With the expensive holiday shopping season coming up and holiday spending expected to reach more than $980 billion, the personal-finance website WalletHub today released its 2024 Holiday Budgets by City report.
To help consumers avoid post-holiday regret, WalletHub 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.
The most expensive cities were #1 Newton, MA at $4,206 and #2 Sunnyvale, CA at $3,845.
Average Consumer Profile of Charlotte:
- Overall Rank for Charlotte: 369th
- Monthly Income: $6,715
- Monthly Expenses: $4,585
- Savings: $15,065
- Age: 34.7
- Monthly Income-to-Monthly Expenses Ratio: 1.46
- Savings-to-Monthly Expenses Ratio: 3.29
