PJSC Sberbank : Russians on how much they spend on charity

To pay tribute to International Volunteer Day, Sberbank subsidiary Sberbank life insurance and the financial marketplace Sravni.ru surveyed different generations[1] of Russians to see how often they help others and how much they spend on charity.

Three quarters of Russians (74%) donate money to charity at least once a year; 37% do it once or twice a year, every fifth (20%) does it monthly, and 17% donate quarterly. Women donate more often and more regularly than men (80% vs. 60%). Zoomers and millennials either refrain from financial participation in charity (43% and 25%, respectively), or donate once or twice a year (36% and 34%). Almost half (46%) of Gen Xers donate annually, and one in three (30%) Boomers donate monthly.

Financial support is the charity form Russians prefer. Eighty per cent of the respondents named different sums of money that they are ready to allocate from their budget on charity annually. Every fifth (20%) donates no more than 1,000 rubles a year: 37% of respondents said that. Another 20% donate up to RUB 3,000 annually. A quarter of the respondents donate over RUB 3,000 a year. Women are more likely to invest their labor and time: 21% versus 16% for men. Boomers (57%) and Zoomers (28%) also prefer to provide non-financial assistance. Thirty per cent of millennials choose large donations (over RUB 3,000 annually).

Forty-one per cent of Russians said that they take part in volunteer projects, providing non-material assistance. Every fifth (19%) joins volunteer projects once or twice a year. Generation Xers are more active than others when it comes to volunteering: 23% do it monthly. Thirty-five per cent of boomers do good deeds once or twice a year.

Igor Kobzar, CEO, Sberbank life insurance:

"The older you get, the more you realize how important it is to give back. I am not talking about money only. It can also be other types of resources, like time. Our study shows that 41% of respondents participate in volunteer initiatives, which is a lot!

"We also find the trend for charity among young people important. Even if the percentage of participants is still small, dynamics are more important here. At Sberbank life insurance, we are ready to offer various products, first of all, endowment insurance, which will help everyone pursue their charity mission more confidently and effectively."

[1] This text uses the Pew Research Center classification:

- boomers (1946-1964)

- Gen Х (1965-1980)

- Gen Y or millennials (1981-1996)

- Gen Z or zoomers (1997 - now).