Consumer and financial practices of the Russian middle class: Inherent features or factors of differentiation?

Drawing on the analysis of the consumer and financial practices of the Russian middle class, this article examines whether these practices represent its inherent characteristics or serve as factors of internal differentiation. Using a multidimensional definition of the middle class based on respondents’ income level, education, and occupational status, and relying on data from a specialized survey of the urban middle class, the study shows that its members are distinguished by a higher prevalence of savings and a stronger orientation toward the rational use of financial instruments compared to the general population. In terms of consumption, the middle class also differs by demonstrating higher spending, prioritizing investments in human capital, and expressing greater satisfaction with their consumer capabilities. The findings indicate that the Russian middle class is internally heterogeneous. Four groups of financial service users were identified, differing not only in their engagement with financial practices but also in their consumer orientations. The results suggest that while consumer and financial practices are core traits of the Russian middle class as a whole, they simultaneously act as drivers of its internal differentiation.