While January is often seen as the ideal time to start fresh, a top financial institution is challenging the tradition by declaring August as the best month to set financial goals.
Citing behavioral studies and spending trends, Metrobank said most New Year’s resolutions fall short, with international data showing that 8 in 10 people fail to achieve the goals they set in January. One major reason is that January comes too late—right after the holiday season, when many Filipinos are still recovering from the year’s highest spending period, according to the Philippine Statistics Authority.
“We encourage all Filipinos to become more financially mindful and resilient by redefining our usual holiday traditions when it comes to financial planning,” said Digs Dimagiba, Metrobank’s chief marketing officer.
“Let us all start making our resolutions early in August—take the time to reflect, make just one smart goal that you can publicly commit to, and inspire others to join you so you have a support system. This time, you, as well as your family and friends, can all finally accomplish your resolutions and grow together,” the financial executive added.
Metrobank recommends that Filipinos begin financial planning ahead of the holiday surge to avoid what it calls a “financial hangover.” By doing so, people can allocate upcoming salaries and bonuses toward meaningful goals, whether it’s a condo down payment, an emergency fund, or capital for a small business.
Metrobank’s G.I.F.T. framework offers a simple guide to building financial mindfulness. It encourages individuals to get guided with goals by setting clear financial objectives as early as August, allowing more time for strategic planning before the new year. It also advises investing a portion of your bonus, recommending that part of any holiday windfall be directed toward investments that grow in value.
The framework stresses the importance of following a budget, especially during the gift-giving season, to ensure spending stays aligned with financial goals. Finally, it urges people to take advantage of deals, helping avoid overspending by maximizing value-based offers and saving opportunities.
First introduced in 2024, the G.I.F.T. campaign returns this year with the launch of the #EarlyGIFTChallenge. The initiative encourages Filipinos to share one financial resolution on social media this August and tag family and friends to create a ripple of accountability and support.
Whether it’s saving for a dream vacation, investing in a new gadget, or working toward a bigger life milestone, Metrobank hopes the challenge will foster a culture of early financial planning and collective growth.
“With the gift of an early start and the right financial guidance, Metrobank aims to empower Filipinos to take proactive steps toward their goals now,” the bank said.
More financial resources and planning tips are available at earnest.metrobank.com.ph/gift-of-financial-wellness.
