The state of South Dakota is known as the home of Mount Rushmore, a historically significant landmark that includes full sculptures of the heads of four important presidents in U.S. history – George Washington, Thomas Jefferson, Abraham Lincoln, and Theodore Roosevelt. Mount Rushmore attracts nearly 2 million visitors each year to view the extraordinary sculptures in the mountain.
South Dakota is also the site of one of the world’s largest and most complete tyrannosaurus rex fossils ever found. The state’s climate allows for four very distinct seasons, ranging from warm summers to bitingly cold winters. The climate plays a role in making the state known for its wide range of agricultural products, including honey, corn, and cattle.
While the state is known as being naturally beautiful, with plenty of wide-open spaces for hiking, camping, or swimming in the lakes and rivers, it does have its drawbacks. Inflation has affected South Dakota just as it has other states. This, combined with the cost of living, can make it hard for the average resident to meet regular bills, not to mention pay off their credit card debt.
Individuals who live in South Dakota struggle with low incomes and an increasing cost of living index. The average salary in South Dakota is $46,810, which is well below the national average of $58,260. The cost of living is ranked at 99.8, which is just below the mean of 104.63. South Dakota also ranks high in household debt, with an average of $3,909.
All of these factors combine to make South Dakota expensive to live in. Those who take on credit card debt may find themselves in a never-ending cycle of earning money, only to spend it on basic living expenses and the minimum payments towards their credit cards. This can make it incredibly difficult to get ahead and obtain financial stability.
To find out how long it will take you to pay off your credit cards by making only the minimum payments – and how much interest you’ll pay to do so – enter your details into our interactive calculator provided below.
If you’re tired of making regular payments on your credit cards just to see a small dent in the overall balance each month, you’re not alone. Americor has several programs designed to help you obtain the debt relief you need. To learn more, click on the links provided below: