Russians named the main obstacles to the formation of savings

A significant portion of Russians are prevented from forming savings by high consumer expenses. This was reported by TASS with reference to the results of a joint study by Roskachestvo and Finance Mail.

The survey was conducted on October 5-6. 6.4 thousand adult citizens took part in it. The study found that the main barrier for 42 percent of respondents was high costs. Another 39 percent of respondents complained that their own income is only enough for current expenses. The limited amount of available funds prevents them from thinking about additional expenses.

For a little less than a tenth (8 percent) of citizens, constant unplanned expenses serve as a significant obstacle to the formation of savings. Another 3 percent indicated an insufficient level of financial discipline. The same number admitted that they see no point in saving money at all in the current realities.

General economic uncertainty in Russia is also caused by high inflation, the virtual end of the “salary race”, indexation of tariffs for housing and communal services (HCS), increased tax burden (increase in VAT and real estate taxes).