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Greensboro & Winston-Salem, what is your holiday budget?

NC's city that can splurge the most this holiday is....

GREENSBORO, N.C. — Here's the question: what is your holiday budget? Do you have one or do you just buy and sort out the bills later?

WalletHub did a study and calculated the cities that can afford the biggest and smallest holiday splurges without getting in a financial bind.

WalletHub compared 570 cities across five key metrics: 1) income, 2) age, 3) debt-to-income ratio, 4) monthly income-to-monthly expenses ratio and 5) savings-to-monthly expenses ratio.

So, this isn't what folks say they're spending, this is what WalletHub calculated they could spend based on those metrics. The town that can splurge the most is Flower Mound, Texas. According to calculations, they can budget $3,400 for the holidays without getting themselves in a pinch.

In North Carolina, Charlotte ranked 281 on the list of 570, Winston-Salem ranked 488, High Point 469, and Greensboro 441.

That ranking in Greensboro translates into a holiday budget of $705. The highest-ranked North Carolina city is Cary, coming in at number 15 on the list, meaning they should be able to spend $2,541 without buyer’s remorse.

The WalletHub experts say one of the easiest ways to avoid overspending is to put all your holiday money on a prepaid visa card. That way all the money is in one place and you try to overspend, you will have to acknowledge you're overspending.

WalletHub looked at the data from 2020 and says holiday sales grew 8.3% last year despite the pandemic, and experts believe there will be more growth this year now that conditions have been improving.