With last year’s holiday spending having increased 14.1% to a record $886.7 billion, the personal-finance website WalletHub today released its 2022 Holiday Budgets by City report.
To help consumers avoid post-holiday regret, WalletHub used several key metrics, such as income, age and savings-to-monthly expenses ratio, to estimate the maximum spending amounts for consumers in over 550 U.S. cities.
The following are some highlights from the report:
Average Consumer Profile of Charlotte:
- Monthly Income: $5,906
- Monthly Expenses: $4,141
- Savings: $15,137
- Age: 34.8
- Monthly Income-to-Monthly Expenses Ratio: 1.43
- Savings-to-Monthly Expenses Ratio: 3.66
Charlotte’s Average Holiday Budget for 2022: $968
You can read the full report here.