Montanans’ Bank Accounts Are Feeling The Burn
Whether you’re looking for seclusion or adventure, you’ll find it all in Big Sky Country. From the rolling Rockies to the sprawling Great Plains, Montana boasts over 147,000 miles of stunning landscape dotted with exciting cities and charming town. But while Montana’s natural splendor is unmatched, its residents’ bank accounts are less than lackluster.
With inflation skyrocketing to a new 40-year high and Missoula, Montana housing prices increasing by 30%, Montanans’ bank accounts are feeling the burn. To make ends meet, families are relying on their credit cards to pay for groceries, medication, and clothing. And without the income they need to reduce their debt, residents of the Treasure State are caught in an endless cycle of burdening bills.
Citizens Of Montana Are Deep In Debt
The average household in Billings, Montana has $9,178 in credit card debt. Citizens of Missoula owe $8,992 to credit card companies. These high amounts can take years to pay off, adding more strain to an already stressful situation. Families who can only afford the minimum payment end up covering the interest rather than decreasing their debt. It can seem like there’s no way out of this vicious cycle.
Use the calculator here to determine how many minimum monthly payments you must make to decrease your debt, as well as how much you will pay in interest.
Eliminating Your Debt In Montana
If you want to enjoy freedom from debt, there are several tools that can eliminate your loans, including:
Sources:
https://www.pbs.org/newshour/politics/u-s-inflation-hits-new-40-year-high-jumping-7-9-over-past-year
https://missoulacurrent.com/business/2021/08/housing-prices-montana/
https://wallethub.com/edu/cc/credit-card-debt-study/24400#average-debt-decrease-by-state
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