With the expensive holiday shopping season coming up and nearly 1 in 4 people still working to pay off holiday debt from last year, the personal-finance website WalletHub today released its 2023 Holiday Budgets by City report.
To help consumers avoid post-holiday regret, the site used several key metrics, such as income, age, and saving-to-expense ratios, to estimate the maximum spending amounts for consumers in over 550 U.S. cities.
Average Consumer Profile of Charlotte:
- Overall Rank for Charlotte: 370th
- Monthly Income: $6,200
- Monthly Expenses: $4,345
- Savings: $14,594
- Age: 34.5
- Monthly Income-to-Monthly Expenses Ratio: 1.43
- Savings-to-Monthly Expenses Ratio: 3.36
Charlotte’s Average Holiday Budget for 2023: $1,000
What’s your budget for the holidays?
