We have to admit that we do appreciate savings with our hard earned money, however it's how we save them is the problem that causes problem and evenutally leads to its depletion. With the economy growing and more opportunities, financial management starts with personal savings which many of Filipinos don't have.
It is actually alarming since cash is just usually stored in piggy banks, under the mattress, and many old fashioned and unsafe ways to keep cash away. The BSP shared that only 48 percent of adults are maintaining savings in banks while seven out of 10 Filipinos keep their savings at home.
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