FWD Study finds only 32 Percent of Middle-Class Filipinos are Financially Confident

FWD Life Insurance Philippines (FWD Philippines) today released the Filipino Financial Confidence Report 2026, a nationwide study conducted by Ipsos, revealing that only 32 percent of middle-class Filipinos consider themselves financially confident. The findings highlight a gap between Filipino resilience and financial confidence. While Filipinos are known for their ability to endure and overcome challenges, many remain uncertain about their long-term financial security.

What is financial confidence?

The Filipino Financial Confidence Report defines financial confidence as trust in one’s ability to manage money, make sound financial decisions, and continue progressing toward long-term goals.

While resilience helps people endure challenges, financial confidence is knowing that when setbacks happen, you have the preparation and protection in place to recover without losing years of progress.

The study found that only 32 percent of middle-class Filipinos describe themselves as financially confident, while 68 percent report persistent financial anxiety.

Rising costs, healthcare, and retirement fuel financial stress

The report found that three pressures are fueling financial anxiety:

Rising cost of living: 74 percent say higher prices for everyday goods and services directly affect their monthly budgets.
Healthcare insecurity: 52 percent worry about the financial impact of unexpected medical expenses.
Retirement anxiety: 34 percent are concerned they may not have enough savings to support themselves later in life.

“Filipinos have long been known for their resilience and diskarte. These qualities help people endure challenges and keep moving forward,” said Soon Liang Lau, President and CEO of FWD Philippines. “Financial confidence is knowing that when setbacks happen, you have the preparation and protection in place to recover without losing the progress you’ve worked hard to build. Through the Filipino Financial Confidence Report, we hope to help more Filipinos build that confidence and achieve their goals so they can truly celebrate living.”

Financial confidence looks different across life stages

While rising living costs, healthcare concerns, and retirement pressures affect Filipino households across generations, the report deep dives into five segments:

Gen X (Born 1965-1980): They are the retirement seekers, about to retire but far from ready. Among this segment, 82 percent lack enough funds to cover major medical expenses, while 71 percent worry about outliving their savings. Here, financial confidence means knowing that a health crisis or longer-than-expected retirement will not undo decades of hard work.

Gen Y (Born 1981-1995):
The classic sandwich generation is supporting both the past and the future with 91 percent providing financial support for their parents while raising an average of two children. For this segment, financial confidence means being able to care for loved ones today without sacrificing their own future security.
The solo navigators are single by choice and are in complete control today but entirely exposed tomorrow. 70 percent want protection against health and medical emergencies, yet only 40 percent currently have coverage. Financial confidence for them means knowing they can sustain their lifestyle and long-term independence without relying on a traditional support system.
The chosen families are inseparable by bond but unrecognized by law. This segment includes LGBTQIA+ partnerships and long-term cohabiting couples. Financial confidence means having the ability to protect the people who matter most and build long-term security for the household they have chosen to create.

Gen Z (Born 1996-2010): The fragile independents are optimistic about the future, yet anxious about the present with 64 percent constrained by the rising cost of everyday living, while 62 percent experience persistent work stress, anxiety, or burnout. Financial confidence means building enough protection and financial preparedness early so that a setback does not force them to start over.

The Filipino Financial Confidence Report is part of FWD Philippines’ broader commitment to improving financial literacy and inclusion. Through insurance education initiatives, consumer insights, and products designed to help people protect, save, invest, and prepare for retirement, FWD Philippines aims to help more Filipinos build financial confidence — so they can protect the progress they’ve worked hard for, take on tomorrow, and truly celebrate living.