RIA Novosti: One in six Russians overwhelmed by debts – poll

Cash, Calculator, Pen

(RIA Novosti – Moscow, November 6, 2015)

The majority of Russians are unsatisfied with their financial situation, and nearly each one in six is overwhelmed by a large amount of debts, according to a survey conducted by the National Financial Research Agency.

Some 17 per cent of citizens complain about an enormous amount of debts. The percentage of those having debts is higher among villagers (23 per cent) than among city dwellers (16 per cent). The situation is the most difficult in Far Eastern Federal District, where 42 per cent of citizens complain about the debts.

Some 70 per cent of Russians try to pay their bills on time. This is more typical for citizens over 50 years of age (72 per cent) than for young people between 20 and 29 years of age (63 per cent).

About a third of Russians noted that they were preoccupied by the lack of money (38 per cent). This problem is more acute among rural residents – 50 per cent. Among city dwellers 35 per cent complain about the lack of money.

Nearly half of Russians (45 per cent) are dissatisfied with their financial situation and a third of the respondents (31 per cent) were undecided. Only a quarter of Russians (24 per cent) is satisfied with their current financial situation.

“The fact that financial discipline is more typical for Russians over 50 than for young people is a rather worrying sign. Usually the financial burden on younger people is significantly larger, consequently, providers of different services might suffer significant losses if people refuse to pay their bills,” the head of the banking sector research department at the National Financial Research Agency, Irina Lobanova, said, commenting on the survey results.