Texas Cities Face Holiday Budgets Ranging From $200 to $4,000+
The holiday season is here, but financial stress looms large for many Americans. The National Retail Federation anticipates holiday sales will rise 4.2% this year – up from 3.7% last year - exceeding $1 trillion. Simultaneously, household credit card debt continues to climb, averaging $10,227 in the third quarter of 2024, a 2.3% increase from the previous year, according to WalletHub data.
To help consumers navigate these pressures, WalletHub analyzed over 550 U.S. cities to determine reasonable holiday spending limits. the study considered factors like income, age, and savings-to-expenses ratios.
“Depending on the city, an American’s holiday budget this year can range anywhere from just over $200 to more than $4,000, taking into account residents’ income, their existing debt obligations and the cost of living,” said wallethub analyst chip Lupo.”Irrespective of how well-off you are this season, it’s vital to stick to a budget that fits your financial profile so you don’t rack up unsustainable debt and end up in a bad position after the holidays. There are plenty of ways to enjoy the holidays and show you care without spending much money, like hosting potlucks or giving handmade gifts.”
Wondering what a realistic holiday budget looks like in your Texas city? Find your location in the list below.
