Business
Only 2 Out Of 10 Women In The Philippines Have Savings
It is without a doubt that Filipinas are careful spenders, and when it comes to budgeting, they prioritize their family. However, most women in the Philippines don’t have savings for their future needs.
InLife executive vice president and Insular Health Care president Noemi Azura cited the results of the Sheroes Landmark Study on Women and this is what she said during the study’s presentation at the Filipi-now: Realities, Challenges, and Solutions for the Filipino Women of Today held in Makati City:
“The results of the study indicated that six in 10 Filipinas manage their own money or are entrusted with their household’s budget. Most of these are spent on current needs, such as food and beverage, household bills and utilities, personal care products, and other items related to children’s schooling,”
She highlighted that only 21 percent of the total respondents are able to set aside money for savings and only three percent of their budget is allocated for their savings. What’s more alarming according to Azura is the ownership of life insurance which is only four percent despite the 30% awareness. She stressed that these are not enough to cover future emergencies, especially in the event that the family’s breadwinner, which could be the woman herself, or the husband, meets an unfortunate incident.
When it comes to health and wellness, Azura said that Filipinas practice healthy living by controlling their food intake, maintaining a healthy diet, avoiding vices, taking vices, having enough rest and sleep, keeping themselves hydrated at all times, and engaging in physical activities and sports. Despite this, only a few make use of health and wellness services, some 23 percent, and only 12 percent consult the doctor regularly. Overall, eight out of 10 Filipinas believe that they are healthy due to access to healthy living and that their families motivate them to be healthy.
