The holidays are right around the corner. WalletHub did a new study based on holiday budgets by city across the country. According to the study by WalletHub “last year, holiday sales grew 14.1% from the previous year and reached a record $886.7 billion.” This year however, it is expected that holiday shopping will be a little more stressful due to inflation. Credit card debt is also higher this year than in year’s past which is also putting a strain on people’s wallets.
The study from WalletHub calculated the maximum holiday budget of 550 cities nationwide and it was based on key characteristics like income, age and savings-to-monthly expenses ratio. You can see the entire study from WalletHub HERE.
There are 6 Massachusetts cities on the list in the top 100 however ONE city in particular tops the list at #1! Here is a list of the top 10 cities in America expected to spend the most this holiday season according to WalletHub. We will start with the Massachusetts cities that made the top 100 then count from 15 to 1.