Prices in Arkansas are Steadily Rising
Throughout the country, Arkansas is perhaps best known for its spectacular geography. With the Ozarks, the Buffalo River, and Hot Springs National Park all calling the state home, it’s not hard to see why. Arkansas is also widely known for its relationship with Walmart. The company was founded in Rogers, AR and is currently headquartered in Bentonville. One thing that Arkansas has not been known for over the years? A high cost of living.
Arkansas has consistently ranked among the most affordable states. With an 86.9 cost-of-living index that hasn’t changed for 2022. What has changed is skyrocketing inflation – households across the country are now dealing with an unprecedented spike in housing and grocery costs and AR is no exception. Wages have risen this year, but not fast enough to keep pace with inflation. The state’s average credit card debt of $5,327 suggests that families are turning to credit to get by.
Arkansas Debt Relief
It can be tempting to compare that number to the national average debt of over $6000 and assume that the Nature State is managing debt better than most, but this can be misleading: a balance of $5,000 in a low cost of living (and low wage) state is arguably harder to pay off than a higher balance in a wealthier state. Arkansas’ per capita income is lower than the national average, while its poverty rate is higher. It’s no surprise that Arkansas debt relief is at the tip of everybody’s tongue.
Trapped making minimum payments?
You’re not alone. Fortunately, there’s a smarter way to regain control of your financial situation. Check out some of the most effective Arkansas debt relief options below.
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