Managing a personal budget well is the key to a prosperous life. Many people imagine big earnings and spend what they have on today, or they chase a single financial instrument. Yet steady saving builds real security.
In Russia, the habit of regularly setting money aside for the future is just taking shape. People often wait for a big windfall like an annual bonus, a gift, or an inheritance. Our research shows that 43% view such income as worth about one month of earnings, while 57% see it as two or more months’ pay.
But saving can start with as little as 100 rubles. If that amount is saved daily, a weekly total of 700 rubles accumulates, and over a year the sum reaches about 36,500 rubles.
Set a concrete goal to save at least 10% of income each month. A dedicated savings account helps start the habit. It can be opened in the mobile app or on the bank’s website. Naming the account something like My Money can create a mental barrier against impulsive purchases and protect the discipline of saving.
Wellbeing does not depend on earnings alone but on saving. The study indicates that about a quarter of Russians (24%) plan to spend a large portion of extra income on current needs. That approach can undermine a healthy budget, where income should exceed expenses and a one off influx of money should not redefine ongoing spending levels.
Many people try to close loans at all costs. Our data show that 26% are willing to allocate a large portion of extra income to loan repayment, a move that can cause emotional stress, trigger more spontaneous spending, and shrink the available safety cushion.
The suggested approach is practical. Up to 10% of the budget replenishment can be used for gifts to oneself and family, creating a positive moment around money received. Then at least 30% should be set aside for an emergency fund. The remaining amount can be directed toward loan repayment, prioritizing consumer loans first, followed by mortgage loans. Credit card expenses should be covered from regular spending, not from windfalls.
Another mistake is to rely on a single currency or instrument. The data show that only 28% of Russians diversify their portfolios. Seventy percent explore a mix that includes deposits or savings accounts, with 28% sticking to currency and 13% choosing stocks and bonds.
Diversification matters because risk exists everywhere. Bets on one instrument expose the portfolio to shocks that can come from unexpected events. A broader mix across assets helps stabilize long term outcomes.
Finally, a pragmatic, consistent financial strategy matters most. Staying calm and following the plan increases income potential and improves overall finances over time.