Recent findings from the PSB Blagosostoyanie study place St. Petersburg at the forefront of financial literacy among Russia’s regions. The northern capital leads the Local Residents’ Financial Success Index with a score of 49.1, indicating a strong ability among residents to manage money, save, and plan for the future. More than half of city dwellers keep their savings in bank deposits, while a sizable portion – over 40% – actively invests. Analysts expect the investor base in St. Petersburg to keep expanding as financial awareness grows and new opportunities emerge.
Chechnya follows closely with 46.2 points. The region shows a cautious approach to debt, with roughly 30% of residents not holding any credit. Among those who do borrow, nearly half manage only a single loan, suggesting prudent borrowing behavior and an emphasis on financial stability.
Ranked third is the Kaliningrad region. The study highlights that a majority of residents enjoy some form of financial support, and about one in five have access to resources that can sustain them for a year or longer, reflecting a solid safety net and forward-looking planning among households.
Moscow, in contrast, sits at ninth place with a score of 44.8, indicating room for growth in financial literacy compared to the top performers. The list of other top scorers also includes the Irkutsk region, Kamchatka, Nizhny Novgorod, Volgograd, Voronezh, and Omsk, illustrating a diverse national landscape in financial education and behavior.
These results align with broader observations across the country, where a growing share of Russians recognize the importance of financial literacy and seek more information to improve personal money management. Analysts note that steady improvements in financial education can lead to better budgeting, more responsible lending choices, and greater long-term financial security for households.
Experts have also highlighted common missteps that families make as they navigate money matters. Early financial education for children is crucial, helping the next generation build healthier money habits and greater confidence in managing income, expenses, and savings. By focusing on practical skills such as budgeting, saving for emergencies, and understanding debt, families can lay a strong foundation for financial well-being that lasts well into adulthood.