Most Filipinos say they want to build a more secure financial future for their families, but rising household costs are making it harder to set aside resources for long-term goals, according to the PURPLE Report 2026 released by EastWest Ageas.
The report found that 9 in 10 Filipinos prioritize creating financial buffers for their families, particularly to manage rising prices, insufficient emergency funds and financial instability. At the same time, 8 in 10 respondents said they value preparing resources for their families’ future, including children's education, retirement and financial independence.
The findings were discussed during an EastWest Ageas media meet on September 29, where company executives, EastWest Bank representatives and Bangko Sentral ng Pilipinas (BSP) Deputy Governor Bernadette Romulo-Puyat discussed ways to broaden Filipinos' financial planning options.
Immediate expenses continue to compete with long-term planning
The PURPLE Report 2026 points to a financial planning challenge: Filipinos recognize the need to prepare for the future, but immediate household requirements can take priority when budgets become tighter.
According to the report, 43% of respondents said their financial situation worsened during the second quarter of 2026. Meanwhile, 56% reported cutting their budgets to prioritize basic needs, while 52% said they were monitoring expenses more closely.
Another 42% said they were reducing nonessential spending.
Health-related expenses are another concern. Six in 10 Filipinos surveyed said they were looking for funds to cover potential hospitalization costs, reflecting concerns about gaps in health insurance coverage.
Taken together, the findings suggest that financial planning is not simply about increasing savings. For households managing limited resources, it also involves balancing emergency preparedness, protection and long-term objectives against everyday expenses.
Why financial options matter
The report's findings come as financial institutions and regulators continue to emphasize financial inclusion and financial literacy.
During the media meet, BSP Deputy Governor Bernadette Romulo-Puyat discussed efforts to build a more inclusive and resilient financial ecosystem. These include financial literacy initiatives intended to strengthen people's money management skills and efforts to improve access to financial services.
Financial literacy can help consumers better understand the differences among savings, insurance, investments and other financial products, allowing them to assess which tools may fit particular financial goals.
For the insurance sector, the challenge is also one of accessibility and understanding.
Philippine Life Insurance Association (PLIA) President and EastWest Ageas President and CEO Sjoerd Smeets said the industry is working to make financial protection more accessible while expanding financial education initiatives.
The PLIA's education programs include Life Goals PH, a digital financial education platform, and Industrypedia, which provides explanations of insurance terminology. The association also conducts school tours focused on financial literacy.
Insurance remains part of the broader financial planning conversation
Smeets cited an increase in insurance penetration from 1.79% to 1.96%, describing the movement as a positive indication of progress in the industry's financial empowerment efforts.
Insurance penetration generally refers to insurance premiums relative to the size of an economy, providing an indication of the scale of insurance activity within a market. The figure cited by Smeets should therefore be understood in the context of the insurance industry's measure rather than as a measure of individual household financial security.
He also called for continued collaboration between the public and private sectors to expand financial literacy and help consumers understand insurance as one possible component of long-term financial planning.
For EastWest Ageas, the company says its PURPLE Solutions are designed to make insurance easier to navigate, particularly for first-time policyholders. The company describes the offerings as having a simplified application process and straightforward benefits.
Consumers, however, still need to assess insurance products based on their own financial capacity, coverage requirements, policy terms and long-term objectives.
From financial resilience to financial preparedness
The PURPLE Report 2026 highlights a distinction that is increasingly important for households facing higher living costs: managing today's expenses and preparing for tomorrow are related, but they are not the same financial task.
Cutting discretionary spending or closely monitoring expenses can help households respond to immediate pressure. Building emergency funds, protecting against major financial risks and preparing for education or retirement require a longer-term approach.
This creates a role for both financial institutions and regulators in making financial products easier to understand and more accessible.
For consumers, the broader lesson from the report is that financial planning involves choices across different time horizons. Immediate needs, emergency protection and long-term goals all compete for the same household resources.
As financial institutions expand their products and financial-literacy programs, the ability of consumers to understand those choices may be just as important as the number of options available to them.



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