Sometime in November, the Cambridge Dictionary announced that "manifest"—meaning to dream or will something into existence, a definition popularized on social media—was its 2024 word of the year.

Aspiring to or visualizing your dream to make it a reality can be equated to New Year's resolutions, a list of things we want to achieve or maintain.

I read somewhere that New Year's resolutions are tagged as an archaic practice, existing as far back as the late 17th century. Yes Virginia, research shows that people were not only making resolutions 200 years ago...

...like me and most of my fellow Baby Boomers, they were also breaking them, as well as using them as justifications for certain unacceptable behavior and unsavory habits.

Roland Avante, president of Philippine Business Bank, admitted he "never thought of a resolution." At this stage of his life, both career-wise and personally, his manifestation is to provide guidance and lend a helping hand to those who need financial advice.

Mr. Avante's philosophy resonates with a recent study by the global management consulting firm Boston Consulting Group (BCG), which took an in-depth look at Filipino aspirations, needs, and attitudes toward financial and institutional support.

The BCG study provides an unprecedented glimpse into the aspirations and hurdles faced by Filipinos today. It was conducted to understand the dreams of different age groups and their motivations.

Financial security, particularly to handle healthcare emergencies, and a desire to start a business to ensure economic stability and independence, are two key findings of the study.

These dreams of attaining health security and entrepreneurship underscore a prevailing sentiment across Filipino society—a desire for resilience, self-sufficiency, and progress that reflects the Filipino spirit.

“When you start taking care of yourself, you start feeling better, you start looking better, and you attract better. It all starts with you. Because the most important relationship in your life is with yourself,” stated Julian Cua, BCG Managing Director and Partner.

The BCG analysis also reveals that while Filipinos share common values, distinct demographic segments have unique approaches and challenges in realizing their dreams.

I fully agree with BCG’s observation that Generation Z, the younger group, are trailblazers who dream of personal growth and financial independence.

Sham, a graduating Business Management student at De La Salle University, aspires to be financially independent and looks forward to working offshore to earn more.

On the other hand, Millennials with diverse backgrounds, who aim to bounce back financially after setbacks, especially post-pandemic, are tagged as "rebuilders." Specifically, "providers" are working-class Millennial women who focus on providing stability for their families.

While those in the older age group, the "guardians," mostly from rural areas, seek stability to retire comfortably after fulfilling family responsibilities.

“We think the findings of our study will surprise many people. But we believe it presents a clear picture of the barriers Filipinos face and their resilience in overcoming them,” explained Mr. Cua.

This corner of the Business Corridor hopes the results of the study will guide industry leaders, government bodies, and community groups in aligning their efforts to support and empower Filipinos at every stage of their journey.

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