Approximately 38% of employed Russians have no financial cushion in case of emergency, according to business daily RBC, citing research conducted by headhunting firm SuperJob on Thursday.
Among those with savings, the study found that 13% could live on their savings for less than a month, 24% for one to two months, 12% for three to six months and 7% from six months to one year.
Only 6% of respondents said that their savings could last them for more than a year without a salary.
The research found that men are more likely than women to track their finances and plan expenditures further in advance. Russian men also report higher scores for self-assessed financial literacy.
The researchers noted that, overall, Russians have become more attentive to their financial management.
Compared to a similar survey conducted in 2023, there has been a 12% increase in the number of people keeping financial records, and a 10% rise in those planning budgets.
Separate findings from a survey by accounting firm Aktion Buchgaltera suggest that Russian employers are preparing for wage reductions.
16.5% of enterprises reportedly plan to decrease salaries within the next year, while 3.6% of companies intend to implement such cuts within the coming three months.
In 41.4% of cases, companies cited declining revenues and a need for better financial management as reasons for reducing salaries.
The majority of surveyed businesses, 93.3%, stated that they had not reduced salaries in the last two to three years.
A Message from The Moscow Times:
Dear readers,
We are facing unprecedented challenges. Russia's Prosecutor General's Office has designated The Moscow Times as an "undesirable" organization, criminalizing our work and putting our staff at risk of prosecution. This follows our earlier unjust labeling as a "foreign agent."
These actions are direct attempts to silence independent journalism in Russia. The authorities claim our work "discredits the decisions of the Russian leadership." We see things differently: we strive to provide accurate, unbiased reporting on Russia.
We, the journalists of The Moscow Times, refuse to be silenced. But to continue our work, we need your help.
Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and every contribution makes a significant impact.
By supporting The Moscow Times, you're defending open, independent journalism in the face of repression. Thank you for standing with us.
Remind me later.
