Coronavirus financial impact tracker: December 2021
abrdn Financial Fairness Trust and University of Bristol
The December 2021 Financial Impact Tracker found the financial pressure on some families caused by the pandemic is likely to be exacerbated by winter’s cost of living crisis.
For every household that saw their financial situation improve since the start of the pandemic (21% of all UK households), two households saw their financial situation get a little or a lot worse (38%).
The situation being particularly poor for families who receive Universal Credit, both those in work and out of work. The findings clearly suggest the pandemic has widened the pre-existing financial gap and this trend is likely to continue.
The Financial Fairness Tracker is a regular cross-sectional review of household finances across the UK, surveyed by YouGov and analysed by the University of Bristol’s Personal Finance Research Centre, in partnership with abrdn Financial Fairness Trust. All the Financial Impact Tracker reports are available here.