The Russians thought about the financial cushion

After the isolation of about 40 percent of Russians have decided to save for a rainy day, according to a survey quoted by TASS.

During the quarantine, the opinion of a “financial cushion” has changed: almost 40 percent of Russians in General, and 43 percent of inhabitants of Moscow and Moscow region want to create private reserves, although earlier money is not hoarded.

More than half of Russians are planning to cut costs. About 20 percent of respondents reported adequacy of saving for a rainy day. About 32 percent of Russians do not plan to save. Only 36 percent of Russians want to keep the cost decoratinga level, 3 percent are willing to spend more than quarantine, and 30 percent of respondents do not exclude the reduction of spending on food.

Previously, the survey of the Boston Consulting Group and “romira” pointed to the changing habits of the Russians because of the pandemic. Residents planning to reduce expenses, to spend more time with family and to relax in nature, more exercise.

In April 2020 household deposits in Russian banks grew by 371 billion rubles (+1,2%) after outflow in March (-315 billion rubles., or -1.0 per cent). Foreign currency deposits in April for the fourth month was reduced according to the statistics of the Bank of Russia. Since the beginning of April the amount of individuals ‘ deposits in foreign currency fell by 1.2%, or $1.1 billion, compared to may 1. From the beginning, the Russians withdrew from the accounts of $8.3 billion, or all foreign currency savings for 2019.

At the end of March deposits of individuals in Russian banks fell by a record amount of RUB 315 billion, or 1%, mainly in foreign currency, while the ruble-denominated deposits was stable, according to the Central Bank.