Financial situation during Covid-19 outbreak

Mar 24, 2020

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.

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