Philippines – If there’s a cohort that bore the brunt of the drastic shifts in the pandemic, it would have to be those at the driver’s seat – the parents. Amid augmented health scares and a dampened economy, parents have to keep it tight as they continue to provide support to their families financially and emotionally.
With this, parents are now becoming more open when it comes to finding a source of income. For Filipino parents specifically, work that offers a flexible arrangement is a top option, and within this favored setup, half of Filipino parents, or 53%, now have online freelance jobs as a top choice – those acquired through freelance platforms Upwork and the like – according to a study by digital platform for parenting, Smart Parenting. This was followed by online selling (35%) and online content creation on social media sites Facebook, YouTube, and TikTok (7%).
Filipino parents are scrambling financially with half, or 52%, were found to have not stashed an emergency fund. The rest have saved up for the rainy days, with the majority (39%) having built their funds to cover less than two years’ worth of emergency expenses.
Within family income, funding for children’s education (24%) and paying off debts (24%) are top allocations followed by spending for the family’s house and condo unit (23%). Migrating abroad also takes part in Filipino Families’ plans where 7% said that income goes into making this a reality. Meanwhile, amid personal struggles, Filipino families still include in their priorities giving back to other people, where 8% stated income is spent on philanthropy.
The current life-threatening situation is taking a toll on the majority’s mental health. Because of this, families’ mental and emotional well-being has become a top concern for parents in the present. This is true for Filipino parents (66%), followed by worries about adding to their income and caring for their children’s emotional health and social skills (16%).
The Smart Parenting Pulse: 2021 Audience Survey surveyed 2,800 respondents in the Philippines.
