Costs in Missouri are Skyrocketing
As the Gateway to the West, Missouri was the historical starting point for many of the nation’s most important pioneer trails, including the Oregon Trail and the Pony Express. Since then, Missouri has blessed us with the invention of several iconic musical genres, some of the most mouth-watering regional barbeque styles on the planet, and the Anheuser-Busch brewing company. The state was also home to noted author Mark Twain, pioneering guitarist Chuck Berry, and President Truman.
For decades, Missourians have been able to enjoy this vibrant culture at a relatively affordable price – the state ranks 5th lowest in the cost-of-living index and has the 2nd lowest housing costs. Unfortunately, with a median household income of just $57,409, Missouri is well below the national average. Record-setting inflation and skyrocketing prices have made it difficult for ordinary families to keep up.
Missouri Debt
These days, Missouri living has become synonymous with Missouri debt. The state currently has an average household credit card debt of $5,601, which is roughly middle of the pack in national rankings. Don’t let that fool you – due to the aforementioned low cost of living, $5000 goes a lot further in St Louis or Kansas City than it would in Los Angeles or Seattle. Being $5000 in debt in Missouri is a big deal, and it can be easy to get trapped in a vicious minimum payment cycle.
Stay a Step Ahead of Missouri Debt
Making minimum monthly payments can keep you in debt forever, but there are other Missouri debt relief options – check out a few of the best methods below.
Sources:
https://worldpopulationreview.com/state-rankings/cost-of-living-index-by-state
https://www.census.gov/library/visualizations/interactive/2019-median-household-income.html
https://www.usatoday.com/story/money/2022/04/12/inflation-rate-cpi-highest-40-years-prices/7284054001/
https://www.cnbc.com/select/average-credit-card-balance-by-state/
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