Essential Report
Financial situation during Covid-19 outbreak
Q. Which of the following best describes your financial situation during the Covid-19 outbreak?
Gender | Age Group | Location | |||||||
Total | Male | Female | 18-34 | 35-54 | 55+ | Capital | Non-Capital | ||
I do not expect the Covid-19 will impact my income | 24% | 22% | 26% | 16% | 18% | 37% | 22% | 28% | |
I have sufficient savings to deal with a short-term loss of income | 26% | 29% | 22% | 19% | 26% | 31% | 28% | 21% | |
I will struggle with a short-term loss of income, but will get by | 29% | 30% | 28% | 40% | 28% | 20% | 31% | 26% | |
I will be in serious financial stress with short-term loss of income | 21% | 18% | 24% | 25% | 28% | 11% | 19% | 25% | |
Base (n) | 1,034 | 519 | 515 | 342 | 327 | 365 | 703 | 331 | |
- One in five people expect to be in serious financial stress due to a loss of income (21%), a further 29% say they will struggle.
- Women (24%), those aged 18-34 (25%) or 35-54 (28%) and those living in non-capital areas (25%) are most likely to be in serious financial stress.
- Around half people say they either have sufficient savings to manage a loss of income (26%) or will not suffer a loss of income as a result of the Covid-19 outbreak (24%).
- Those aged over 55 are more likely to be in a strong financial position, with 37% not expecting their income to be impacted and 31% having sufficient savings to manage a short-term loss of income.
Household | Employment | ||||||
Total | Have dependent children | Do not have dependent children | In paid employment | Not in paid employment | Retired | ||
I do not expect the Covid-19 will impact my income | 24% | 18% | 28% | 12% | 31% | 41% | |
I have sufficient savings to deal with a short-term loss of income | 26% | 23% | 27% | 27% | 14% | 36% | |
I will struggle with a short-term loss of income, but will get by | 29% | 32% | 27% | 37% | 25% | 17% | |
I will be in serious financial stress with short-term loss of income | 21% | 26% | 18% | 23% | 30% | 7% | |
Base (n) | 1,034 | 372 | 662 | 519 | 255 | 228 | |
- A quarter of families with dependent children in the household expect to be in serious financial stress with a short-term loss of income.

COVID-19 RESEARCH
Read Essential's ongoing research on the public response to Covid-19.
Essential Report
In this week's report:
- Performance of Scott Morrison
- Performance of Anthony Albanese
- Preferred Prime Minister
- Views towards re-electing the federal Coalition government
- Party trust to handle issues
- Importance of Australia’s international reputation
- Scott Morrison’s impact on Australia’s international reputation
- Views towards Australia’s international reputation
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