People in Grand Rapids Will Spend Over $700 on Holiday Gifts
Although the holiday season brings a lot of joy it also brings a lot of financial setbacks. According to the National Retail Federation spending is expected to be at an all time high this year. WalletHub reports
...the average per-person tab expected to reach $805.65, up from $802.45 in 2014."
WalletHub calculated the maximum holiday budgets for the (563) biggest U.S. cities. The results are based on things like average income, age, debt, and savings. This gives people an idea where they stand.
The city where people will spend the most money is Palo Alto, California, with a holiday budget of $2,886! On the opposite end of the spectrum, residents in Albany, Georgia will be spending $68.
Michigan had five cities in the top 100: (#15) Rochester Hills, (#45) Troy, (#90) Farmington Hills, & (#100) Livonia.
Grand Rapids fell in at #385 with an average spending of $716.