NEW MEXICO (KRQE) – A new WalletHub study in time for the Christmas shopping season has calculated the maximum holiday budgets for over 550 U.S. cities – including Albuquerque, Rio Rancho, Las Cruces, and Santa Fe. The study compared 558 cities across five metrics: 1) Income, 2) Age, 3) Debt-to-Income Ratio, 4) Monthly Income-to-Monthly Expenses Ratio, and 5) Savings-to-Monthly Expenses Ratio.

Source: WalletHub

Out of the four New Mexico cities highlighted in the study, Rio Rancho had the highest budget at $1,302, followed by Santa Fe at $878, Albuquerque at $859, and Las Cruces at $644. WalletHub’s algorithm considers a consumer to be comfortable financially if they have enough emergency savings to cover at least six months of expenses and a debt-to-income ratio smaller than 22% for a renter and 43% for a homeowner.

Data used to create the ranking was collected from the U.S. Census Bureau, U.S. Bureau of Labor Statistics, SimpleTuition, Tax Foundation,, SlickDeals, and TransUnion.