How Much Americans Overspend on the Holidays in Every State 

No one should have to rob a bank to afford Christmas. 

A group of suspects wearing Santa masks appeared to be caught on camera trying to “rob a bank” in New York City, but as it turns out, it was all a stunt as part of MoneyLion’s holiday giveaway campaign. 

MoneyLion will be giving away the “stolen cash” — $2,000 a day for the next 50 days — starting Dec. 5* (learn more about the giveaway here). 

To gain a better understanding of how this type of cash can make a difference, our research team set out to uncover just how much Americans are overspending on holiday gifts this season. According to the data, Americans are overspending in 29 states, or more than half of the nation. 

To determine each state’s holiday spending, MoneyLion used PricewaterhouseCoopers’s 2025 Holiday Outlook data, which supplied a national figure ($1,522). This was then extrapolated out by state using the Missouri Economic Research and Information Center’s Q3 2025 Cost of Living Data Series to find the projected amount spent on the 2025 holidays by state. Each state’s monthly discretionary budget follows the 50/30/20 rule and was compared to the projected amount spent on the 2025 holidays to see the states where holiday spending stretches budgets the furthest. 

Key Findings 

• Six states overspend by more than $200 during the holidays. Kentucky ($306), Louisiana ($296), West Virginia ($267), Arkansas ($253), Mississippi ($234) and Montana ($273) overspend by the most. 

• 29 states wrap up the holidays with a negative discretionary income balance. Of these states, 12 — Kentucky, Louisiana, West Virginia, Arkansas, Mississippi, Montana, New Mexico, Alabama, Michigan, North Carolina, South Carolina and Rhode Island — exceed their budgets by more than $100. 

• New Jersey ($307), Utah ($281), New Hampshire ($245), Washington ($225) and Colorado ($201) have the greatest remaining discretionary incomes post-holiday spending. Overall, there are 21 states where Americans end the holiday season with anywhere from $7 to $307 left in their budgets.  

See how much Americans spend on the holidays in every state and what’s left in their discretionary budget, ranked from the least to greatest balance. 

1. Kentucky 

Monthly income after taxes: $4,258  30% discretionary monthly budget: $1,277  Average amount projected to be spent during the holidays: $1,583  % of discretionary budget needed for just holiday spending: 124%  Discretionary budget overspend: $306 

2. Louisiana 

Monthly income after taxes: $4,161  30% discretionary monthly budget: $1,248  Average amount projected to be spent during the holidays: $1,544  % of discretionary budget needed for just holiday spending: 124%  Discretionary budget overspend: $296 

3. West Virginia 

Monthly income after taxes: $4,066  30% discretionary monthly budget: $1,220  Average amount projected to be spent during the holidays: $1,487  % of discretionary budget needed for just holiday spending: 122%  Discretionary budget overspend: $267 

4. Arkansas 

Monthly income after taxes: $4,145  % discretionary monthly budget: $1,243  Average amount projected to be spent during the holidays: $1,496  % of discretionary budget needed for just holiday spending: 120.32%  Discretionary budget overspend: $253 

5. Mississippi 

Monthly income after taxes: $3,965  30% discretionary monthly budget: $1,189  Average amount projected to be spent during the holidays: $1,423  % of discretionary budget needed for just holiday spending: 120%  Discretionary budget overspend: $234 

6. Montana 

Monthly income after taxes: $4,792  30% discretionary monthly budget: $1,437  Average amount projected to be spent during the holidays: $1,710  % of discretionary budget needed for just holiday spending: 119%  Discretionary budget overspend: $273 

7. New Mexico 

Monthly income after taxes: $4,462  30% discretionary monthly budget: $1,339  Average amount projected to be spent during the holidays: $1,512  % of discretionary budget needed for just holiday spending: 113%  Discretionary budget overspend: $173 

8. Alabama 

Monthly income after taxes: $4,355  30% discretionary monthly budget: $1,307  Average amount projected to be spent during the holidays: $1,471  % of discretionary budget needed for just holiday spending: 113%  Discretionary budget overspend: $165 

