Coronavirus financial impact tracker: September 2020
Emerging from lockdown
University of Bristol and Standard Life Foundation
The September 2020 Financial Impact Tracker looked at how personal and household finances were affected by the pandemic and the likely impact it would have over the next 12 months.
By the end of July, a third of households reported a fall in income as a direct consequence of the pandemic – that is a total of 9.7 million households across the UK. 10% of households were in serious financial difficulty and a further 16 per cent were struggling to make ends meet.
There was a steady rise in the proportion of households that have lost earned income as a result of the COVID-19 pandemic at any time since March 2020. This stood at 34 per cent in July compared with 27 per cent in May and 25 per cent in April.
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.