Financial Quotient of Filipinos

Based on the Financial quotient survey conducted by Citibank here in the Philippines, the average Filipino has a financial quotient of 47.8 out of a 100.  Here are some characteristics common to us all:

  • Less than 4 out of 10 Filipinos have a monthly budget.  
  • 3 out of 10 Filipinos have no insurance (life or non-life).
  • Less than 4 out of 10 Filipinos set aside or save money every payday.
  • Only 1 out of 10 Filipinos is saving up for a retirement plan.
  • 5 out of 10 Filipinos said that they would ask the assistance of their children upon retirement. 
  •  Filipinos only have about 9 weeks' worth of savings.  (If you remember, Colayco advises to save at least 6 month's worth)
Where do you stand? Do you relate with the statements above? If Yes, read more from this site and start your way to financial freedom TODAY!

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