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Filipinos’ financial literacy needs more push, Home Credit survey reveals

January 30, 2022 11:09 a.m.

The pandemic pushed many Filipinos to be mindful of their personal finances. However, there’s still immense concern on the state of financial literacy in the country. 

Both the 2015 World Bank (WB) survey and Central Bank’s 2019 financial inclusion survey revealed that only half of Filipino adults correctly answered financial literacy questions. 

This was supported by a survey from Home Credit where only 10% of the respondents correctly answered questions that test their knowledge on various financial concepts. 

The said survey was drawn from the consumer finance company’s self-crafted financial literacy quiz found in the My Home Credit App. 

A two-part quiz, it offers users a chance to answer a series of questions involving personal finance and other financial literacy items. 

To get an in-depth analysis of the quiz results, here’s a breakdown of the findings for each question: 
Findings of Quiz 1: Basics of Budgeting, Digital Literacy, and Cybersecurity 

More than 25,000 respondents took the first quiz that covers topics on basics of budgeting, digital literacy, and cybersecurity.

Within May to December 2021, the respondents mostly belong to the age group of 25-39 years old and 63% or majority are female. 

From the results, only 10% got all correct answers from the six questions.

When asked about managing finances, almost half (as many as 10,000) did not apply the ideal saving formula in their monthly budget; they prioritize expenses first and save what is left. 

On interest computation, 57% got the correct answer and the remaining half either got the wrong computation or does not know how to answer.

On a related question about inflation, respondents were asked about the impact of inflation and only 41.8% had the right understanding of its effects on their purchasing power and borrowing decisions. 

Filipinos seemed to be more knowledgeable on investments and risk diversification. 

When asked whether they will spread their money to multiple investments or focus on just one, almost 73% chose to put it into multiple investments to limit their losses, 22.5% for one investment and 4.6% do not know the answer.

Aside from inflation and basic numeracy concepts, cybersecurity and safety are also one of the concepts that are not well-understood by the takers with only 43.4% getting the correct answer – a number slightly lower than 47.8% before the covered period. 

On the flip side, most respondents aced the question on what tasks can be done using digital financial tools at 97%.

The social distancing measures brought by the pandemic might be a huge factor on how well-versed Filipinos have become in using fintech tools for daily transactions. 

In summary, results show that the respondents’ knowledge on all financial literacy concepts mentioned above are in the intermediate level with scores falling under 3 to 4 out of 6.

Basic numeracy, inflation, and cybersecurity and safety are the least understood concepts as indicated in the survey. 

Findings of Quiz 2: The Basics of Budgeting, Saving and Borrowing

The second leg of the financial literacy quiz zoomed in on the basics: budgeting, saving and borrowing.

Launched in September, it covers the period of launch until September, there are over 19,000 responses, with more females attempting to take the quiz and from the age group of 25-39 years old. 

The first three questions concentrated on how to properly plan a monthly budget and how to compute for an emergency fund.

Most quiz takers (66.8%) know that every month, they should at least make a budget plan and 88.4% know that the ideal amount of emergency fund should cover 3 to 6 months’ worth of expenses.

However, only ¼ of users know how to set a SMART Financial goal. 

Regarding the basics of borrowing, almost all (95%) of quiz takers know that paying bills on time every month can help improve their credit score.

A total of 77.1% also answered that a consumer finance company is an institution that could help them avail cash or product loans.

On the similar topic of loan application, 83% knows the concept of loan repayment but only half of respondents know what a cooling off period in a loan is about; 65% knows that there are different ways that could help them approve their loans (such as preparing requirements ahead of time, borrowing an amount that you can pay, etc). 

Looking at the findings of the second quiz, majority of Filipinos have a proper understanding of the basics of some financial concepts but would need guidance on comprehending more specific terms.

Regardless, the results of the second quiz show that the level of financial literacy in the country is promising and would continue to improve if taught properly. 

This is where companies advocating for financial literacy come in. One of which is Home Credit Philippines, a longtime financial provider and financial educator both in global and domestic markets.

Through Wais sa Home, their financial and digital literacy program, they address the concerns revealed in the survey through various initiatives and activities aimed at driving financial inclusion and raising financial literacy standards amongst Filipinos. 

“Our business model and the focal point of our corporate social responsibility efforts is centered on responsible lending. We want to help create responsible borrowers and good payers through financial education and digital financial literacy,” says Home Credit Philippines Chief Marketing Officer Sheila Paul. 

To reach a wider audience and have a steady source of important financial and digital literacy concepts, Home Credit is launching its Wais sa Home website soon to allow more people to gain knowledge on basic money management and digital skills. 


Ateneo, UP face off again for UAAP title

December 7, 2022 9:54 p.m.

For the second straight season, it will be Ateneo de Manila University versus University of the Philippines in the UAAP men’s basketball finals.

Moments after the Fighting Maroons escaped National University, the Blue Eagles thrashed Adamson University, 81-60, to advance to its sixth consecutive Finals appearance on Wednesday at the Smart Araneta Coliseum.

Game One of the best-of-three championship series will be on Sunday at the SM Mall of Asia Arena.

“We had our best offensive performance of the year. I think when you get some time to prepare and your opponent doesn’t have much time and they were playing on heart, they were playing on Nash’s brain, and all of those things they have a ton of,” said Ateneo coach Tab Baldwin.

“But the cauldron of the semifinals you need more than that you need time to prepare, you need rest, and you need a full team hitting on all cylinders and tonight we were that team,” continued Baldwin.

