Rising Costs Hit Idaho
Idaho, while famous for its delicious potatoes, is also known for its beautiful landscape. The state is a nature-lovers paradise dominated by the Rocky Mountains, luscious rivers, and bountiful farmland. As a result, Idaho has long attracted retirees and families seeking a peaceful life.
Yet, peace has been hard to come by lately as Idahoans face rising expenses. Housing prices in Idaho have increased by more than 150% since 2015, and farmers are struggling with both drought and dramatically inflated production costs. High state and local tax rates, at an overall cost of 9.6%, don’t help, either. Many families are using credit cards to get by during these tough times.
The True Cost of Credit Card Debt
The average Idahoan owes $5,213 in credit card debt, and that number will most likely rise as families continue to suffer under high inflation and rising everyday costs, including food, electricity, and transportation. Unfortunately, once families are in a significant amount of credit card debt, it often takes years to get out.
To find out how long it will take to pay off your debt using only the minimum payments, use the calculator here. The calculator also indicates how much you’ll pay in interest — the number may surprise you.
Consider Idaho Debt Relief Programs
If you live in the picturesque state of Idaho and are struggling with credit card debt, we want to help. Consider your options for Idaho debt relief options:
Sources:
Idaho State Facts: History, State Symbols & More Fun Facts (visitidaho.org)
15 Interesting Facts About Idaho – The Fact Site
Idaho Tax Rates & Rankings | Idaho State Taxes | Tax Foundation
Cost of Living in Idaho, United States. Updated Feb 2022 – SalaryExpert
Debt by State 2022 (worldpopulationreview.com)
Idaho incomes rise, but housing costs far outstrip them (boisedev.com)
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