Young people prefer not to make savings, but spend all the earned money for impressions. Such a behavioral model includes risks for the existing pension system. This is the conclusion reached by the Bank of Russia. The regulator estimated the expenditure that "Generation Y" makes - people born in 1980-2000. Young people do not yet need radical changes in the content of financial services, but in the long term, the habit of poisoning everything that has been earned can lead to negative consequences, the document says. "The main directions of the financial market of the Russian Federation for the period 2019-2021". If earlier the mechanism of intergenerational transfer functioned, now the young generation is actively accumulating money, however, most of its representatives are inclined to invest the received "free funds in obtaining high-quality impressions, motivated not always forward-looking". Technological progress and widespread penetration of the Internet gave impetus to a shared economy - the so-called ". Such a consumption model, based on shared access to something, in the long term may lead to a rejection of the need to have items in the property. The document notes that in modern realities "the ultimate value for the consumer in most cases is the use, rather than possession". True, "the consumption model based on joint access to service in Russia is at an early stage of formation," experts say.. For the economy this is not very good, since such a model has a negative impact "on the balance of savings and the strategies for their accumulation by the population". Ultimately, pension savings will also suffer: the behavior of young people "can undermine the sustainability of the existing model of the pension system".

Regulator seems that this approach to life is "irrational".

It can be used for unscrupulous purposes by impure dealers. Among Russians, "14.4% of carriers of adventurous financial behavior were identified," and 11.5% are trusted to scammers, warned in the Central Bank. In order to overcome negative trends, the Central Bank plans to create a "friendly environment" for interaction with the millenials, and also work separately with the "behavioral irrationality" of young clients, the report says..