21.03.2017
Attitudes of Ukrainians toward money
- According to a survey conducted by the Rating Group in February 2017, respondents most strongly agree with the statement that “Money is freedom and a sense of security” (index 1.9). They agree somewhat less with “Money is status and power” (index 1.7) and “Money should be saved and controlled” (index 1.4), and much less with “Money is image and respect” (index 0.5). Respondents disagree with the statement “Money is evil” (index –0.8).
- An absolute majority agree that money is important (90%), that having savings makes people feel safer (87%), that money is good (85%), and that money gives freedom and independence (79%). 82% agree that money is a symbol of status in modern society, 80% say money is power, and just over 70% believe that with money one can achieve anything.
- A large majority (74%) say they spend money carefully and plan expenses thoroughly. 64% believe that time is money (almost one quarter are undecided on this). Two thirds of respondents value money very highly, and slightly fewer (61%) believe money allows them to be who they want to be.
- Almost half believe that money makes people around them respect them, while one third disagree. 46% say that money is the most important thing in their lives, and almost as many (41%) disagree. 40% think money helps to make many friends, while slightly more (43%) do not believe this.
- One third (32%) believe that money is the root of all evil, while almost half (48%) disagree. Only 27% say that money is evil, while 52% disagree. 16% believe money is indecent, while 68% do not.
- The strongest support was for the statements that savings provide security and that money is important, while the weakest support was for the idea that money is indecent.
- The idea that money is status and power is most strongly supported in the East and least in the West. Residents of the East and Center are more likely to agree that money should be saved and controlled. In the West, support is lowest for the views that money is freedom and security and money is image and respect, but this region also has the fewest people who disagree that money is evil.
- Younger respondents are three times more likely than older ones to believe that money is image and respect, while older people are twice as likely to agree that money is evil. The belief that money should be saved and controlled is more typical of older people.
- Women are more inclined than men to think that money should be saved and controlled, and less likely to think that money gives image and respect. Both men and women equally believe that money is freedom and security.
- The wealthier people are, the less they believe that money should be saved and controlled, and the more they agree that money gives status, power, image, and freedom. The poorest respondents are twice as likely to agree that money is evil and least likely to agree that money brings image and respect.
- More than half (54%) believe that being poor is not shameful, while 31% think it is. A large majority (72%) believe that being rich is not shameful.
- In the East, people most strongly support the ideas that being poor is shameful and being rich is not. The older respondents are, the more likely they are to see poverty as shameful and the less likely they are to think wealth is shameful. Men are slightly more likely than women to feel shame about both poverty and wealth.
- 40% would like to be seen as rich, 41% would not, and 19% are undecided. The fewest people who want to appear rich are in the East, but this region also has the highest share of undecided respondents. Urban residents and men are somewhat more likely to want to be seen as rich than rural residents and women. The younger and wealthier people are, the more they want to appear rich.
- 52% agree that rich people can be successful and effective politicians, one third disagree, and 16% are undecided. This view is most common in the East and West and least common in the South. Younger, more educated, and wealthier respondents are more likely to agree.
- People feel most comfortable communicating with others of similar income (92%), somewhat less comfortable with poorer people (84%), and least comfortable with richer people (65%). Residents of the East are relatively less comfortable communicating with both poorer and richer people. In the Center, people are most relaxed about interacting with wealthier individuals.
- Only 14% say their income is sufficient, 27% say it is rather insufficient, and 56% say it is definitely insufficient. An overwhelming 89% would like to earn more. People in the West are somewhat more likely than others to say their income is sufficient. Older, wealthier, and male respondents are more likely to feel their income is enough.
- Most respondents (62%) believe the optimal workday is 8 hours, 27% prefer a shorter day (6–7 hours), and only 2% would work 10 hours or more. Support for a shorter workday is higher in the West and Center, among rural residents, women, younger people, and the more educated. Interestingly, poorer people support a shorter workday more than the wealthier.
- More than half (56%) are willing to work longer hours to earn extra money, while 32% are not. This willingness is highest in the West and lowest in the East, and is more common among younger, wealthier, and male respondents.
Methodology
- Audience: residents of Ukraine aged 18 and older. The sample is representative in terms of age, gender, region, and settlement type.
- Total sample: 2000 respondents.
- Personal formalized interview (face-to-face).
- The margin of error does not exceed 2,2%.
- Fieldwork dates: 9-19 February 2017
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