9. Michigan 

Monthly income after taxes: $4,622  30% discretionary monthly budget: $1,387  Average amount projected to be spent during the holidays: $1,527  % of discretionary budget needed for just holiday spending: 110%  Discretionary budget overspend: $141 

10. North Carolina 

Monthly income after taxes: $4,786  30% discretionary monthly budget: $1,436  Average amount projected to be spent during the holidays: $1,568  % of discretionary budget needed for just holiday spending: 109%  Discretionary budget overspend: $132 

11. South Carolina 

Monthly income after taxes: $4,696  30% discretionary monthly budget: $1,409  Average amount projected to be spent during the holidays: $1,523  % of discretionary budget needed for just holiday spending: 108%  Discretionary budget overspend: $114 

12. Rhode Island 

Monthly income after taxes: $5,363  30% discretionary monthly budget: $1,609  Average amount projected to be spent during the holidays: $1,735  % of discretionary budget needed for just holiday spending: 108%  Discretionary budget overspend: $126 

13. Maine 

Monthly income after taxes: $4,870  30% discretionary monthly budget: $1,461  Average amount projected to be spent during the holidays: $1,558  % of discretionary budget needed for just holiday spending: 107%  Discretionary budget overspend: $97 

14. Oregon 

Monthly income after taxes: $5,106  30% discretionary monthly budget: $1,532  Average amount projected to be spent during the holidays: $1,623  % of discretionary budget needed for just holiday spending: 106%  Discretionary budget overspend: $92 

15. Ohio 

Monthly income after taxes: $4,662  30% discretionary monthly budget: $1,399  Average amount projected to be spent during the holidays: $1,482  % of discretionary budget needed for just holiday spending: 106%  Discretionary budget overspend: $84 

16. Missouri 

Monthly income after taxes: $4,684  30% discretionary monthly budget: $1,405  Average amount projected to be spent during the holidays: $1,471  % of discretionary budget needed for just holiday spending: 105%  Discretionary budget overspend: $66 

17. Oklahoma 

Monthly income after taxes: $4,347  30% discretionary monthly budget: $1,304  Average amount projected to be spent during the holidays: $1,364  % of discretionary budget needed for just holiday spending: 105%  Discretionary budget overspend: $60 

18. Vermont 

Monthly income after taxes: $5,292  30% discretionary monthly budget: $1,587  Average amount projected to be spent during the holidays: $1,656  % of discretionary budget needed for just holiday spending: 104%  Discretionary budget overspend: $69 

19. Nebraska 

Monthly income after taxes: $4,891  30% discretionary monthly budget: $1,467  Average amount projected to be spent during the holidays: $1,527  % of discretionary budget needed for just holiday spending: 104%  Discretionary budget overspend: $60 

20. Indiana 

Monthly income after taxes: $4,656  30% discretionary monthly budget: $1,397  Average amount projected to be spent during the holidays: $1,453  % of discretionary budget needed for just holiday spending: 104%  Discretionary budget overspend: $56 

21. Pennsylvania 

Monthly income after taxes: $4,963  30% discretionary monthly budget: $1,489  Average amount projected to be spent during the holidays: $1,547  Discretionary budget overspend: $58 

22. Wisconsin 

Monthly income after taxes: $4,928  30% discretionary monthly budget: $1,479  Average amount projected to be spent during the holidays: $1,524  % of discretionary budget needed for just holiday spending: 103%  Discretionary budget overspend: $46 

23. New York 

Monthly income after taxes: $5,368  30% discretionary monthly budget: $1,610  Average amount projected to be spent during the holidays: $1,656  % of discretionary budget needed for just holiday spending: 103%  Discretionary budget overspend: $46 

24. Arizona 

Monthly income after taxes: $5,318  30% discretionary monthly budget: $1,595  Average amount projected to be spent during the holidays: $1,633  % of discretionary budget needed for just holiday spending: 102%  Discretionary budget overspend: $37 

