These Cities Are Blowing the Budget on Gifts This Holiday Season
Where do the most generous gift givers live? Here's a list of the ten U.S. cities splashing the most cash this holiday season.
Black Friday sales raked in $10.4 billion in 2015, with online sales topping $4.45 billion. But over a third of shoppers will exceed their holiday budget spending, according to new research from financial website WalletHub. The highest average holiday budgets were found in Palo Alto, California, which topped the budget survey, with shoppers planning on spending an average of $2,886 this season. Ranking second was Flower Mound, Texas, where residents collectively generated a gift budget of $2,624 each. Overall the average American is expected to spend around $805.56 this holiday season, up roughly $3.00 from last year's numbers. The United States is now on track to generate over $60 billion in additional debt for the year.
