Strategies in case of financial difficulties Russia 2022

As of March 2022, expenditure cuts were named a strategy in case of serious financial difficulties by most Russians. Slightly over one half of survey participants responded that they would look for an extra source of income. The share of those who would apply for a bank loan amounted to only five percent.

If you or your family faces serious financial difficulties, which of the following would you do?

Characteristic	Share of respondents
Cut my spendings, try to get along without some things	66%
Find an extra job	53%
Spend savings (either those in cash or from the bank account)	25%
Borrow some money from relatives, friends	19%
Sell some of my property	16%
Use the existing credit card or apply for a new one	13%
Postpone my bills payments (utilities, loan payments)	11%
Pawn some of my property	8%
Take a loan from a bank	5%
Ask my employer for a loan or early payout	4%
Take a microloan (from a microfinancial organization)	3%

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Release date

March 2022

More information

Region

Russia

Survey time period

March 2022

Number of respondents

1,600 respondents

Age group

18 years and older

Supplementary notes

The survey was conducted in 53 regions of Russia
The original question was phrased as follows: "Если случится так, что у Вас (Вашей семьи) в ближайшее время возникнут серьезные финансовые трудности, что из перечисленного Вы предпримете?"
Multiple answers were possible.

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