Russians lose approximately 50,000 rubles annually by keeping their money at home, according to Alexey Tarapovsky, founder of Anderida Financial Group, in a conversation with “Gazeta.Ru”.
He explained that, on average, Russians store about 203,000 rubles “under the mattress,” which constitutes roughly 23% of all their financial assets.
This calculation is based on the volume of cash in circulation and the number of people over 18 who are capable of saving. The analysis also considered inflation levels and the average interest rates on bank deposits.
Tarapovsky noted that around 80% of Russians keep some cash at home as a reserve, while approximately 10% fear they might need the money urgently and won’t be able to withdraw it in time. Another 5% prefer to pay for purchases exclusively in cash. The rest cited various other reasons.
Reasons related to a low level of trust in the modern Russian banking system are relatively rare.
Among those who keep money at home, 70% also have a savings account or bank deposit. About 40% do not consider cash as savings, believing that this money “just needs to be there,” Tarapovsky concluded.
The survey was conducted among 1,550 people in May-June 2024. The calculations were based on statistical data from the Central Bank and Rosstat.
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