Memphis ranks average in holiday spending - WMC Action News 5 - Memphis, Tennessee

Memphis ranks average in holiday spending

(Source: Hurlburt Field) (Source: Hurlburt Field)
MEMPHIS, TN (WMC) -

With the average holiday spending in 2017 expected to reach more than $967, an increase of 3.4 percent since 2016 and more than 20 percent over the past two years, the personal-finance website WalletHub released its 2017 Holiday Budgets by City report.

To help consumers avoid post-holiday regret, WalletHub’s analysts used several key metrics, such as income, age and savings-to-monthly expenses ratio, to estimate the maximum spending amounts for consumers in each of 570 U.S. cities. Memphis ranked 470th in the list with an average holiday budget of $467.

The following are some highlights from the report:

  • Average Consumer Profile of Memphis:
  • Monthly Income: $3,236
  • Monthly Expenses: $2,865
  • Savings: $4,443
  • Age: 33.8
  • Debt-to-Income: 43.1%
  • Monthly Income-to-Monthly Expenses Ratio: 1.13
  • Savings-to-Monthly Expenses Ratio: 1.55

For the full report, and to see how the cities rank, click here.

Copyright 2017 WMC Action News 5. All rights reserved.

  • Trending StoriesTrending StoriesMore>>

  • Police say teen who searched for missing pal was his killer

    Police say teen who searched for missing pal was his killer

    Thursday, April 19 2018 4:56 PM EDT2018-04-19 20:56:14 GMT
    Friday, April 20 2018 3:01 AM EDT2018-04-20 07:01:15 GMT
    (AP Photo/Mike Balsamo). Los Angeles County sheriff's Lt. John Corina, left, speaks next to Deputy Joana Warren outside of the sheriff's homicide bureau office in Monterey Park, Calif., Thursday, April 19, 2018. Los Angeles County sheriff's investigato...(AP Photo/Mike Balsamo). Los Angeles County sheriff's Lt. John Corina, left, speaks next to Deputy Joana Warren outside of the sheriff's homicide bureau office in Monterey Park, Calif., Thursday, April 19, 2018. Los Angeles County sheriff's investigato...
    Los Angeles County sheriff's investigators say a 16-year-old who was part of a search party looking for a missing high school sports star led the group to discover the boy's body but investigators suspect he was...More >>
    Los Angeles County sheriff's investigators say a 16-year-old who was part of a search party looking for a missing high school sports star led the group to discover the boy's body but investigators suspect he was the person who fatally stabbed him.More >>
Powered by Frankly