Only 32 percent of middle-class Filipinos consider themselves financially confident as rising living costs, healthcare expenses and retirement concerns continue to weigh on household finances, according to a study released by FWD Life Insurance Philippines.
The Filipino Financial Confidence Report 2026, a nationwide survey conducted by Ipsos for FWD Philippines, found that 68 percent of respondents experience persistent financial anxiety despite Filipinos’ reputation for resilience.
The report defines financial confidence as the ability to manage money, make informed financial decisions and stay on track toward long-term financial goals.
The study identified the rising cost of living as the biggest source of financial stress, with 74 percent of respondents saying higher prices for goods and services have strained their monthly budgets.
Around 52 percent worry about the financial impact of unexpected medical expenses, while 34 percent are concerned about having enough savings for retirement.
“Filipinos have long been known for their resilience and diskarte. These qualities help people endure challenges and keep moving forward,” FWD Philippines president and chief executive officer Soon Liang Lau said.
“Financial confidence is knowing that when setbacks happen, you have the preparation and protection in place to recover without losing the progress you’ve worked hard to build,” he added.
The report also highlighted varying financial challenges across generations.
Among Generation X respondents, 82 percent said they do not have enough funds to cover major medical expenses, while 71 percent worry about outliving their retirement savings.
For millennials, the survey found that 91 percent of those supporting both children and parents face financial pressures, while 70 percent of single respondents want health protection but only 40 percent currently have insurance coverage.
For Generation Z, 64 percent cited rising living costs as their biggest challenge, while 62 percent reported experiencing work-related stress, anxiety or burnout.
FWD Philippines said the report forms part of its financial literacy and insurance education initiatives aimed at helping Filipinos improve financial preparedness. / KOC