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 six of the 10 cities with the highest holiday budgets are in the Lone Star State.
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, and Frisco is third at $2,444. Other big spenders in Texas are No. 4 Sugar Land ($2,422), No. 8 Pearland ($2,162), No. 7 Allen ($2,186), and No. 10 League City ($2,112).
Austin has the loosest purse strings of Texas' big cities, with a holiday budget of $1,019. Budgets are $927 in Fort Worth, $810 in San Antonio, $795 in Houston, and $742 in Dallas.
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.