MOSCOW, May 7, 2009. Russian Public Research Opinion Center (VCIOM) presents the data about how often Russians borrow and lend money and why they do this.
The overwhelming majority of Russians try not to borrow money. 84% of respondents say they never or rarely do it. Not surprisingly, those who tend to borrow money more often than others are respondents with low financial self-esteem. Thus, 23% of Russians with low income say they often borrow (76% - not often), simultaneously, the share of respondents with high financial self-esteem who think the same are 10%.
Russians rarely lend money. 44% of respondents mentioned that they rarely lend money, 41% - "almost never" and only 11% of respondents do it "often", and 3% - "constantly". Those with high financial income more often lend money to their relatives and close friends (55% say they do it, but rarely, and only 32% never do it), than respondents with low income (35% report they do It, but rarely, at the same time 53% say they never do it).
We lend money because we are kind! When lending money Russians with incomplete secondary education think that "people should help each other" (28%); they also do it due to their "kindness and responsiveness" (19%) and their inability to say no to their close relatives and friends (16%). Russians with higher education diploma rarer mention the need for mutual help (18%), they also more often put attention to their kindness and responsiveness (23%), and equally point out that they cannot refuse (16%). Russians very rarely report that they lend in order to get future assistance (3-6% in all groups); a small share of Russians (3%) does it because they are confident to get refund; some respondents (3-7%) do it because they have enough money to lend. And only 6% report they lend because the one who ask for money is in desperate situation (1% of those with incomplete secondary education against 7% of those with higher education).
The main reason why Russians refuse to lend money is the lack of financial resources (67%). The older the respondents are, the more often they complain they cannot lend money because they have got nothing (78% - of respondents aged 60 and above against 54-61% of those aged 18 - 44). Young people, as a rule, more often then the elderly persons are worried they will not get their money back (13% against 7%). Young people and middle-aged respondents often refuse to lend money due to their "principles" (11-16% of respondents aged 18 - 44, against 4-6% of respondents aged above 45).
The initiative Russian opinion poll was conducted on March 28-29, 2009.
1600 respondents were interviewed at 140 sampling points in 42 regions of Russia.
The margin of error does not exceed 3.4%.
Could you tell how often you borrow money? (close-ended question, one answer) | ||||
| Total respondents | Financial state self-assessment | ||
very good, good | average | bad, very bad | ||
very often, constantly | 4 | 0 | 2 | 8 |
quite often | 10 | 10 | 9 | 13 |
not often, rarely, sometimes | 34 | 36 | 38 | 25 |
almost never | 50 | 53 | 49 | 51 |
hard to tell | 2 | 1 | 2 | 2 |
Could you tell how often you lend money? (close-ended question, one answer) | ||||
| Total respondents | Financial state self-assessment | ||
very good, good | average | bad, very bad | ||
very often, constantly | 3 | 2 | 4 | 3 |
quite often | 11 | 11 | 12 | 8 |
not often, rarely, sometimes | 44 | 55 | 47 | 35 |
almost never | 41 | 32 | 36 | 53 |
hard to tell | 1 | 0 | 2 | 1 |
If you lend money, then why? (open-ended question, not more than three answers, % of those who lend money) | |||||
| Total respondents | Education | |||
Elementary, or lower, incomplete secondary education
| Secondary (school, technical college) | Secondary special (college) | Incomplete higher (not less than 3 years), higher | ||
a person is in desperate situation, there is no one who could help him/her | 6 | 1 | 5 | 6 | 7 |
my close relatives/friends ask to help | 15 | 16 | 12 | 17 | 16 |
people must help each other | 21 | 28 | 26 | 19 | 18 |
me myself will need help in the future | 4 | 6 | 4 | 3 | 4 |
I am kind and responsive and I trust people | 21 | 19 | 22 | 21 | 23 |
I cannot refuse when someone asks for help | 11 | 7 | 11 | 9 | 13 |
I am confident I will get money back | 3 | 3 | 3 | 3 | 4 |
if I have enough money, I am ready to help | 6 | 3 | 7 | 7 | 6 |
other | 0 |
| 0 | 0 | 0 |
hard to tell | 15 | 19 | 14 | 19 | 11 |
If you DO NOT lend money, then why? (open-ended question, not more than three answers, % of those who do not lend money) | ||||||
| Total respondents | Age, years | ||||
18-24 | 25-34 | 35-44 | 45-59 | 60 and above | ||
no one asks me | 7 | 6 | 13 | 4 | 5 | 6 |
I am afraid I will not get my money back | 10 | 13 | 9 | 9 | 12 | 7 |
I have nothing to give, I do not have enough financial resources | 67 | 61 | 54 | 61 | 71 | 78 |
it contradicts with my principles, this is wrong | 8 | 11 | 12 | 16 | 6 | 4 |
other | 0 | 0 | 1 | 0 | 0 | 1 |
hard to tell | 10 | 13 | 13 | 9 | 9 | 6 |
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!