Wait What? Hear What The Average American Plans To Spend On Christmas Gifts

It's a holiday week! Thanksgiving on Thursday, followed by Black Friday.

Holiday spending was up 8.3% last year, even with the pandemic, and experts believe it will go up even more this year, especially with the sky high inflation.

So how much should you spend? It depends on where you live, at least according to WalletHub which actually came up with holiday budget's for 570 cities across the U.S.

"We looked at about 600 U.S. cities, and we used 5 key characteristics of the population" said WalletHub analyst Jill Gonzalez, "Income, age, savings, monthly expenses, and the ratio's between those things, to see on average what the holiday budget looks like from city to city."

Out of 570 cities, Houston was in the middle of the pack at #372, with an estimated budget of $783.

Near the top of the list, was the Woodlands at #3, with a budget of $3,073, and Sugar Land right behind at #4 with an estimated budget of $3,029.

"A lot of Texas cities are in the top 20" Gonzalez told KTRH, including Pearland at #13, Allen at #12, League City at #10, and topping the list at #1 is Flower Mound, Texas, with a budget of $3,427.

"I think this year people are excited to celebrate in person, and when they do, they want to be as Santa-like as they can" Gonzalez said, adding, "You don't have to hit your budget, you just don't want to go over it."

Family Unloading Christmas Gifts

Photo: Getty Images

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