Subject The paper addresses financial solutions of the population as part of financial planning of individuals. Objectives The purpose of the study is to analyze financial decisions made during personal financial planning, in particular, the impact of the economic downturn on personal finance structure, changes in consumer sentiment and trends in the differentiation of household incomes in Russia. Methods The study employs methods of scientific research like statistical and comparative analysis, synthesis, forecasting and scientific abstraction. Results We compared the structure of credit resources and savings of the population accumulated in commercial banks, described the relationship of savings and mandatory expenditures, changes in the consumer sentiment index of Russian people; ranked the population by quintile groups based on the existing trends in the differentiation of household incomes. Conclusions The findings reveal weak adaptation of the population to the volatility of the economic and geopolitical situation in the country and worldwide, which is reflected in strongly-pronounced consumer shocks. Such risks as the loss of the source of income (employment) have an adverse impact on consumer sentiment and intensify trends in social and property differentiation of the Russian population. The factors that have the most significant influence on financial decisions of Russian citizens include the behavior of disposable income, devaluation shocks, political decisions of Russian authorities.
Keywords: financial decision, income, consumer sentiment, social assistance, inflation
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