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Only 30 Percent of Russians Save Money
7.12.2012 15:02

The share of those who have the means to save money hasn’t changed over the past seven years, with the key obstacle being the low income level, reads a report by the National Agency for Financial Studies (NAFI).

      Part of the problem is poor financial literacy among Russians, with only a fourth of the population keeping track of the balance sheet.

      Those who do save money opt to place their spare finances on a bank deposit or keep their cash in a stash.

      In terms of investment goals, the share of long-term savings are growing, with most respondents putting money aside to buy real estate, while the number of people looking to save on a new car is declining.



Author: Mikhail Vesely

Tags: Banking in Russia Sberbank VTB Capital National Agency for Financial Studies  

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