25. Hawaii 

Monthly income after taxes: $6,076  30% discretionary monthly budget: $1,823  Average amount projected to be spent during the holidays: $1,864  % of discretionary budget needed for just holiday spending: 102%  Discretionary budget overspend: $41 

26. Alaska 

Monthly income after taxes: $6,288  30% discretionary monthly budget: $1,887  Average amount projected to be spent during the holidays: $1,921  % of discretionary budget needed for just holiday spending: 102%  Discretionary budget overspend: $35 

27. Idaho 

Monthly income after taxes: $5,134  30% discretionary monthly budget: $1,540  Average amount projected to be spent during the holidays: $1,561  % of discretionary budget needed for just holiday spending: 101%  Discretionary budget overspend: $21 

28. Tennessee  

Monthly income after taxes: $4,901  30% discretionary monthly budget: $1,470  Average amount projected to be spent during the holidays: $1,478  % of discretionary budget needed for just holiday spending: 100%  Discretionary budget overspend: $7 

29. Iowa 

Monthly income after taxes: $4,889  30% discretionary monthly budget: $1,467  Average amount projected to be spent during the holidays: $1,473  % of discretionary budget needed for just holiday spending: 100%  Discretionary budget overspend: $6 

30. North Dakota 

Monthly income after taxes: $5,219  30% discretionary monthly budget: $1,566  Average amount projected to be spent during the holidays: $1,558  % of discretionary budget needed for just holiday spending: 99%  Discretionary budget leftover after holiday spending: $7 

31. Wyoming 

Monthly income after taxes: $5,108  30% discretionary monthly budget: $1,532  Average amount projected to be spent during the holidays: $1,524  % of discretionary budget needed for just holiday spending: 99%  Discretionary budget leftover after holiday spending: $8 

32. Delaware 

Monthly income after taxes: $5,478  30% discretionary monthly budget: $1,643  Average amount projected to be spent during the holidays: $1,626  % of discretionary budget needed for just holiday spending: 99%  Discretionary budget leftover after holiday spending: $17 

33. Georgia 

Monthly income after taxes: $5,064  30% discretionary monthly budget: $1,519  Average amount projected to be spent during the holidays: $1,501  % of discretionary budget needed for just holiday spending: 98.79%  Discretionary budget leftover after holiday spending: $18 

34. Kansas 

Monthly income after taxes: $4,808  30% discretionary monthly budget: $1,442  Average amount projected to be spent during the holidays: $1,422  % of discretionary budget needed for just holiday spending: 99%  Discretionary budget leftover after holiday spending: $21 

35. Florida 

Monthly income after taxes: $5,237  30% discretionary monthly budget: $1,571  Average amount projected to be spent during the holidays: $1,547  % of discretionary budget needed for just holiday spending: 98%  Discretionary budget leftover after holiday spending: $24 

36. Illinois 

Monthly income after taxes: $5,226  30% discretionary monthly budget: $1,568  Average amount projected to be spent during the holidays: $1,538  % of discretionary budget needed for just holiday spending: 98%  Discretionary budget leftover after holiday spending: $30 

37. California 

Monthly income after taxes: $6,107  30% discretionary monthly budget: $1,832  Average amount projected to be spent during the holidays: $1,789  % of discretionary budget needed for just holiday spending: 98%  Discretionary budget leftover after holiday spending: $43 

38. Minnesota 

Monthly income after taxes: $5,415  30% discretionary monthly budget: $1,624  Average amount projected to be spent during the holidays: $1,554  % of discretionary budget needed for just holiday spending: 96%  Discretionary budget leftover after holiday spending: $71 

39. Connecticut 

Monthly income after taxes: $5,933  30% discretionary monthly budget: $1,780  Average amount projected to be spent during the holidays: $1,693  % of discretionary budget needed for just holiday spending: 95%  Discretionary budget leftover after holiday spending: $87 

