Covid household finances Composite: Alamy/AFP/Getty/Netflix/Guardian Design Covid household finances Composite: Alamy/AFP/Getty/Netflix/Guardian Design Pandemic leaves some people jobless and deferring mortgages, while others have saved more Sat 19 Dec 2020 02.00 EST It has been possibly the strangest year ever for household finances. A stock market collapse, soaring unemployment, millions deferring their mortgage payments – and a booming housing market, plus bulging savings accounts. Which side of the coronavirus financial equation were you on? One in three households lost income (and two-thirds of the self-employed) Analysis by the Bank of England found that 28% of households have seen incomes fall during the pandemic, rising to 66% among the self-employed. Spending has fallen even further, even for those in work. The Bank estimated that 57% of households cut their spending in the early months of the crisis.