More than 80% of Russians lost their savings after the start of the war

More than 80% of Russians partially or completely lost their savings after the Russian invasion of Ukraine, follows from the results of a survey by AlfaStrakhovanie (available from The Moscow Times).

Every fifth (21%) of the respondents said that they lost almost all their savings, 52% lost a small part of them. Another 8% admitted that they completely lost their financial airbag. And only 19% of those surveyed said that they had not lost anything.

Despite this, more than half of respondents (58%) admitted that they manage to save money, but for 39% it became much more difficult to do this after February. Every fifth since the beginning of the war abandoned the idea of ​​capital accumulation.

A third of the respondents also said that their expenses for daily needs have increased by 20-30% since February. Another 30% estimated an increase in spending at 10%, and 15% of respondents – at 30-50%. For 6%, spending was reduced, 82% of them reported spending more than 50% less.

Russians who have savings want to spend them on children (22%), invest in real estate (20%), improve their own health (14%) plan or invest in self-development (12%).

According to the survey, 12% of Russians began to take consumer loans more often. At the same time, 18% of respondents issued credit cards for the first time. Previously it was reported that in search of loans, citizens are increasingly turning to microfinance organizations (MFIs). Over the first six months, the volume of microcredits issued increased by 20%. People are ready to borrow even at gigantic interest rates: the average rate of MFO loans within 30 thousand rubles for 30 days is 353%.

After the start of the war in Ukraine and tough sanctions against Russia, the real incomes of the population decreased. People began to sell their property and buy used goods. So, a third of Russians (31%) began to sell things more often on Internet platforms for posting ads. 14% noted that they had already sold everything they could.