More Filipinos now say they are able to manage their finances and monthly budgets with greater confidence, even as many admit that their bigger dreams—like buying a house or saving for retirement—are slipping further away.
In its latest Financial Resilience Index released on Friday, Canadian insurer Sun Life revealed that 66 percent of Filipinos described themselves as financially secure between April and May, a sharp rise from 45 percent in the previous survey. Confidence in handling monthly finances also went up to 69 percent from 57 percent. The study surveyed 1,000 respondents.
The report pointed out that the improvements largely reflect people’s focus on day-to-day survival. Six in ten said they were prioritizing budgeting for essentials, while nearly half were building emergency savings. Inflation remains a heavy burden, with respondents citing food, energy, health care, and transportation as the most punishing expenses.
How Filipinos seek financial advice is also changing. While banks and family remain the most trusted sources, younger and urban consumers are increasingly turning to social media and AI tools. Trust in banks has slightly dipped, while the high cost of professional advice continues to deter many.
“Improvements in perceived financial security could reflect slight economic stabilization or personal adaptation to uncertainty,” the report stated.
Still, optimism weakens when the focus shifts to the future. Only 64 percent felt capable of achieving long-term financial goals, down from 72 percent. Young adults, ages 18 to 26, were found to be the least prepared to meet obligations or respond to emergencies, highlighting that financial resilience often grows with age.
The survey also underscored ongoing vulnerabilities. One in three respondents said they would not last beyond three months without outside help if they lost their income or fell ill. Despite this, two-thirds manage to save or invest at least 10 percent of their income, with nearly eight in ten monitoring their investments regularly. Older and urban residents generally show stronger financial literacy, while gaps persist in rural areas.
“These findings highlight both the resilience and the vulnerability of Filipino households,” said Benedict Sison, chief executive of Sun Life Philippines. “We are encouraged by the growing financial confidence and commitment to saving, but it’s clear that more support is needed to help families plan for the long term.”
