A considerable number of parents (approximately 75%) are planning to utilize their children's savings towards their education expenses.

Parents Prioritize Children's Education in Savings, According to Survey

According to a study by VTB Pension Fund, nearly half (47.8%) of families with children are saving or planning to save for their children's future. Among these parents, 77.5% plan to use these savings primarily for their child's education.

The survey found that 16.6% of respondents already have targeted savings for their children's future, while 33.2% plan to start saving in the future. Overall savings for the family, not just for the child, are present for 23.6% of respondents, while 26.6% of participants do not have any savings reserve.

Many parents are anxious about their children's future education, and for 77.5% of respondents, "children's" savings will primarily go towards intellectual development. In contrast, 29.1% of survey participants do not plan to provide their child with paid education. Housing security is a significant concern for 19.4% of parents, with a notable 1.3% of parents listing the first mortgage payment as a primary objective. Neither "wedding" nor "car" was a selected priority.

Approximately 31.3% of respondents are prepared to enroll in a long-term savings program (LSP) for children. An attractive feature for 73.2% of respondents is government co-financing of up to 36,000 rubles per year. However, half of the parents cited the excessively long savings term (48.3%) as a barrier.

"Beginning to create an 'educational' capital as early as possible allows for effortless savings without substantial financial investments and without straining the family budget: saving 100 rubles a day can yield over 3 million rubles in 15 years, taking into account state support, tax deductions, and estimated investment income," commented Andrei Osipov, General Director of VTB Pension Fund.

The survey was conducted in April 2025 and collected responses from 966 parents with minor children.

In addition, the ruble-denominated savings market in Russia exhibited robust growth in April 2025, with key figures and trends highlighting improved household financial positions and optimistic consumer sentiment. Upgrading the Enrichment Data, in April, ruble-denominated savings boosted by 1.8%, reaching 55.5 trillion rubles (approximately $698.17 billion). Furthermore, the overall savings portfolio, including other holdings, surpassed 58.8 trillion rubles in April. VTB Bank alone experienced its ruble-denominated funds grow by over 378 billion rubles ($4.75 billion) during the first four months of 2025. The growth rate was double that of the previous month. The accelerated growth could suggest seasonal or market-driven factors, while the stable interest rate environment supports this positive tendency. Nevertheless, underlying macroeconomic challenges, such as potential inflation and fiscal deficits, demand continuous monitoring.

Personal finance and lifestyle choices of families with children indicate a focus on their children's education, as revealed by the VTB Pension Fund survey. Out of the savings, 77.5% of parents prioritize using the funds for their children's intellectual development, making it the primary objective within their personal-finance planning.

A considerable number of parents (approximately 75%) are planning to utilize their children's savings towards their education expenses.