For many, the holiday season means shopping, and Texans sure know how to spend a pretty penny on our nearest and dearest.
Personal finance website WalletHub recently revealed the maximum holiday budgets for 563 U.S. cities, and Texas snags 51 spots on the lengthy list. Even more jaw-dropping is that three of the 10 cities with the highest holiday budgets are in Dallas-Fort Worth.
Five key metrics — income, age, debt-to-income ratio, monthly income-to-monthly expenses ratio, and savings-to-monthly expenses ratio — were used to determine the holiday budgets for each city.
Flower Mound comes in second in the nation with a per-person holiday budget of $2,624. Frisco is third at $2,444, and Allen snags the seventh spot at $2,186. Other big spenders in Texas are No. 4 Sugar Land ($2,422), No. 8 Pearland ($2,162), and No. 10 League City ($2,112).
Dallas ranks No. 356, with a holiday budget of only $742 — less than three times what Frisco residents will shell out. Fort Worth is a little looser with the purse strings at $927. Holiday budgets are $1,019 in Austin, $810 in San Antonio, and $795 in Houston.
If you have friends or family in Palo Alto, California, don't be surprised if you nab fancy gifts: The city claims the No. 1 spot with a budget of $2,886. Those in Albany, Georgia, are much more frugal, coming in last with a $68 budget. But, after all, it's the thought that counts.