WAUKESHA - Wisconsin residents will spend $275
less than the national average during the holidays, according to
a report released Wednesday by BMO Harris Bank.
The survey found Wisconsin residents on average
will spend $853, compared to the national average of $1,128.
The report breaks spending down into several
categories, with gift purchases making up the largest portion.
Wisconsin residents said they would spend $471, compared to $552
nationally. The state’s residents were also below average for
spending on trips - $126 versus $310 - and decorations - $67
Badger state residents did exceed the average on
entertainment spending at $188 compared to $172.
While the survey found 81 percent of Wisconsin
residents said they generally stick to their holiday budget, 73
percent said they make impulse purchases, above the national
average of 64 percent.
The survey also found 31 percent said they often
regret the amount of money they’ve spent after the holidays and
52 percent said they stress about spending the “right” amount on
gifts, regardless of how great the gift might be.