Already ahead by eight early in the third period, Dave Ildefonso scored eight straight points before Ange Kouame and Chris Koon connived to end the quarter with 19 unanswered points and give Ateneo a 27-point advantage heading into the fourth, 63-36.

Sean Quitevis then opened the payoff frame with another trey to put the Blue Eagles up by 30 with 9:14 left, 66-36, before Jed Colonia made the Soaring Falcons’ first basket in nine minutes with 8:30 to go. Jerom Lastimosa last scored on a layup at the 7:27 mark of the third.

Forthsky Padrigao had 16 points and five assists, while Koon was 4-of-5 from deep to end with 15 points to go with five assists and a plus-21 in his 19 minutes on the floor.

Kai Ballungay chimed in 13 points, while Ildefonso had 11 points and nine rebounds.

Lastimosa was the lone Falcon in double figures with 10 points on a woeful 4-of-15 shooting from the field.

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Adamson eliminates La Salle, claims last seat in Final 4

December 4, 2020 10:11 p.m.

Adamson University knocked out De La Salle University, 80-76, to grab the last Final Four spot in the UAAP Season 85 men’s basketball tournament, Sunday at the SM Mall of Asia Arena.

The Soaring Falcons will face top seed Ateneo de Manila University, which holds a twice-to-beat edge, in the Final Four on Wednesday, 6 p.m., at the Smart Araneta Coliseum.

“We’re happy to be in the Final Four. We’re actually gatecrashing the Final Four. People didn’t expect us to be in the Final Four, they expected I don’t know what you call them… big spenders. To me, they’re all big spenders but I’m happy the team did their part,” said Adamson coach Nash Racela.

“We will check our emotions because we don’t want to be in a high because may trabaho pa and we’re still gonna play Wednesday and the weekend,” he added.

With the Falcons down by a single point, Lenda Douanga took matters into his own hands, draining a push shot before dishing to Cedrick Manzano the next play for the reverse layup and a three-point Adamson lead with 58.8 seconds left, 77-74.


After multiple empty possessions on both ends, Evan Nelle came up clutch, stealing Joem Sabandal’s inbound and burying a lay-in to pull La Salle within one with 15.4 ticks to go, 76-77.

The Green Archers were forced to put Jerom Lastimosa on the line in the ensuing play, which the Soaring Falcon made both to push them up by three anew, 79-76, before Nelle missed his three-pointer attempt badly, only hitting the side of the board as Joshua Yerro iced the game from the charity stripe.

La Salle led by as much as 13 in the third frame, 51-38, but Lastimosa went ballistic, going for 11 from his 22 points there to help Adamson inch within one at the end of the quarter, 59-60.

Adamson’s Jerom Lastimosa

Lastimosa also added six assists and a steal, while Yerro had 13 points and six rebounds.

AP Manlapaz chimed in 22 points, while Douanga got 10 points and seven rebounds.

In the sudden death playoff for fourth seed, the Green Archers did not have three of their best players in Schonny Winston, Mike Phillips, and Kevin Quiambao.

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URCC 81: Decades of Success happens Dec. 6 in Okada

November 27, 2022 7:22 p.m.

THE Universal Reality Combat Championship will celebrate two decades of greatness titled the “Decades of Success” in a fight night on December 6, featuring the country’s best mixed martial artists at the Okada Manila in Parañaque City. 

Three years since the last time they held their last main event, URCC founding president Alvin Aguilar announced the coming URCC 81 will definitely be a night to remember with events like the 3 Versus 3, MMA fight and the bare-knuckle bouts.

“Our first main event in three years will definitely be an unforgettable night in mixed martial arts. We have a lot of good fighters and everyone is very excited,” Aguilar said. 

The last time URCC held a main event — Retribution— was in November 2019, at the same venue. Despite the pandemic, URCC didn’t stop as it held three fight nights when the government finally allowed contact sports. 

In celebrating URCC’s main event return, Aguilar will be having Team Philippines of Sugar Ray “Mammoth” Estroso, Caloy “Bad Boy” Baduria and Boss Bullet Manliclic taking up against South Koreans Jeong Minhun, Choi Wontae and Jeon Youngjun in an exciting 3 versus 3 event.

“We have to go up against other Asian countries before we start expanding. So we meet Korea then later on China again and then we will invite people from Russia and the USA. This is the fourth time we will be holding this 3 versus 3 fight,” Aguilar said, who also expects the other events to live up to the hype.

A URCC welterweight interim championship is also set between Filipino Arvin Chan and American Will Chope as the other highlight of the main event presented by Okada Manila and sponsored by Winzir.

URCC Global Chairman Arnold Vegafria said the promotions have been evolving since 2002, becoming a household name in the local mixed martial arts industry, where it discovered great MMA fighters and promoted quality fights abroad. 

For inquiries about tickets sale, go to and download app which is available for iOS and Google.

Other MMA undercard bouts feature Dunlee Stewart facing John Tirona in a 170 lbs bout, followed by Gester Maglaque meeting Mariano Jones in an 185 lbs bout; Kimbert Alintozon battling Junie Kimayong (125 lbs); Rhyle Lugo clashing against Alex Aballe (145 lbs) and Eros Baluyot taking on MJ Abrillo (125 lbs). 

For the thrilling bare-knuckle competitions, Damsa Abrenica collides with Joseph “King Pinoy” Cabral, while Dondon Serrano squares off with Sherwin Niro and Denzel Dimaguila fights Mark Jalaron.  

Details of the fight and future fight cards are available to download at, which is available for iOS and Google.

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