“Indicators of financial literacy over the past year showed a positive trend. We are talking about both subjective and objective assessments. On the one hand, this gives ground to optimism - the Russians not only think that they have become better versed in financial matters, but have really improved their skills in this area.
On the other hand, there are grounds for caution - probably, against the background of increasing their own confidence in financial competencies, citizens began to rely more often on keeping their personal budget “in mind” instead of formally recording income and expenses. This type of accounting is not a reliable financial planning tool and potentially carries risks for the household. Therefore, it is important that Russians' self-confidence in financial literacy does not grow into self-deception."