21% of Filipinos prioritize saving for emergency funds, Metrobank survey shows

MORE THAN 20% of Filipinos said building their emergency funds is their top savings priority over home improvement, personal purchases, and leisure spending, according to a survey by Metropolitan Bank & Trust Co. (Metrobank).

The bank’s survey of over 1,200 respondents conducted in October showed 21% said they save to build an emergency fund or set aside money for future needs when asked what they are saving for.

“For many Filipinos, saving is a way to feel prepared for the future. Elders often remind the younger generation to ‘mag-ipon (to save),’ advice that continues to resonate,” Metrobank said in a statement on Tuesday.

Meanwhile, 16% of respondents said they are saving to buy or improve a home, while 14% said they set aside money for leisure activities, such as travel, concerts, or their hobbies.

Metrobank added that savings behavior also varies by age, though financial security and peace of mind remained top priorities.

The survey showed that most young adults aged 18 to 24 years old primarily save for financial security, while 21% of them said they save for personal purchases, and 18% do so for education‑related expenses.

“For young Filipinos living outside Metro Manila, about 1 in 4 save specifically for schooling,” it said.

Working adults aged 25 to 44 years old said home ownership and financial stability were their top priorities (23%) as well as travel and leisure (18%).

Meanwhile, middle-aged respondents, or those aged 45 to 64 years old, prioritized retirement (23%), children’s education and future needs (20%), and travel or leisure (14%).

“Nationwide, these patterns remain consistent, showing that long-term planning and family considerations are top of mind for older savers,” Metrobank said.

Location also plays a role in savings priorities, it added.

The survey showed that 23% of Metro Manila respondents picked financial stability as their main goal, followed by home-related expenses at 19%, and travel or leisure at 17%.

Outside the capital, respondents said education is their top priority, with 20% saving for tuition or other school-related costs for themselves or family members.

“Residents in Metro Manila generally earn more and have easier access to schools and financial services, while those in other regions prioritize education as a path to a better future,” the bank said.

It added that Metrobank’s eSavings digital account, which is designed for first-time deposit clients, offers Filipinos a way to save, manage and grow funds while providing access to products like credit cards, loans, and investments.

Accountholders who keep a minimum balance of P2,000 can also qualify for benefits including AXA life insurance coverage of up to P1 million and terminal illness protection, up to four InstaPay rebates monthly, and access to an online time deposit with rates of up to 4.5% per annum.

Customers can open an eSavings account via the Metrobank app. — A.R.A. Inosante