Time for households to save more

Christmas is just around the corner and the scene of malls packed with shoppers, and major roads looking like parking lots have become very common. And this has not changed over the past years, especially after the malling units of Henry Sy, the Ayalas and John Gokongwei dotted Metro Manila with numerous shopping havens. Every time people fill their malls, especially during the Yuletide season, these tycoons laugh their way to the banks. Their banks.

But how Filipinos are handling their money is slowly changing, as the latest Bangko Sentral ng Pilipinas’s Consumer Expectation Survey (CES) showed that the percentage of Filipinos setting aside money is increasing.