VCIOM Press-release

31.03.2010

Prese-release № 1251

SAVING MONEY: HOW AND FOR WHAT?

MOSCOW, March 3, 2010. Russian Public Opinion Research Center (VCIOM) presents the data concerning the purposes of Russians for saving money and in what currency. Do they follow dollar exchange rate?

Every fourth Russian today has savings (24%), however till November the number of such respondents is decreasing (from 31%). First of all, they are inhabitants of Moscow (36%) and elder people (28%). There are more amounts of people who don't have savings (from 65 to 71%). As a rule, these people are the inhabitants of towns and settlements (74-76%) and Russians of 25-59 years old.

More often Russians save money to be on the safe side and for a rainy day (27 and 24%). The third popular answer is for buying real estate (20%). Savings for medical treatment is made by 17% of Russians, for education - by 12%, for buying a car - by 11%, for vacation, entertainment or in the case of dismissal - by 9%, for buying luxury goods - by 8%. Rarely the purposes of savings are buying of out-of-town real estate or land (5%), starting a business, increase of cash assets (4%). Nevertheless 4% of respondents are not going to make savings.

The holders of savings point out often that they make it to be on the safe side or for a rainy day (29%), for vacation (13%) and for buying luxury goods (10%). Russians who don't have savings are sure that even having such a possibility, they wouldn't save money (5%).

After slight increase of trust to ruble it decreased again: the number of Russians saving money in national currency fell in October-February from 86 to 79%. Dollars and euro are less popular as before - 8 and 6% of respondents save money in foreign currency. Currency of other countries is almost not in demand (1%). Saving money in rubles is equally peculiar to all Russians except in Moscow and St. Petersburg - there national currency is less popular (79-82% vs. 71%). In Moscow and St. Petersburg people are inclined to make savings in dollars (17% vs. 5-8%) and euro (16% vs. 3-7%).

The interest of Russians to dollar exchange rate is falling: till September the amount of respondents who don't follow it decreased from 54 to 46%. The attention to dollar exchange rate is expressed by population of large cities and capitals (50%) and those who save money in it (89%).

At the same time there a greater number of respondents who don't give much attention to it (from 45 to 52%).

The initiative Russian opinion poll was conducted on January 20-21 and February 6-7, 2010. 1600 respondents were interviewed at 140 sampling points in 42 regions of Russia. The margin of error does not exceed 3.4 %.

Do your family have savings? (close-ended question, one answer)
	2001	2004 March	2004 October	2005 July	2008 January	2009 February	2009 June	2009 July	2009 August	2009 September	2007 October	2009 November	2009 December	2010 February
Yes	22	30	32	18	26	23	26	28	28	28	30	31	28	24
No	73	59	63	74	68	72	66	68	67	66	66	65	67	71
Hard to tell	5	11	5	8	6	5	7	4	5	5	4	4	5	4

For what purposes do you or your family make savings and would you do it if you have the possibility? (close-ended question, up to 3 answers)
	Total respondents	Have savings	Don't have savings
On the safe side, as a reserve	27	29	26
For a rainy day	24	29	23
To buy flat or house	20	19	21
For medical treatment	17	17	17
For education	12	17	17
To buy a car	11	10	12
For vacation, entertainment. traveling	9	13	7
For a case of losing work	9	10	9
For buying expensive goods	8	10	7
For buying land, cottage, house in garden	5	7	5
For own business, buying shares	4	5	4
To get extra revenue, to increase cash assets	4	5	4
No savings for any purposes	4	0	5
Other purposes	4	5	4
Hard to tell	7	3	8

In what currency do you save money? (close-ended question, any number of answers, % of those who have savings)
	May 2006	March 2008	October 200	December 2008	January 2009	February 2008	March 2009	April 2009	May 2009	June 2009	July 2009	August 2009	September 2009	October 2009	November 2009	February 2010
In rubles	86	76	91	85	83	80	87	82	84	80	74	75	75	86	84	79
In dollars	6	2	3	3	5	6	3	5	5	8	6	7	9	9	8	8
In euro	2	5	3	3	6	4	5	6	4	4	5	7	5	8	9	6
In other currency	0	1	0	0	1	1		1	1	1	1	1	0	0	1	1
Hard to tell	7	17	3	8	6	9	6	5	6	7	14	10	10	8	9	14

Do you follow dollar exchange rate? (close-ended question, one answer)
	May 2006	October 2008	December 2008	January 2009	March 2009	April 2009	May 2009	June 2009	September 2009	October 2009	November 2009	February 2010
Yes, regularly	22	17	17	24	19	18	15	16	16	13	13	12
Yes, sometimes	35	38	37	44	42	37	36	37	38	37	37	34
No	43	44	43	30	37	44	47	46	45	49	48	52
Hard to tell	1	2	4	2	2	1	2	1	1	1	1	2

Note: Using materials from the site www.wciom.ru or www.wciom.com, as well as distributed by VCIOM, the reference to the source (or hyperlink for the electronic media) is obligatory!

Category: Financial behavior of population

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Tendencies

Did you experience any pressure (or restrictions) from federal, regional, or local authorities in 2009 when deciding on the following issues...? (close-ended question, any number of answers, answer "yes")

1600 respondents were interviewed at 140 sampling points in 42 regions of Russia.
The margin of error does not exceed 3.4%.

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