Best of the Week
Most Popular
1. Investing in a Bubble Mania Stock Market Trending Towards Financial Crisis 2.0 CRASH! - 9th Sep 21
2.Tech Stocks Bubble Valuations 2000 vs 2021 - 25th Sep 21
3.Stock Market FOMO Going into Crash Season - 8th Oct 21
4.Stock Market FOMO Hits September Brick Wall - Evergrande China's Lehman's Moment - 22nd Sep 21
5.Crypto Bubble BURSTS! BTC, ETH, XRP CRASH! NiceHash Seizes Funds on Account Halting ALL Withdrawals! - 19th May 21
6.How to Protect Your Self From a Stock Market CRASH / Bear Market? - 14th Oct 21
7.AI Stocks Portfolio Buying and Selling Levels Going Into Market Correction - 11th Oct 21
8.Why Silver Price Could Crash by 20%! - 5th Oct 21
9.Powell: Inflation Might Not Be Transitory, After All - 3rd Oct 21
10.Global Stock Markets Topped 60 Days Before the US Stocks Peaked - 23rd Sep 21
Last 7 days
CATHY WOOD ARK GARBAGE ARK Funds Heading for 90% STOCK CRASH! - 22nd Jan 22
Gold Is the Belle of the Ball. Will Its Dance Turn Bearish? - 22nd Jan 22
Best Neighborhoods to Buy Real Estate in San Diego - 22nd Jan 22
Stock Market January PANIC AI Tech Stocks Buying Opp - Trend Forecast 2022 - 21st Jan 21
How to Get Rich in the MetaVerse - 20th Jan 21
Should you Buy Payment Disruptor Stocks in 2022? - 20th Jan 21
2022 the Year of Smart devices, Electric Vehicles, and AI Startups - 20th Jan 21
Oil Markets More Animated by Geopolitics, Supply, and Demand - 20th Jan 21
Fake It Till You Make It: Will Silver’s Motto Work on Gold? - 19th Jan 22
Crude Oil Smashing Stocks - 19th Jan 22
US Stagflation: The Global Risk of 2022 - 19th Jan 22
Stock Market Trend Forecast Early 2022 - Tech Growth Value Stocks Rotation - 18th Jan 22
Stock Market Sentiment Speaks: Are We Setting Up For A 'Mini-Crash'? - 18th Jan 22
Mobile Sports Betting is on a rise: Here’s why - 18th Jan 22
Exponential AI Stocks Mega-trend - 17th Jan 22
THE NEXT BITCOIN - 17th Jan 22
Gold Price Predictions for 2022 - 17th Jan 22
How Do Debt Relief Services Work To Reduce The Amount You Owe? - 17th Jan 22
RIVIAN IPO Illustrates We are in the Mother of all Stock Market Bubbles - 16th Jan 22
All Market Eyes on Copper - 16th Jan 22
The US Dollar Had a Slip-Up, but Gold Turned a Blind Eye to It - 16th Jan 22
A Stock Market Top for the Ages - 16th Jan 22
FREETRADE - Stock Investing Platform, the Good, Bad and Ugly Review, Free Shares, Cancelled Orders - 15th Jan 22
WD 14tb My Book External Drive Unboxing, Testing and Benchmark Performance Amazon Buy Review - 15th Jan 22
Toyland Ferris Wheel Birthday Fun at Gulliver's Rother Valley UK Theme Park 2022 - 15th Jan 22
What You Should Know About a TailoredPay High Risk Merchant Account - 15th Jan 22
Best Metaverse Tech Stocks Investing for 2022 and Beyond - 14th Jan 22
Gold Price Lagging Inflation - 14th Jan 22
Get Your Startup Idea Up And Running With These 7 Tips - 14th Jan 22
What Happens When Your Flight Gets Cancelled in the UK? - 14th Jan 22
How to Profit from 2022’s Biggest Trend Reversal - 11th Jan 22
Stock Market Sentiment Speaks: Are We Ready To Drop To 4400SPX? - 11th Jan 22
What's the Role of an Affiliate Marketer? - 11th Jan 22
Essential Things To Know Before You Set Up A Limited Liability Company - 11th Jan 22
Fiscal and Monetary Cliffs Have Arrived - 10th Jan 22
The Meteoric Rise of Investing in Trading Cards - 10th Jan 22
IBM The REAL Quantum Metaverse STOCK! - 9th Jan 22
WARNING Failing NVME2 M2 SSD Drives Can Prevent Systems From Booting - Corsair MP600 - 9th Jan 22
The Fed’s inflated cake and a ‘quant’ of history - 9th Jan 22
NVME M2 SSD FAILURE WARNING Signs - Corsair MP600 1tb Drive - 9th Jan 22
Meadowhall Sheffield Christmas Lights 2021 Shopping - Before the Switch on - 9th Jan 22
How Does Insurance Work In Europe? Find Out Here - 9th Jan 22
Effect of Deflation On The Gold Price - 7th Jan 22
Stock Market 2022 Requires Different Strategies For Traders/Investors - 7th Jan 22
Old Man Winter Will Stimulate Natural Gas and Heating Oil Demand - 7th Jan 22
Is The Lazy Stock Market Bull Strategy Worth Considering? - 7th Jan 22
What Elliott Waves Show for Asia Pacific Stock and Financial Markets 2022 - 6th Jan 2022
Why You Should Register Your Company - 6th Jan 2022
4 Ways to Invest in Silver for 2022 - 6th Jan 2022
UNITY (U) - Metaverse Stock Analysis Investing for 2022 and Beyond - 5th Jan 2022
Stock Market Staving Off Risk-Off - 5th Jan 2022
Gold and Silver Still Hungover After New Year’s Eve - 5th Jan 2022
S&P 500 In an Uncharted Territory, But Is Sky the Limit? - 5th Jan 2022

