With the uncertainties brought about by the current crisis, Filipinos are now looking at various ways to address their personal finance concerns, making it the most read topic on the internet after enhanced community quarantine and health.
A white paper released by AdSpark Inc., a portfolio company under Globe Telecom’s 917Ventures, showed that consumption of “Personal Finances” as a topic grew by 800% from January 2020 to end of March when most Filipinos were required to stay at home.
This was supported by the Global Web Index, which tells in numbers how people foresee the impact of the situation on their personal finances.
Of the Filipinos surveyed, 65% believed that the COVID-19 pandemic will have a big impact on their personal finances while 15.7% said the effect could be greater.
In February and March, the conversation around personal finances also shifted from loans to the effects of COVID-19 on oil prices and the stock market as well as the global economy. With such volatility in the economy, there is lower interest in growing future money and greater interest in maintaining present money.
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