. But, right there, compatriots admit: only 18% make savings all the time. Another 25% of those surveyed said they set aside funds “from time to time.”

It turns out that at least 75% of fellow citizens have no airbag at all. Probably, one of the reasons for such a deplorable state of finances is the growth of inflation against the backdrop of falling real incomes of the population. That indirectly confirmed the financial aspirations that the Russians demonstrated in the same opinion poll.

Only half of the respondents reported that they dream of saving some significant amount. 30% of respondents expressed their desire to raise half a million rubles. Another 10% want a slightly more modest amount, from 300 to 500 thousand rubles. Another 9% dream of savings in the amount of 200-300 thousand. It is interesting that no one told about his desire to make a million.

At the same time, there were 10% of fellow citizens who seek to save at least 50 thousand. An amount from 50 to 100 thousand is the ultimate dream for 16% of respondents. And as many as 25% chose an amount of 100-200 thousand rubles as a backlog of financial peace.

In addition, the researchers found out what the inhabitants of Russia are ready to save on in order to save money. The answers are not inspiring. Most often, people are ready to deny themselves the purchase of new clothes, and they are already doing this – this year 71% of respondents saved on new clothes. Further, the article “entertainment outside the home” fell under the reduction, that is, theaters, concerts, cinema and exhibitions. This year, 66% of respondents had to refuse to visit them for the sake of saving money. Almost the same number of people, 65%, donated visits to cafes and restaurants in 2022. Savings on alcoholic products took the honorable last place in this list – 36% of respondents denied themselves alcohol.

“That’s why it’s good that schools have introduced a course of financial literacy,” says economist Stanislav Popov. – There, among other things, they tell how to save. After all, our people still go from one extreme to another. Some are ready to walk. For others, the concept of “saving” means cutting back on everything, including even food. Do not go anywhere, buy the cheapest things … But you can save a part of your income from absolutely any amount, provided that it covers your living wage. That is, income is greater than the necessary current expenses: for rent, taxes, food, transport, school and circles for children, etc. The simplest financial schemes will help to rationally allocate the budget. They are everywhere and well described, suitable for different psychological types of consumption. But for some reason people don’t use them…

– For people who are not very good at counting and tend to spend more than they earn, what would you advise?

– The most popular, the so-called English college method, is to save 20% from each receipt of money. More is possible, if possible, less than 20% is impossible. 10% and even 12% (and I have heard such advice) does not work. I won’t go into the details of the theory. The point, however, is that 20% must be subtracted from any incoming amount, large or small. Take it as a rule and do not carry money. I know impulsive people who get a separate card and, knowing themselves, just keep it at home, do not carry it with them.

– If someone does not like this method?

– Then there are “4 envelopes”. It is very suitable for people who are not too frugal, who want to save, but do not want to cut themselves in new clothes, in some kind of entertainment. And those who earn well, but still spend more than they receive. So, the point is that 10% of the total income of all family members at the beginning of the month is immediately set aside. This will be the family’s stabilization fund. From the rest, we subtract the sum of all current expenses, including the cost of cellular communications, circles for children, and so on. Some still add 10-15% there for unforeseen expenses. All that is left is divided into 4 parts, into 4 “envelopes”. One “envelope” for everything is spent per week. For shopping, entertainment, goodies, etc. The main condition here is never to get into another “envelope”. If you are planning a large purchase, save up money from the “envelopes”, spend less of each each week, or spend nothing at all. If possible…

– Are there other ways to save money?

– Of course there is. There are quite a lot of them. But of the simplest, there are also “6 jugs”. By the way, for some reason it is believed that the method of “envelopes” is more suitable for women, and “6 jugs” are preferred by men. The point is the following. We collect all the money again at the beginning of the month, and lay it out in “jugs” in a certain proportion. The first “jug” is our means of living (current expenses) – 55% of total income. The second for entertainment – 10%. The third is for savings, 10%. This is not rainy day money, but a bank account, an investment that earns interest. Accordingly, we do not touch this “jug”, no matter what happens. But the fourth “jug”, also 10% – just “about a rainy day” or goes to large purchases. We spend it either at the end of the year, or if some kind of force majeure has formed in life. The fifth “jug” and also 10% – for gifts. Indeed, it is difficult if you are invited somewhere or money is collected at work, but there is no money. And here, please. And finally, the sixth “jug” with a capacity of 5% for education and self-development. Circles, clubs, tutors, fitness… Although, probably, taking into account Russian realities, the payment for tutors should be partially transferred to the first pitcher, it’s expensive. But for fitness in the gym enough.