The COVID-19 pandemic has twisted the world of work upside down. It is having a theatrical effect on the jobs, livelihoods and well-being of workers and their families and on enterprises across the globe, particularly the small and medium sized. The aim of the study was to measure the socioeconomic impact of COVID-19 pandemic on the general people in Rajshahi district, Bangladesh. This cross-sectional study was conducted from August 10 to October 25, 2020. Data were collected with a semi-structured questionnaire from 391 adult respondents selected by using a mixed sampling technique. Frequency analysis, chi-square test, and logistic regression model were utilized in this study. SPSS (IBM, Version 22) was used for data analysis. 95% confidence interval and p-value<0.05 were accepted for statistical significance. Only 16.6% of the respondents’ purchasing power had increased during pandemic period. Only 9.2% female subjects’ purchasing power increased during pandemic period. Near about 6.5% and 6.8% higher level of educated and rural subjects’ purchasing power increased in this reporting period respectively. Urban subjects had more likely of being increased purchasing power than the respondents of rural subjects (AOR=7.846, 95% CI: 4.170-14.763; p<0.001). The respondents with monthly family income of ≤16,000 BDT showed less chance of having increased purchasing power during COVID-19 than the subjects with monthly family income of ≥16,001 BDT (AOR=0.355, 95% CI: 0.192-0.655; p<0.001). In this study it was revealed that a very few numbers of subjects had increased purchasing power during pandemic period in Bangladesh. The government of Bangladesh, policy makers and donor agencies should consider the findings and take immediate steps for improving purchasing power.