If you’re wondering how much your neighbors are spending on holiday gifts this year, a new study might help.
This month, WalletHub predicted holiday budgets across the nation. To compile the rankings, the personal finance website used an algorithm
evaluated five key metrics: income, age, debt-to-income ratio, monthly income-to-monthly expenses ratio and savings-to-monthly expenses ratio.
- Folsom: $1123 Rank: 69
- Elk Grove: $926 Rank: 105
- Roseville: $768 Rank: 174
- Rancho Cordova: $617
- Davis: $559 Rank: 347
- Sacramento: $528
- Carmichael: $514 Rank: 406
- Citrus Heights: $503 Rank: 430
The result? A prediction of the maximum holiday budget in 570 cities nationwide. Once again, Folsom has the highest predicted budget in the Sacramento area. Check out our slideshow to see budgets for other local places.
Palo Alto tops the list with a per-shopper budget of $2,821. The full list is available online.
The National Retail Federation predicts holiday spending will be up this year. But interestingly enough, many of WalletHub’s budget predictions for the Sacramento area are lower than what the website predicted last year.
Article provided by: Sacramento Business Journal