40. Massachusetts 

Monthly income after taxes: $6,425  30% discretionary monthly budget: $1,928  Average amount projected to be spent during the holidays: $1,820  % of discretionary budget needed for just holiday spending: 94%  Discretionary budget leftover after holiday spending: $107 

41. South Dakota 

Monthly income after taxes: $5,187  30% discretionary monthly budget: $1,556  Average amount projected to be spent during the holidays: $1,445  % of discretionary budget needed for just holiday spending: 93%  Discretionary budget leftover after holiday spending: $111 

42. Maryland 

Monthly income after taxes: $6,059  30% discretionary monthly budget: $1,818  Average amount projected to be spent during the holidays: $1,681  % of discretionary budget needed for just holiday spending: 92%   Discretionary budget leftover after holiday spending: $137 

43. Texas 

Monthly income after taxes: $5,354  30% discretionary monthly budget: $1,606  Average amount projected to be spent during the holidays: $1,478  % of discretionary budget needed for just holiday spending: 92%  Discretionary budget leftover after holiday spending: $129 

44. Virginia 

Monthly income after taxes: $5,702  30% discretionary monthly budget: $1,711  Average amount projected to be spent during the holidays: $1,557  % of discretionary budget needed for just holiday spending: 91%  Discretionary budget leftover after holiday spending: $154 

45. Colorado 

Monthly income after taxes: $6,071  30% discretionary monthly budget: $1,821  Average amount projected to be spent during the holidays: $1,620  % of discretionary budget needed for just holiday spending: 89%  Discretionary budget leftover after holiday spending: $201 

46. Washington 

Monthly income after taxes: $6,507  30% discretionary monthly budget: $1,952  Average amount projected to be spent during the holidays: $1,727  % of discretionary budget needed for just holiday spending: 88%  Discretionary budget leftover after holiday spending: $225 

47. New Hampshire 

Monthly income after taxes: $6,530  30% discretionary monthly budget: $1,959  Average amount projected to be spent during the holidays: $1,713  % of discretionary budget needed for just holiday spending: 87%  Discretionary budget leftover after holiday spending: $245 

48. Nevada 

Monthly income after taxes: $5,436  30% discretionary monthly budget: $1,631  Average amount projected to be spent during the holidays: $1,394  % of discretionary budget needed for just holiday spending: 85%  Discretionary budget leftover after holiday spending: $237 

49. Utah 

Monthly income after taxes: $5,980  30% discretionary monthly budget: $1,794  Average amount projected to be spent during the holidays: $1,513  % of discretionary budget needed for just holiday spending: 84%  Discretionary budget leftover after holiday spending: $281 

50. New Jersey 

Monthly income after taxes: $6,423  30% discretionary monthly budget: $1,927  Average amount projected to be spent during the holidays: $1,620  % of discretionary budget needed for just holiday spending: 84%  Discretionary budget leftover after holiday spending: $307 

Methodology: MoneyLion used PricewaterhouseCoopers’s (PwC) 2025 Holiday Outlook data, which supplied a national holiday spending average ($1,552). MoneyLion then extrapolated out by state using the Missouri Economic Research and Information Center’s Q3 2025 Cost of Living Data Series to find (1) projected money spent on the holidays for 2025 by state. MoneyLion then found the (2) median household income of every state, as sourced from the 2024 American Community Survey, as well as 2024 household income after taxes (supplied by the Tax Foundation). MoneyLion was then able to find (3) monthly income after taxes and (4) monthly discretionary budget following the 50/30/20 rule, where no more than 30% of post-tax income should be spent on discretionary items (dining out, entertainment, shopping, etc.). MoneyLion then compared figures (1) and (4) to see where holiday spending will stretch budgets the furthest, finding (5) percent of discretionary spending spent on holiday spending and (6) money left over in discretionary budget (if any) from holiday spending. All data was collected on Nov. 12, 2025.