The evolving Filipino saver, according to Metrobank

A Metrobank survey found that Filipinos’ reasons for saving evolve as they move through different life stages. Younger adults tend to focus on financial security and personal needs, working adults prioritize buying a home or funding travel, and middle-aged savers concentrate on retirement and their children’s education.

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. While priorities have shifted over time, the goal remains the same: financial security and peace of mind.

The survey of more than 1200 respondents who answered the question “Para saan ang ipon mo?”, revealed that about 21% of Filipinos save primarily to build an emergency fund or set aside money for future needs. This aligns with the Bangko Sentral ng Pilipinas’ 2021 Financial Inclusion Survey, which found that roughly 4 in 5 savers allocate funds for emergencies. Other common goals include buying or improving a home, which motivates about 16% of respondents, and leisure activities such as travel, concerts, or hobbies, cited by 14%.

Savings priorities also differ by location. In Metro Manila, financial stability is the leading motivator, with 23% of respondents listing it as their main goal. Home-related expenses follow at 19%, and travel or leisure at 17%.

Outside the capital, education is the priority, with 20% saving for tuition or other school-related costs for themselves or family members. Metrobank noted that these differences show both access and opportunity: 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.

Age further influences savings behavior. Among young adults (18-24 years old), financial security is the top motivator, followed by personal purchases such as gadgets or clothes (21%), and education-related expenses (18%). For young Filipinos living outside Metro Manila, about 1 in 4 save specifically for schooling.

Working adults (25-44 years old) tend to prioritize home ownership and financial stability, each cited by 23% of respondents. Travel and leisure also remain important, motivating 18% of this group. For the middle- aged respondents (45-64 years old), priorities shift toward retirement, securing children’s future, and travel. About 23% of middle-aged respondents save for retirement, 20% for children’s education and future needs, and 14% for travel or leisure. Nationwide, these patterns remain consistent, showing that long-term planning and family considerations are top of mind for older savers.

To help Filipinos reach their financial goals, Metrobank has made opening an account simpler and more accessible than before. The Metrobank eSavings Account is a secure digital account designed for first-time deposit clients, allowing them to save, manage, and grow their money. Clients who maintain a minimum balance of PHP 2,000 enjoy benefits such as up to four InstaPay rebates per month; and invest in Online Time Deposit to enjoy an interest rate of up to 4.5% per annum.

Opening an eSavings account is easy. You only need to download the Metrobank App, tap 'Open an Account' and accept the Terms and Conditions. Then, provide your personal information, scan your valid ID, and take a selfie to verify your account. Don't forget to make an initial deposit of PHP 2,000 within seven days to avoid account closure. Once all these are done, get a fully verified account for all your financial transactions within one to two days.
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With a Metrobank eSavings account, clients can steadily work toward their savings goals while building a long-term financial partnership with the bank. The account also streamlines access to credit cards, home loans, and investment opportunities.