Black Friday is behind us and Cyber Monday is winding down, but the holiday spending season is still going strong. The National Retail Federation predicts holiday spending this year is expected to increase by about 4 percent compared to 2018. That adds up to about $730 billion dollars.
Analysts with the personal finance website WalletHub calculated the maximum holiday budget for 570 cities around the nation. Jill Gonzalez tells us what they recommend for Athenians.
“So this year the average holiday budget is around $800,” according to Gonzalez. “Athens is definitely lower, the holiday budget there is around $426.”
Palo Alto California tops the list with the biggest budget at $3,160.
Those wanting to figure out their own personal holiday budgets can visit wallethub.com to use their budget calculator.
“Your picture might look different from the average person that lives there, so you plug in your income, you plug in your monthly expenses, how much you have in savings, then we have a holiday budget calculator that can spit out what you should be more comfortable with.”
According to WalletHub, the average household credit card debt is just over $8,600. American started this year with over $1 trillion dollars in credit card debt.
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