How financially prepared are Filipino women?

Over half of women are saving for their parents' current or future elderly care.

Nearly two-thirds of women in the Philippines said they feel more financially secure versus their mother's generation, but traditional family roles and responsibilities continue to hinder financial stability.

Around 36% of mothers report stress from balancing the needs of children and parents, reflecting multi-generational caregiving burdens, according to Sun Life Asia’s “Women’s Wealth in Focus: Building Confidence and Security”. The report surveyed over 3,000 women across the Philippines, Hong Kong SAR, Indonesia, Malaysia, Singapore, and Vietnam to assess financial attitudes, behaviors, and challenges.  

Whilst over half of women are saving for their parents' current or future elderly care, only 16% of those with children expect full support from them in old age, suggesting a shift towards financial independence.  

Financial literacy remains a challenge, with 71% of Filipinas rating their knowledge of financial and investment products as basic or beginner level. 

Whilst most women can estimate key financial figures—such as the local currency exchange rate to the US dollar (79%), credit card debt balance (66%), and current interest rates (57%)—there are notable gaps. 

More than half of mortgage holders cannot estimate their remaining balance, and 53% of women do not know the average annual return on their investments. 

Additionally, 68% report difficulty finding financial products suited to their needs.  

Carla Gonzalez-Chong, Chief Client Experience and Marketing Officer at Sun Life Philippines, noted that whilst Filipinas are increasingly focused on savings and financial independence, a clear knowledge gap persists.