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Working paper

Money management in russian families

This paper reports the findings of an all-Russian cross-sectional representative survey (N=1600) that was carried out by HSE in 2011. It investigates money management in Russian families. Pooling is the most common money management style, however, the choice of budget management system does not fully account for financial control and power in the household. The regression results show that main determinants for choosing a budget management system are per capita household income, respondents’ gender, wives’ education, marital age, and the budget management system in the parental family. Moreover, the interaction between the parental budget management system and current practice of budgeting in the respondent's family varies between men and women. Among those respondents who repeat the budget management system in their parents family men are more likely to choose the male dominated system, while women are more likely to choose the female dominated system, or pooling system.