With more Filipino millennials settling down and Gen Zs taking on adult responsibilities for the first time, these generations are putting more thought into their long-term plans. Whether they are buying their first home, opening their first business, or saving for their kids’ schooling, Filipinos are making the choices to turn these plans into reality. However, as everyday expenses continue to pile up, many are forced to put aside their plans just to get by.

As more millennials and Gen Zs balance their long-term plans with today’s most pressing needs, EastWest Ageas released the new PURPLE Report 2026 during a media meet last September 29. This study looks at Filipinos’ desire to plan ahead, the challenges that can get in the way, and how institutions are helping make those plans more attainable.

What Matters Most to Filipino Millennials and Gen Zs 

For many Filipino millennials and Gen Zs, building a secure future for their families is a priority. The PURPLE Report 2026 found that 9 out of 10 Filipinos want to protect their loved ones from rising prices, a lack of emergency funds, and uncertain or insufficient income.

Beyond protecting their finances, 8 out of 10 Filipinos want to prepare for their children’s education, retirement, and financial independence. Filipinos also want to prepare for potential health emergencies, with 6 out of 10 planning to save up for hospitalization and treatment costs.

However, fulfilling these priorities is easier said than done. The rising cost of living prompted 56% to cut back on their budgets to prioritize basic needs, 52% to closely monitor their expenses, and 42% to reduce nonessential spending. The figures highlight the challenge of balancing long-term plans with the realities of everyday expenses.

More Options To Fulfill Filipino Goals  

The good news is that Filipinos are now getting more ways to reach their long-term goals.

During EastWest Ageas’ media meet, Bangko Sentral ng Pilipinas Deputy Governor Bernadette Romulo-Puyat shared that the central bank has financial literacy programs geared towards helping more Filipinos develop better money management skills. It is also working to make financial services more accessible to more Filipinos.

Meanwhile, Philippine Life Insurance Association (PLIA) President and EastWest Ageas President and CEO Sjoerd Smeets said that, like the BSP, PLIA is promoting financial literacy through the digital education outreach arm Life Goals PH and Industrypedia, a guide to insurance terms. It also regularly organizes school tours to help young Filipinos build financial literacy early.

“With insurance penetration climbing to 1.96% last quarter, we’re seeing that more Filipinos, particularly millennials and Gen Zs, consider financial planning for themselves and their families. We call on the government and private insurers to continue collaborating on more financial literacy and empowerment programs. By making financial knowledge and protection more accessible, we can help raise a generation of financially aware young Filipinos,” Smeets said.

EastWest Ageas has also made it its mission to get more millennials and Gen Zs to consider insurance as part of their financial plans. Its planning options, known as the PURPLE Solutions, come with a simplified application process and straightforward benefits. These make it easier for younger policyholders to find a plan that fits their lifestyle while working towards their goals without compromising their daily needs.

The Power of Accessible Choices  

There is no denying that Filipino millennials and Gen Zs are resourceful in managing the demands of everyday life. However, constant budget adjustments are not a long-term solution for these generations as they work to build a future for themselves and their loved ones.

More institutions are working to help Filipinos manage today’s needs while still planning for what’s ahead. Through financial literacy programs and easy-to-navigate plans, institutions like EastWest Ageas are helping younger Filipinos become more financially empowered, giving them more ways to move closer to the future they want.