On the first post-pandemic World Savings Day, even more Pinoys recognizethe value of saving money More than two years after the spread of the COVID-19 pandemic, Filipinos raring for a restart actually improved their mindset towards saving money, according to a recent survey by the Bangko Sentral ng Pilipinas (BSP). This is a welcome development, considering that 34% of the population lost their source of income during pandemic years, based on a survey conducted by the United Nations Development Programme.As a result, many have relied entirely in their savings account in order to survive the last two years. According to the BSP’s Consumer Expectations Survey for the first quarter of 2022, the percentage of household with savings increased marginally at 31.1 percent from 30.2 percent in Q4 of 2021.Majority of the respondents cited the need for emergencies, health and medical expenses, retirement, education, and business capital and investment as reasons to save their money. A big...
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