THE feeling of financial security and confidence in the short term is growing, though long-term confidence is weaker, according to the findings of a survey by Sun Life of Canada, Inc.
“These findings highlight both the resilience and the vulnerability of Filipino households. 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. Sun Life remains committed to empowering Filipinos through financial education, innovative products, and community engagement,” Sun Life Philippines Chief Executive Officer and Country Head Benedict C. Sison said in a statement.
Sun Life surveyed 1,000 respondents from the Philippines between April and May 2025.
Some 66% said they were confident in their ability to manage month-to-month finances, up from 57% a year earlier.
However, long-term financial confidence fell to 64% from 72% due to limited emergency savings.
“One in three Filipinos say that they could not last more than three months without external support following income loss or serious illness,” Sun Life said.
The survey also indicated that respondents are forced to delay major purchases to focus on day-to-day survival.
Some 61% said they are focused on managing day-to-day expenses over the next 12 months, with 45% saying they are building emergency funds. Starting a business and paying or saving for their children’s education tied at 34%.
When asked what respondents will focus on in the next three to five years, the top priority was building financial security.
About 45% said their long-term priority is saving for retirement, followed by saving for a home and building a financial legacy for their children at 39%, then building an emergency fund at 37%.
“This shift underscores the impact of inflation and cost-of-living concerns on financial planning.
Nearly all respondents reported that inflation has affected their ability to cover monthly expenses. The biggest cost increases were seen in food (73%), energy (60%), health (43%), and transportation (41%). In response, many are cutting non-essential spending and educating themselves about personal finance,” Sun Life said.
“Trust in banks (55%) remains high but has slightly declined, and cost remains a barrier to seeking professional advice. The rise of AI and digital sources reflects growing comfort with self-guided learning,” Sun Life said.
The survey also found a growing commitment to financial discipline, with 67% of respondents saying they save or invest at least 10% of their income, with 78% reviewing their investments at least monthly. — Aaron Michael C. Sy