More than half of Russians reported that they are saving money for their children's future

More than half of Russians save money for the future of their children, of which 40% save when they have the opportunity, and 14% do it regularly. This follows from the survey of the financial marketplace "Compare", the results of which "Izvestia" got acquainted with on November 20, the International Children's Day.

Another 26% of respondents admitted that they do not make such savings and do not plan to do so in the future. And 20% of the survey participants said that they are not saving money for their children's future yet, but they are going to start.

More than half of the respondents (64%) noted that they have not yet chosen a specific purpose for using the accumulated funds and will decide what to spend them on when the child grows up. Another 16% said that they are saving money to pay for higher education. And 14% of respondents said that they save money to buy housing for their children. In addition, 4% of Russians said that they plan to create an investment cushion, which will bring passive income to the child, and another 2% - to accumulate start-up capital so that children can start their own business.

The survey showed that the majority of respondents (70%) keep their accumulated funds in bank deposits. Another 17% of survey participants simply save cash, and 6% buy precious metals, 4% - securities and 3% - foreign currency to save money.

It follows from the survey results that when a child reaches maturity, the majority of survey participants (80%) plan to decide together with him/her how to spend money. Another 11% are going to buy or pay for what they consider necessary. And 9% of respondents will give the money to their child, indicating the purpose of its use.

Half of the surveyed Russians (51%) said that they teach their children financial literacy and the basics of investing in detail. Also, 25% said that their child is taught themselves, but under the supervision of their parents. Another 24% of respondents have not yet taught their children financial literacy, but plan to start in the future.

In September "Izvestia" got acquainted with the results of the research of analysts of fintech company YuMoney, according to which 42% of Russians start giving money to children from the age of five to seven, with 41% of parents using transfers to the card for this purpose. The experts found out that 78% of respondents allocate money to the child for pocket expenses. Only 8% do not do this, and 5% plan to start.