Filipinos’ saving priorities evolve with age —Metrobank study

INSIDER SPOTLIGHT

• New Metrobank survey reveals evolving saving priorities across age and location
• Younger Filipinos focus on financial security; working adults eye homes and travel
• Middle-aged savers prioritize retirement and children’s education
• eSavings Account aims to make saving easier with insurance, rebates, and digital access
  

Filipinos’ reasons for saving money are changing as they move through different life stages — but the desire for financial security remains constant, according to a new Metrobank survey conducted in October.

The big picture

For many Filipinos, saving is tied to preparing for an uncertain future, Metrobank said in a statement citing the study.

The long-standing reminder to mag ipon (to save) still resonates, even as motivations evolve with age, income, and location. Metrobank’s survey of more than 1,200 respondents asked a simple question — “Para saan ang ipon mo?” (What are you saving for?) — and uncovered nuanced shifts in financial priorities.

By the numbers

• 21 percent save mainly for emergency funds or future needs
• 16 percent aim to buy or improve a home
• 14 percent save for leisure, such as travel, concerts, or hobbies

These findings mirror data from the Bangko Sentral ng Pilipinas’ 2021 Financial Inclusion Survey, which showed that four in five savers set aside funds for emergencies.

Zoom in: Metro Manila vs. the rest of the country

Savings priorities differ sharply by geography.

• In Metro Manila, the top motivator is financial stability (23 percent), followed by home-related expenses (19 percent) and travel or leisure (17 percent).
• Outside the capital, education leads at 20 percent — reflecting both opportunity gaps and a view of schooling as a path to upward mobility.

Metrobank notes that income levels and access to financial services in Metro Manila give residents more flexibility to allocate funds to non-essential goals.

Life stages, shifting goals

Age plays a central role in shaping saving habits:

• Young adults (18–24) prioritize financial security, followed by personal purchases like gadgets or clothes (21 percent), and education (18 percent). Outside Metro Manila, about one in four youth save specifically for schooling.
• Working adults (25–44) focus on home ownership and financial stability, each cited by 23 percent. Travel and leisure motivate 18 percent of this group.
• Middle-aged Filipinos (45–64) turn their attention to retirement (23 percent), children’s future (20 percent), and leisure (14 percent). Long-term planning becomes more urgent as responsibilities grow.

Across the board, family considerations and future preparedness remain major drivers of saving behavior.

Between the lines

The data underscores a growing awareness of financial planning among Filipinos, alongside a desire for tools that make saving more accessible and rewarding.

Metrobank’s digital push

To help Filipinos meet their financial goals, Metrobank is promoting its eSavings Account, a secure digital option for first-time depositors. Maintaining a minimum balance of P2,000 gives clients access to:

• AXA life insurance coverage of up to P1 million (including terminal illness coverage)
• Up to four InstaPay rebates monthly
• Online Time Deposit investments with interest rates of up to 4.5 percent per annum

Opening an account takes just a few steps on the Metrobank App — fill out personal details, scan a valid ID, take a selfie for verification, and make the initial P2,000 deposit within seven days. Full verification is completed within one to two days. —Ed: Corrie S. Narisma