Becoming Free from Debt in Wisconsin
The Dairy State Suffers from Higher Costs of Living
Wisconsin, known for being a tourist’s paradise, has a lot to offer to residents throughout the year. It has numerous lakes and rivers that are enjoyed by families who come from all over the state to swim, paddle, and sail. It’s also known for its dynamic cities, such as Madison and Milwaukee, which provide visitors with delicious farm-to-table cuisine.
The city of Green Bay, home to football’s famous Packers, entices sports fans who love to cheer on the home team. Clearly, there is a lot to appreciate for those who choose to live in Wisconsin.
Despite all of the wonderful attractions that Wisconsin has to offer, its residents know the struggle of rising rental rates combined with high taxes and growing inflation. All of these factors make Wisconsin expensive for its residents.
When costs rise and incomes stagnate, it’s not uncommon for individuals and families to take on credit card debt in order to make ends meet. This can lead to a vicious cycle of making minimum payments while accumulating even more debt. Using Wisconsin debt relief programs can help families discover a better financial path.
Credit Card Debt in Wisconsin
Credit card debt is a problem across the United States, and Wisconsin isn’t immune. The average resident of Wisconsin holds $3,963 in credit card debt — exceeding the median amount of $3,706 held across the country.
In addition to the high debt, Wisconsin residents face rising home rental costs and a lower supply of homes to purchase. Studies show that home prices increased 9.3% from February of last year. These rises in price push many would-be homeowners out of the market and leave them to cope with increasing rents.
While inflation has soared around the world, the rural communities of Wisconsin, including Deerfield, have seen rates greater than 130% higher than those of larger cities. As most rural areas consist of farms whose owners already cope with limited income, it’s no wonder that many turn to credit cards to subsidize their cost of living.
Fortunately, there are Wisconsin debt relief programs to assist individuals in finding their financial footing.
Discovering Wisconsin Debt Relief Programs
Credit card debt can reduce the amount of money you have available to afford your lifestyle, provide for your family, and save for the future. Find out how to get out of debt using the tools below:
Sources:
Wisconsin Destinations | Places to Visit | Travel Wisconsin
Wisconsin – Wikipedia
Debt by State 2022 (worldpopulationreview.com)
State’s Rising Home Prices a Concern » Urban Milwaukee
Inflation hitting rural communities especially hard | News | wkow.com
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