Market Oracle FREE Newsletter

How to Protect your Wealth by Investing in AI Tech Stocks

Russians Don't Borrow Money From Friends

Personal_Finance / Russia Nov 09, 2010 - 06:28 AM GMT

By: Pravda


Russians prefer to borrow from relatives, but are always willing to lend money to their friends. However, friends do not rush to ask for financial support, unwilling to ruin the friendly relations with money matters. However, respondents of the research center do not always favor the requests of their relatives who want to borrow significant amounts of money.

The survey revealed that most of Russians go to their relatives for financial favors (27%). Less frequently they go with such requests to their friends (17%). In turn, 8% of Russians prefer not to complicate personal relationships and take bank loans. Russians of ages 35-44 are most likely to take bank loans (16%).

Another 2% of the respondents are borrowing from coworkers and only 1% borrows from their employer. A significant number of respondents (43%) do not take loans at all, assuming that in any situation they must rely only on their own funds. The number of those who prefer to avoid debt is higher among the respondents over age 45 (59%).

As for lending money, Russians are willing to lend money primarily to friends (48%) and only then - to relatives (24%). In this case, younger respondents more likely to lend to friends, while older Russians prefer to lend to their relatives. Every tenth respondent is willing to lend money to a coworker (10%).

How much money are Russians willing to lend? As it turned out, it depends on their relationship with people asking for help. For example, relatives often borrow large sums (over 30 thousand rubles ($1,000)) - 23%, friends - from 1 to 5,000 rubles ($30 to $170) - 22%, colleagues - 1 to 5,000 rubles or less than 1 thousand -28%, analysts of the Intelligence Center report.

However, many respondents specify that they can lend a substantial amount of money to a coworker only against a receipt. The respondents indicated in the comments that they are willing to help close friends and relatives, even to the detriment of themselves: "I am ready to give my last penny to a true friend," "Whatever they ask for, within reason, of course."

The majority of respondents (70%) provided a negative answer to the question of whether in the past year they borrowed money more frequently: "I try to live within my means," "I borrow even less than I used to." A similar situation is with lending money to others - 77% of respondents reported that last year they did not lend money to others frequently: "No one is asking," "I never lend money. I tell them to go to the bank!"

Russians did go to the bank frequently within the past year, mostly bringing money in, not borrowing.

Throughout the year banks recorded an increase in the number and volume of deposits. In September of this year, the growth of deposits in Russian banks in annual terms amounted to 30.8%, with most of the deposits opened in rubles.

According to a study conducted by, 13% of respondents have deposits in rubles, dollars, euros or other currencies. The second most popular saving method is Forex games (4%), followed by buying gold and precious metals, as well as investments in real estate (3% each). Gold has broken all records long time ago and has grown to be $1,300 per ounce. Interestingly enough, employed Russians prefer investments in gold twice as often as those who currently do not have a full time permanent job (4% vs. 2%).

Only 2% of Russians prefer investing in mutual funds. It seems that mutual funds are not trusted by Russians, and this distrust was aggravated after the loss of mutual funds in 2008.

Every tenth respondent (10%) choses other ways to multiply personal savings. Among them are foreign exchange operations, investments in business projects, and lending money at interest.

More than half of respondents (54%) admitted that in the past 12 months they have not taken any action for the enhancement of their own savings, analysts of reported. Some of them said that they simply do not have anything to increase, while others do not know which ways they can increase their capital: "Investment is risky," "At the moment I am considering the best way to do it."

Anastasia Romasheva

Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.

Pravda Archive

© 2005-2019 - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.

Post Comment

Only logged in users are allowed to post comments. Register/ Log in