Health emergencies now the top fear for Filipino households
Manila, Philippines – Filipino families are reshaping their priorities around health, savings, and daily nutrition, according to a new nationwide study released by Boston Consulting Group.
The report surveyed 1,515 families representing more than 6,000 individuals across the country.
Researchers found that 70 percent of households now rank financial preparedness for health emergencies as their top concern.
That fear is driven by the reality that most families cannot afford a sudden medical bill without borrowing money or relying on insurance.
The study said 68 percent of respondents place building a stable savings fund among their main goals.
Another 64 percent identified improving nutrition and food quality as a core household priority.
BCG said these findings show the central role families play as both economic and emotional units within Filipino society.
Researchers also identified six household structures that shape how families earn, save, and make decisions.
These structures range from single-earner and dual-earner nuclear families to solo parent households, couples without children, sandwich families balancing three generations, and large extended families living under one roof.
Each structure carries its own financial pressures, time limitations, and internal decision-making systems.
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The report noted that family decisions are rarely made by a single person.
Choices about groceries, school expenses, major purchases, and even investments often involve multiple members.
Women typically manage day-to-day spending and savings, while men tend to handle long-term financing and investments.
Despite these roles, the study described decision-making as collaborative and grounded in care.
Researchers said this shared approach remains strong even in households separated by migration.
More than half of Overseas Filipino Workers continue to participate in major family decisions from abroad.
The study said OFWs often contribute up to three-fourths of household income through remittances.
Many coordinate with loved ones through messaging platforms, video calls, and group chats.
The report argued that businesses often overlook this dynamic, treating consumers as individuals instead of interconnected family units.
BCG said this disconnect limits the relevance of financial products, health plans, and digital services designed for the Philippine market.
Researchers urged companies to rethink how they build tools for payments, savings, and insurance to reflect the reality of shared responsibility.
They said families aspire to stability more than luxury and value products that ease daily burdens.
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Panelists from McDonald’s Philippines, Kaya Founders, and She Talks Asia discussed how understanding household dynamics can reshape business strategies.
They said companies that recognize the household as the core decision-maker are more likely to succeed in the Philippine market.
BCG said the goal of the report is to help institutions build systems that match how Filipino families actually live.
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