Millennials are more likely to keep cash at home.: how did this trend come about?
In Russia, millennials keep cash at home much more often than zoomers due to different economic experiences and attitudes to risks. All the details are in the Izvestia article.
Generational financial habits
As Ilya Rusyaev, a business consultant and founder of the Rusyaev Club business community, noted in a conversation with Izvestia, about a quarter of Russian millennials prefer to keep cash at home. At the same time, among the representatives of the zoomer generation, this figure is two times lower and is about 11%. This difference is explained by the fact that millennials have experienced several major economic shocks.
As Rusyaev noted, millennials perceive physical bills as a security guarantee in case of technical failures or blocking of banking applications. Zoomers are used to interacting with money exclusively through digital interfaces, QR codes and brokerage accounts.
"They still have fewer long—term obligations like mortgages and family support, and the ease in numbers reflects more the stage of life and the smaller amount of capital they risk," he said.
Psychological aspects of savings
Psychologist Alexandra Grazhdanov, in an interview with Izvestia, reported that the cautious attitude of millennials towards money was formed under the influence of an unstable environment. Even if they did not suffer personal losses, the experience of their families has left its mark on the current conservative model of behavior aimed at protecting and preserving resources.
"In such an environment, a basic attitude is being formed that money is primarily a resource that needs to be preserved and protected," said Citizens.
According to the expert, zoomers perceive financial management as an everyday and understandable digital skill. They are more likely to set specific goals for savings, which makes their perception of the future more manageable. At the same time, both generations demonstrate adaptive behaviors that help them cope with uncertainty.
Popular Attachment Tools
Rusyaev also points to the high popularity of ruble deposits, which in 2026 became a profitable instrument at the current rate of the Bank of Russia. As of April 2026, the regulator lowered the rate to 14.5% per annum, which retains the attractiveness of deposits as a conservative way to save money.
Over time, the financial services market will become increasingly divided according to the demands of different age groups. Protective solutions, including bonds and pension programs, will remain relevant for senior participants. Zoomers will become drivers of the development of microinvestments and services using artificial intelligence.
"Products with protective logic, savings accounts, money market funds, bond solutions and pension programs will grow for millennials and senior groups," Rusyaev said.
The expert stressed that having cash at home is not a sign of illiteracy if it is only an operational reserve of liquidity. However, storing the entire "airbag" in banknotes leads to a loss of funds due to the effects of inflation, Rusyaev concluded.
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