What is a New Yorkers average holiday budget? | Report


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Staten Island Advance

NEW YORK, N.Y. — The Rockefeller Center Christmas tree is up and being prepped for the annual lighting ceremony. holiday music is on repeat in a slew of stores and Santa Clauses are popping up all over the city, like in the Staten Island Mall. New York City is quickly transforming into its world-renowned holiday glory as the holiday season looms just around the corner.

What is a New Yorkers average holiday budget? | Report

Santa hears what’s on a young boy’s wish list this holiday season. (Jan Somma-Hammel, Staten Island Advance photos)

Between the charming decorations and wintry drinks comes the daunting task of finding — and budgeting — the holiday presents for the people in your life. WalletHub recently released a report that showed that a New Yorker’s average holiday budget comes in at around $931 per person. That number ranks at #340 out of 558 cities in the United States.

The report also shows what WalletHub calls an “average consumer profile of New York,” as well:

  • Monthly Income: $5,666

  • Monthly Expenses: $4,532

  • Savings: $15,197

  • Age: 38.1

  • Monthly Income-to-Monthly Expenses Ratio: 1.25

  • Savings-to-Monthly Expenses Ratio: 3.35

WalletHub declared the city with the most average holiday budget to be Newton, Massachusetts, coming in with $4,233 per person for the holiday season. Ranked last at #558 is Hartford, Connecticut, which WalletHub averages a person’s holiday budget to be $211.

Santa has arrived at the Staten Island Mall

Santa arrived at the Staten Island Mall 11am, Nov. 11, 2022. (Staten Island Advance/Jan Somma-Hammel)

A variety of experts gave their thoughts to WalletHub about the holiday season and the impact it has on a person’s wallet, including John T. Bowen, Ph.D., who served as the former dean and Barron Hilton Distinguished Chair at the University of Texas’ Conrad N. Hilton College of Hotel and Restaurant Management.

“The positive is that most of the restrictions due …

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