The money worries that Filipinos carry
Whenever I speak about money—whether in a church, a classroom or a simple conversation over coffee—I notice the same thing. People don’t start with investments or retirement dreams. They start with worries.
Money concerns are deeply personal. They are tied to food on the table, tuition fees, hospital bills and the fear of not having enough when something goes wrong. For many Filipinos today, financial stress is not theoretical—it is daily life.
And yet, most people carry these worries quietly, feeling as though they are failing when in reality they are facing pressures shared by millions.
The everyday struggles we feel first
For most Filipino families, the most immediate concern is inflation and the rising cost of living. We feel it every time we go to the grocery, pay for electricity or fill up the gas tank.
Even those whose incomes have increased often feel like they are falling behind. The problem is not irresponsibility—it’s that prices are rising faster than peace of mind.
The danger here is exhaustion. When every peso feels stretched, people stop planning and start surviving. And survival mode makes it hard to think clearly.
Closely related to this is the anxiety of paying bills and loans. Many Filipinos live with the quiet pressure of monthly obligations—credit cards, personal loans, appliances, tuition or informal “utang” (debt). Even when income is steady, the margin is thin. One delay, one emergency, one unexpected expense can throw everything off.
That’s why the lack of emergency savings remains one of our biggest vulnerabilities. A painful truth is that many Filipino households would struggle to survive more than a few months if income suddenly stopped due to illness or job loss. Some still keep savings in an “alkansya” (coin bank) at home—not because they don’t know better, but because formal banking still feels intimidating or inaccessible.
Add to this the worry about job security, especially in a world where contracts are short-term, industries change quickly and layoffs happen without warning. Financial confidence is difficult to build when income itself feels uncertain. These are not failures of character. These are pressures of reality.
The deeper, longer-term fears
Beyond daily survival, Filipinos also carry quieter, long-term concerns.
One of the biggest is health-care costs. Even families that manage their budgets well fear what one serious illness could do financially. Medical bills don’t just drain savings—they interrupt income. This is why interest in health and life insurance is growing, even though actual coverage remains low. People know the risk; they’re just unsure how to respond.
Retirement is another concern that many acknowledge but postpone. It’s often seen as a future problem, something to deal with “when there’s more money.”
Unfortunately, by the time it feels urgent, options are already limited. Retirement planning isn’t ignored because people don’t care—it’s delayed because today already feels heavy enough.
Then there is debt, especially within our utang culture. Borrowing from family and friends is common, sometimes helpful, but often complicated. Informal debt can strain relationships and delay real financial progress. At the same time, fear of rejection or high interest keeps many from using formal financial systems responsibly.
Underlying all of this is a quiet but powerful issue: financial literacy. Many Filipinos were never taught how money works—how saving, insurance, debt and investing fit together. Without that foundation, people make decisions based on fear, hearsay or habit.
And as more transactions go digital, fraud and security concerns add another layer of anxiety. Scam texts, phishing messages and data breaches have made people cautious—and rightly so—but also fearful of tools that could otherwise help them manage money better.
The way forward
When people ask me how to deal with these concerns, I rarely start with strategies. I start with perspective. Financial peace is not built by solving everything at once. It is built by taking the next faithful step.
That step might be: Tracking expenses for the first time, opening a simple savings account, paying down one small debt, starting an emergency fund—even with five thousand pesos—or finally asking questions instead of avoiding them.
Money problems don’t disappear overnight. But clarity reduces fear. And small steps restore dignity.
We also need to stop shaming ourselves for not knowing what we were never taught. Learning is not a sign of failure—it’s a sign of responsibility.
Most importantly, we must remember this: money is a tool, not a verdict on our worth.
Financial stress does not mean you are irresponsible, lazy or behind in life. It means you are human, living in a challenging economy, trying to provide and protect.
Remember: The goal is not perfection. It is progress. Not instant wealth. But growing wisdom. Not fear-driven decisions. But calm, informed ones.
The financial concerns that Filipinos carry are real. But so is the ability to face them—one choice, one habit, one season at a time. And that, more than any quick fix, is how financial healing begins.
Randell Tiongson is a Registered Financial Planner of RFP Philippines. To learn more about personal financial planning, attend the 115th RFP program this March. Email info@rfp.ph or visit rfp.ph to learn more about the program.
