Naperville's Holiday Spending Tops The Nation: Report

NAPERVILLE, IL — The top spot in Wallethub’s Holiday Budget by City report belongs to Naperville. The rankings, released Tuesday, should come as no surprise to Naperville residents, who live in one of the country's most affluent suburbs in high-earning county of DuPage. The online personal finance website compared 570 U.S. cities across five categories: income, age, debt-to-income ratio, monthly income vs. expenses, and monthly savings-to-expenses ratio.

The algorithm used to come up with the rankings also takes emergency savings under consideration. Naperville’s estimated average holiday budget tops the chart at $2,381. Naperville is followed by Sugar Land, Texas, Bellevue, Washington, Sunnyvale, California, and Carmel, Indiana. The next highest-ranking city from Illinois is Palatine at no. 40, with a holiday budget of $1,383.

Wallethub reports this year’s national holiday spending will exceed last year’s by 3.4 percent. It also expects this year’s additional credit card balances to add up to around $60 billion by the end of 2017. Those looking to seek some holiday fun in Naperville will not have a problem spending money, as activities like Christmas markets, holiday light tours and restaurants fill the city's calendar from now until the end of the year.

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