Social Aspects of the Formation of Household Assets as a Tool for the Reproduction of Trust

The article uses statistical and sociological analysis methods to study how households save and how families build up their financial assets. It explores how this behaviour can help restore trust in economic relationships. The study reveals the savings habits of the population as a key factor in transferring savings to the economy. However, in 2023, Russians didn’t fully use their savings potential securing the distribution of personal assets between banks and holding cash “on hand”. By increasing the financial assets of the population, we can help break the cycle of mistrust that is common in economic systems during the crisis. The study also highlights the importance of financial literacy for building trust. If households can successfully manage their finances, this will contribute to trust at both the macro and micro levels. The research also shows that only a small proportion of Russians today have the right investment attitudes, including long term investments. The willingness of individuals to invest their funds is primarily determined by their level of trust in financial institutions, rather than their income level. The absence of alternative financial instruments also doesn’t have a significant impact on the development of investment practices.

1. Alexandrova O.A. Providing the atmosphere of trust as a condition of economic development. Economic revival of Russia. 2019;3(61):71–81. (In Russ.).

2. Ilyicheva L. E., Kondrashov A. O., Lapin A. V. Trust as a bridge over the uncertainty gap between the government and society. Monitoring of public opinion: economic and social changes. 2021;(2):162–185. (In Russ.). DOI: 10.14515/monitoring.2021.2.1917

3. Alikperova N.V. Factors of influence on the financial behavior of the population of Russia: The 3D effect.Population. 2023;26(2):165–175. (In Russ.). DOI: 10.19181/population.2023.26.2.14

4. Kuzina O.E., Moiseeva D.V. Is there a relationship between household saving behavior, trust in financial institutions and saving attitudes in contemporary Russia? Journal of economic sociology. 2024;25(3):51–100. (In Russ.). DOI: 10.17323/1726-3247-2024-3-51-100

5. Pechalova M. Yu. Transformation of the investment and savings behavior of the population in the context of digitalization and the challenges of the pandemic. Economics, taxes and law. 2022;15(2):80–95. (In Russ.). DOI: 10.26794/1999-849X-2022-15-2-80-95

6. Trutenko E. V., Konishchev E. S. Research on public confidence in financial institutions: Current problems and peculiarities of assessment. Humanitarian and social sciences. Bulletin of the Financial University. 2024;14(1):140–145. (In Russ.). DOI: 10.26794/2226-7867-2024-14-1-140-145

7. Rogach O.V., Frolova E.V. Development of participatory budgeting mechanisms as a tool for building public confidence in the authorities. Bulletin of Perm University. Political Science. 2023;17(2):48–59. (In Russ.). DOI: 10.17072/2218-1067-2023-2-48-59

8. Belonovskaya A. M., Balandina N. G., Zbirovskaya E. P. Institutional trust as a factor of financial well-being of households: International and national aspects.Vestnik of Moscow University of the Ministry of Internal Affairs of Russia. 2015;12:244–248. (In Russ.).

9. Litvin V.V. Evolution of the financial market: Concepts and mechanisms. Finance and credit. 2023;6:102–111. (In Russ.).

10. Alifanova E. N., Evlakhova Yu. S. An impact of financial competence of population on development of financial institutions and key segments of financial market. Terra Economicus. 2012;10 (3):115–120. (In Russ.).

11.