Interesting results from the Consumer finance Survey

Here are some interesting results from the recent Consumer Finance Survey by the Bangko Sentral (Philippine Central Bank):

The Philippines has a young population. The age distribution of household members showed that 21.5 percent were 5-14 years old, these figures also indicated that a significant increase in the country’s labor force could be expected over the next decade

 Only a very small percentage of households owned securities and investment accounts such as stocks, bonds, mutual funds and unit investment trust funds (0.4 percent).

 Most households that owned their house/house and lot acquired the property through cash payment  and inheritance/gift. Only 6.7 percent borrowed money for their housing.

 About 16.2 percent of households owned at least one other real property aside from their residence.

 Eight in ten households (78.5 percent) did not have a deposit account. Among those with no deposit accounts, the main reason cited by 92.8 percent of households for the absence of a deposit account was that they did not have enough money for bank deposits.

 About 40.6 percent of households owned a farm or business. Businesses of households were mainly in wholesale and retail trade, and agriculture, hunting, forestry and fishing

 Food and beverages consumed at home accounted for 38.5 percent of the annual household expenditures.

 Majority of respondents would not risk their income to undertake risk-taking activities that could increase their current level of income.  About  7 in  10 respondents chose to stick to their current level of sure income of P1,500 per week rather than take the risk of investing  in  a new product with a 50-50 chance of either getting  P4,500 (three times their current income) or suffer a loss of P1,500 (equal to their current income).