According to an August 2021 survey on personal finance in the Philippines, 55 percent of respondents described their personal finance situation as "hopeful", meaning that their household income decreased as a result of the pandemic, but they believed their finances would recover. In contrast, 29 percent of respondents described their personal finances as being "in limbo", meaning that their household incomes decreased, and they were unsure if they were going to recover.
Personal finance situation due to the coronavirus (COVID-19) pandemic in the Philippines as of 3rd quarter 2021
survey included quotas of age, gender, household income and region to represent the overall population
Method of interview
Online survey
Supplementary notes
The survey defines the financial situations as follows:
Thriving refers to the situation where household income has not decreased, and household finances in 2021 are better than planned.
Stable refers to the situation where household income has not decreased, and household finances in 2021 are as planned.
Impaired refers to the situation where household income has not decreased, but household finances in 2021 are worse than planned.
Resilient refers to the situation where household income has decreased during the pandemic (currently or in the past), but finances have fully recovered.
Hopeful refers to the situation where household income has decreased, but think finances will recover
In limbo refers to the situation where household income has decreased, and unsure or slightly doubtful that finances will recover.
Devastated refers to the situation where household income has decreased, and don’t think finances will ever recover.
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TransUnion. (September 21, 2021). Personal finance situation due to the coronavirus (COVID-19) pandemic in the Philippines as of 3rd quarter 2021 [Graph]. In Statista. Retrieved November 10, 2024, from https://www-statista-com.ezproxy.canberra.edu.au/statistics/1271233/philippines-state-of-finances-due-to-covid/
TransUnion. "Personal finance situation due to the coronavirus (COVID-19) pandemic in the Philippines as of 3rd quarter 2021." Chart. September 21, 2021. Statista. Accessed November 10, 2024. https://www-statista-com.ezproxy.canberra.edu.au/statistics/1271233/philippines-state-of-finances-due-to-covid/
TransUnion. (2021). Personal finance situation due to the coronavirus (COVID-19) pandemic in the Philippines as of 3rd quarter 2021. Statista. Statista Inc.. Accessed: November 10, 2024. https://www-statista-com.ezproxy.canberra.edu.au/statistics/1271233/philippines-state-of-finances-due-to-covid/
TransUnion. "Personal Finance Situation Due to The Coronavirus (Covid-19) Pandemic in The Philippines as of 3rd Quarter 2021." Statista, Statista Inc., 21 Sep 2021, https://www-statista-com.ezproxy.canberra.edu.au/statistics/1271233/philippines-state-of-finances-due-to-covid/
TransUnion, Personal finance situation due to the coronavirus (COVID-19) pandemic in the Philippines as of 3rd quarter 2021 Statista, https://www-statista-com.ezproxy.canberra.edu.au/statistics/1271233/philippines-state-of-finances-due-to-covid/ (last visited November 10, 2024)
Personal finance situation due to the coronavirus (COVID-19) pandemic in the Philippines as of 3rd quarter 2021 [Graph], TransUnion, September 21, 2021. [Online]. Available: https://www-statista-com.ezproxy.canberra.edu.au/statistics/1271233/philippines-state-of-finances-due-to-covid/
