In hard times, Russians would first of all cut off expenses on clothing and entertainment. Fitness expenditures would come next.
No fun and fashion for hard times
In a situation of financial stress, which obviously have not arrived yet, Russians would save on their usual expenditure on clothes, entertainment and fitness, a recent poll revealed.
1,800 Russians aged 18+ told researchers what articles of expenditure they would forfeit or spend less on if they had to cut back. The respondents could pick up to three nominations for savings.
More than half of people would save on purchasing clothing (61%), cultural activities (52%) and fitness (51%), if they had less funds to spend.
Locals were more hesitant to save on paid medical services (19%), food (17%) or education (15%).
Only 5% would cut on buying medicines. 9% would postpone paying utility bills.
Other costs where it’s possible to cut off didn’t exceed 4% altogether. For example, people would still pay for Internet and mobile phones, even if their income suddenly dropped.
Things Russians are prepared to save on
- Clothing, furniture, household appliances: 61%
- Cultural activities and entertainment: 52%
- Fitness and exercise: 51%
- Paid health care services: 19%
- Food: 17%
- Education: 15%
- Paying for utilities: 9%
- Medicine: 5%
- Other: 4%
Data by WCIOM.ru.
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I would like to say that when we are in a difficult financial situation, we will have to reduce expenses. Moreover, expence reductions can affect everything. As for me, I would save on clothing, furniture, household appliances, fitness and exercise and partially on food. I wouldn’t save on medicine and health care services.
It is hard to say what I would do in a hard times. But for me definitly will be hard to cut my expenses on food and on car. I also try to save some money for crisis period. Right now I have a loan in bank and so I try to work more so I can still live my life without any changes.