Honolulu Shoppersʻ Holiday Budget Exceeds $700, New Report Finds
The personal finance website WalletHub recently released their rankings of holiday shopping budgets for cities in the US. Honolulu is ranked 226 out of 570 cities in the report. According to WalletHub, Honolulu shoppers have an average holiday shopping budget of $727.
The average holiday spending is expected to reach over $1,000 this year, about a 4 percent rise from last year, according to WalletHub. In an effort to help shoppers save this holiday season, the website is providing a free tool that calculates personalized holiday budgets for all WalletHub members between now and Dec. 25.
WalletHub used several standards, such as income, age, and savings-to-monthly expenses ratio to estimate the maximum spending amounts for shoppers in the cities that were in the report
The full report can be found online.