FFE Magazine

More Filipino youth motivated to save Money. Why?

 8may filipino youth saving 2

 

Recent reports show that more and more Filipinos are interested in saving their money. But a recent survey by social media analytics firm ThoughtBuzz revealed that interest among the youth goes even deeper.

 

According to the survey, 70% of discussions in social media networks are on banking topics. A smaller but significant percentage of the discussions also showed greater financial literacy among the Filipino youth: 19% were about remittances and investments in properties and gold, 8% on stocks and 3% on insurance.

 

Optimism on the growth of the Philippine peso registered by Bangko Sentral ng Pilipinas at the beginning of 2014 was cited as one of the reasons why saving money became a trend among the youth this year. Here’s a breakdown of what the Filipino youth is talking about according to ThoughtBuzz’s survey:

 

8may filipino youth saving

ThoughtBuzz Chief Operating Officer Ashok Patro further revealed that the youth use social media as a way to gain greater financial literacy. He cited ‘the importance of tapping into social media to learn more about the [financial] company’s products and services and to listen to customers’ concerns.’

 

The survey was based on posts in social media channels like Facebook, Twitter, blogs, forums and bulletin boards.

 

 

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