3 months ago
12
BANGKO Sentral ng Pilipinas' (BSP) data shows that saving rates are dipping while household spending rises.
INTENTIONAL SAVING Open a first Metrobank savings or checking account until April 30, 2025, to get a triple bonus that helps in setting up a savings journey. METROBANK PHOTO
The percentage of households with savings declined to 25.6 percent in the last quarter of 2024, from 29 percent recorded in the third quarter of the same year.
Meanwhile, household spending for the following quarter has been increasing, particularly for expenses on food, clothing, or even restaurants.
In a recent event, Metrobank discussed the challenges that may come with saving money and how one can have a fighting chance to turn this around — by adopting an intentional saving behavior and taking advantage of meaningful offers like its recently launched Triple Bonus promo.
One simple but effective way to start saving money intentionally is through goal-based saving, which entails having separate accounts for specific financial goals — a modern take on the classic envelope method.
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By having dedicated savings accounts for goals, one creates a clear boundary between spending on essentials and saving for dreams.
The bank also highlighted that saving should not feel like a sacrifice.
While it is important to save money to prepare for emergencies or retirement, Metrobank encourages savers to Save Without Missing Out or to #SWOMO.
This entails setting aside money to fund dreams, whether it is a solo backpacking trip to Japan, a dream destination wedding, or buying a comfortable home.
Saving for these goals is made even more rewarding with Metrobank's Triple Bonus Promo that offers meaningful perks to help one reach financial goals.
By opening a first Metrobank savings or checking account until April 30, 2025, get a triple bonus that helps in setting up a savings journey.
Visit the nearest Metrobank branch or https://metrobank.com.ph for more information.
