Filipinos’ reasons for saving evolve across different life stages, with overall goals remaining focused on achieving financial security and peace of mind, according to a Metrobank survey.
Saving to build an emergency fund or set aside money for future needs is the primary savings goal for about 21 percent of Filipinos, a finding that aligns with previous studies showing roughly 4 in 5 savers allocate funds for emergencies.
The Metrobank survey of more than 1,200 respondents revealed that other common goals include buying or improving a home, which motivates about 16 percent of respondents and leisure activities such as travel concerts or hobbies cited by 14 percent.
The priorities shift as Filipinos move through life. Younger adults tend to focus on financial security and personal needs, while working adults prioritize buying a home or funding travel. Middle-aged savers concentrate their efforts on retirement and their children’s education. The enduring advice from elders to “mag-ipon (to save)” continues to resonate, even as the specific priorities change over time.
Savings goals also differ based on location. In Metro Manila, financial stability is the leading motivator with 23 percent of respondents listing it as their main goal. Home-related expenses follow at 19 percent and travel or leisure at 17 percent. Outside the capital region, education takes precedence with 20 percent of respondents saving for tuition or other school-related costs for themselves or family members.
