The National Financial Research Agency concluded that “Russians today are not inclined to risk in their financial behavior.” On the sign: "Credit in an hour. Up to 35,000 rubles."
Photo: Îëåã Õàðñååâ
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Russians Learn to Avoid Financial Risk
Only 5 percent of Russians were inclined to take financial risks while making personal investments in 2008, the National Financial Research Agency has determined in its evaluation of public experience investing in financial companies and banks. The major of respondents in the agency's survey (78%) had no experience with investment in the last six years. Seventeen percent of respondents had experience with some form of investment in financial institutions – 8 percent of respondents made a profit, 3 percent lost money and 6 percent broke even.
The survey showed that Russians have become more financially literate in the last year and more cautious with their investments. In 2004, 24 percent of respondents had investment experience, and the proportions of those who lost money (7%) or broke even (13%) were higher. In 2005 and 2006, the percentage of people who had investment experience was 16. The proportion of people who make profitable investments grew from 4 percent in 2004 to 8 percent in 2008.
The pollsters at the National Financial Research Agency concluded that “Russians today are not inclined to risk in their financial behavior.” The researchers used willingness to deposit money in an account with 20-30 percent annual interest. The majority of respondents (73%) would not risk making such a deposit, while they would accept the offer at 14 percent. The researchers took that as a sign of the danger of being lured into dealings with unscrupulous financial companies. Reliability was the first priority for Russians. One-third of respondents expressed a preference for high reliability and low interest over middle reliability and middle interest. Only 5 percent of respondents preferred high interest and low reliability. The researchers note, however, that financial literacy remains low among Russians. Forty-six percent of respondents were unable to name the upper limit of interest rates for deposits on the market.
www.kommersant.com
All the Article in Russian as of Apr. 15, 2008
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