Indiana City in Top 10 Nationally for Big Holiday Budget
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Have you created a holiday budget? You might be dreaming of a White Christmas, but you’re probably not dreaming of a Christmas that puts you in debt. The holiday season brings joy but can also cause financial stress. Many Hoosiers feel pressure to spend, especially as holiday sales are predicted to grow by 2.5% to 3.5% this year, reaching $980 billion nationwide.
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Credit card debt adds to this burden. In Q3 2024, the average household credit card debt was $9,706, a 5.1% increase from last year. Overspending during the holidays could worsen financial struggles into the new year.
WalletHub analyzed holiday budgets for over 550 U.S. cities. Carmel ranked 9th nationally with a holiday budget of $3,424, reflecting its residents’ relatively high income and strong financial stability. Fishers also made the list at 24th, showcasing another a big holiday budget in Indiana.
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Average Holiday Budget by City
| Overall Rank* | City | Holiday Budget |
|---|---|---|
| 1 | Newton, MA | $4,206 |
| 2 | Sunnyvale, CA | $3,845 |
| 3 | Palo Alto, CA | $3,719 |
| 4 | Mountain View, CA | $3,715 |
| 5 | Milpitas, CA | $3,659 |
| 6 | Bellevue, WA | $3,550 |
| 7 | Flower Mound, TX | $3,541 |
| 8 | Fremont, CA | $3,483 |
| 9 | Carmel, IN | $3,424 |
| 10 | Santa Clara, CA | $3,419 |
Still, budgets in other Indiana cities vary significantly. For example, Indianapolis ranked lower at 219th, with more modest budgets reflecting different financial challenges. Bloomington ranked 556th, emphasizing the need for careful holiday planning.
Experts stress the importance of sticking to a plan. You should aim to enjoy the season without racking up unsustainable debt.
Indiana City in Top 10 Nationally for Big Holiday Budget was originally published on wibc.com
