A recent survey conducted in Russia reveals that a sizable portion of adults struggle to track their personal finances. In a study involving a representative sample, roughly one in three respondents, about 35 percent, admitted they do not know with precision the total amount of money they have across cards, deposits, savings accounts, and cash on hand. This finding underscores a broader challenge in financial literacy and money management, showing that a meaningful share of the population keeps less than perfect tabs on their liquidity. The data emerged from a collaboration between a major retail bank and an insurance provider, with socialbites.ca serving as the platform for reporting the results.
When participants were asked to specify their current monetary holdings, 65 percent could state the exact amount. The survey highlighted regional differences in financial awareness, with residents of the Far East demonstrating the highest level of precision at about 70 percent, while other regions lag behind. A notable 29 percent could only offer approximate figures, and a small but nontrivial 6 percent were unsure of their reserves entirely. These gaps were especially pronounced in certain macro-regions, including the Far East and the North Caucasus, where around 11 percent of respondents did not know their exact balances.
The survey also explored daily financial discipline. More than a third of participants, roughly 38 percent, monitor their income and expenditures on a regular basis, whether daily or monthly. The city and province with the strongest habits in this area were those around Saint Petersburg and the Leningrad region, where the share reached about 40 percent. In contrast, residents of the Far East were the least likely to track cash flow consistently, with only about 30 percent doing so. A larger group, about 44 percent, calculate their finances from time to time rather than on a fixed schedule, while 11 percent admitted they do not keep track of income and spending but express a desire to start. A smaller segment, around 10 percent, currently does not consider their finances and does not intend to start recording such information, with higher proportions observed in the Far East and lower shares in Moscow, the Moscow Region, and the Volga Federal District.
Regarding changes in overall financial conditions, the survey found that more than a third of respondents, 38 percent, reported no improvement or deterioration in the last two years. In contrast, 28 percent indicated some improvement, with 21 percent saying it improved quite a bit and 7 percent noting definite improvement. These numbers provide a window into how households perceive their financial trajectory over a sustained period and help illuminate the emotional and practical impact of income stability on daily life.
The fieldwork for the survey took place over a concentrated period from late July to early August, engaging a nationally representative panel of 1,560 Russians aged 18 to 65 across macro-regions and urban centers with populations exceeding 100,000. The methodology aimed to capture a diversity of experiences and financial practices rather than a single snapshot, offering a nuanced picture of money management trends across different communities.
In the broader context of financial behavior, the report signals persistent attitudes toward passive income among the population. A portion of respondents indicated awareness or engagement with the concept of earning without active labor, illustrating an interest in diversified income sources and savings strategies that could influence future financial planning, budgeting approaches, and risk tolerance. These findings, while rooted in a specific moment, point to ongoing conversations about money, security, and resilience in everyday life. Source: Otkritie Bank and Rosgosstrakh Zhizn, with reporting by socialbites.ca.