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Covid disrupts household budget costs skyrocket

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Nearly 60% of the respondents to a survey said covid has negatively impacted their household incomes The covid-19 pandemic has impacted household incomes, forcing families to cut investments and shift funds toward household expenses and savings, market researcher Nielsen said on Friday.

Nielsen surveyed 1,190 peoplein 12 cities in April for their financial health across low, middle and high income households.

Nearly 60% of the respondents said the pandemic has negatively impacted their household incomes, affecting the way in which they are now allocating monthly incomes across categories.

Nielsen said pre-planned expenses for the September quarter are being reallocated as consumers try to save and ensure liquidity for future spends.

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