With the holidays right around the corner, it’s time to start making lists of gifts to get for your loved ones. In Worcester, you may want to check that list twice to make sure you can afford those presents.
According to a new report from financial data experts Wallethub — 2017 Holiday Budgets By City — the average maximum holiday budget for individuals living in Worcester is $377. Among 570 U.S. cities, Worcester ranks near the bottom at #530.
The report states that the National Retail Federation predicts the average per-person tab this holiday season will reach $967 — nearly three times more than Worcester’s holiday budget — up nearly 3.4 percent since 2016.”
Wallethub gathered their data for maximum holiday budget for each of the 570 U.S. cities using five key characteristics of the population, such as income, age and savings-to-monthly expenses ratio.
Among cities in Massachusetts, Worcester ranks better than only Lawrence (#541),Springfield (#560) and Brockton (#566).
To see how Worcester’s holiday budget compares to other U.S. cities, scroll over map below.