Christmas is one of the merriest periods of the year all over the world. The joyful spirit of this holiday makes people kinder. Everyone awaits a miracle or creates it preparing gifts for their loved ones. People do not spare money or effort in order to please their friends and relatives.
In Russia, Sberbank was curious to know the approximate amount of money spent by the Russians on gifts. For this reason, it came up with an unusual index that would help to calculate the money spent by men and women in the period between December 15 and 31, 2019. The bank called it "Father Frost and Snow Maiden index". More than 1 billion transactions will be scrutinized in order to systematize the data and define the proportion of money spent on presents by both genders. The index will give an insight into the financial stability of the Russians in the run-up to the New Year, and at the same time it will compare who spends more on gifts - men or women. The index will also reflect the welfare of citizens. Many economists reacted to this news with a touch of irony. They think that it is rather absurd to estimate the financial potential of the citizens during the holiday season. Even those who have a small income are likely to spend more than they usually earn. The Russians have never been stingy when it comes to gifts or food for the festive table. That is why this index will show quite a high level of income of Russian residents which is quite doubtful. The results of Sberbank’s research will be revealed on January 13 on the eve of the Old New Year, an informal traditional Orthodox holiday, celebrated as the start of the New Year by the Julian calendar.