Most middle-class Filipinos anxious about finances–FWD study

MANILA, Philippines – Middle-class Filipinos remain weighed down by financial worries as rising living costs, healthcare concerns and retirement insecurity continue to undermine their confidence in planning for the future, according to a life insurance firm.

In its Filipino Financial Confidence Report 2026, FWD Philippines found that 68 percent of middle-class Filipinos experience persistent financial anxiety, while only 32 percent consider themselves financially confident.

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“Sentiment among middle-class families indicates a consistent trend of capital constraints and long-term anxiety. This is not a temporary rough patch; households have been juggling rising costs and multi-generational family duties for decades,” the report said.

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The survey covered 1,050 middle-class Filipinos across different generations with monthly household incomes ranging from P25,000 to P149,999.

FWD identified rising living costs as the biggest source of financial anxiety, with 74 percent saying higher prices of basic goods are straining their monthly budgets.

Healthcare insecurity was another major concern, with 52 percent worrying about unexpected medical expenses, while 34 percent feared they would not have enough savings for retirement.

The report also highlighted differences in financial concerns across generations.

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Among Generation X, retirement preparedness remains a key concern, with 40 percent worried they may not be able to afford to retire.

About 91 percent of millennials or Generation Y are still supporting their parents while raising an average of two children, adding to financial pressures.

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Meanwhile, Generation Z emerged as the most optimistic group despite entering a volatile labor market, although 34 percent said job insecurity and inflation continue to hold back their financial progress.

READ: Teach Gen Z the power of money

Despite these concerns, the report found that many middle-class Filipinos remain focused on improving their financial situation over the next two to three years.

Around 56 percent said their top priority was securing their family’s long-term financial future, while 52 percent were actively building an emergency fund.

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Forty-five percent are striving for financial independence, while the same share aim to fully fund their children’s education. INQ