MANILA -- Most Filipinos are optimistic that their income will grow in 2025, but repaying their loans is still a challenge. 

This is according to consultancy fimr TransUnion, who surveyed Filipinos in the last quarter of the year.

The survey showed that 79 percent of Filipinos expect more income in the coming year.

However, 49 percent also expect their bills and loans to grow in 2025.

In the last 3 months of the year, 42 percent of Filipinos said they had a hard time paying bills and loans in full, TransUnion said.

Some 17 percent also relied more on loans during the holidays, the company noted.

TransUnion said 80 percent of consumers viewed inflation or the risisng costs for everyday goods as the most pressing concern on their household finances in tbhe next 6 months. This was followed by worries about job security (59 percent) and interest rates (41 percent).

TransUnion Principal of Research and Consulting for Asia Pacific Weihan Sun said this means Filipinos prioritize immediate financial flexibility over long-term security to meet their needs in a high-cost environment.

"This might elevate default risks in certain debt categories which lenders should be cautious of," he warned. He noted, however, that this also stresses the need for more credit education, especially for Filipinos who are new to getting credit. 

A recent survey by the Bangko Sentral ng Pilipinas (BSP) also showed that Filipino consumers are more optimistic about 2024, even though the number of households with savings.

Business, consumers optimistic in last stretch of 2024