More Filipino households with savings in Q4 – BSP

The latest nationwide poll by Bangko Sentral ng Pilipinas (BSP) showed a slight increase in the number of Filipino households with savings during the fourth quarter of 2018.

In the latest Consumer Expectations Survey (CES), 32.8 percent of the 5,411 respondents from the National Capital Region (NCR) said they have money set aside. This number went up from 32.5 percent in the previous quarter.

The percentage of household savers in areas outside NCR, however, remained the same.

The value of saving

More Filipinos seem to have become wiser when it comes to money. The respondents noted that their savings were intended for emergencies, education, retirement, health and hospitalization, purchase of real estate, and investment.

The number of those who are willing to save ten percent or more of their monthly income grew to 40.2 percent from 37.3 percent in Q3 of 2018.

Moreover, the percentage of those that could save ten percent or more of their monthly gross family income rose to 32.8 percent from 31.6 percent in the last quarter.

The number of respondents who have bank accounts also went up to 68 percent from 66.2 percent in the previous quarter.