Home to 2,115,877 people, New Mexico is one of the states with the lowest amount of consumer debt per person. Even so, the average New Mexican household owes $42,868 in things like credit cards, student loans, and mortgage loans. Along with this, the poverty rate is one of the highest in the country at 18.2%. …
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Though Nebraskans’ average credit card debt is lower than average, it is still significant. The state’s average of $4,819 lands them at #36 in the U.S., while the average personal loan balance is estimated at $24,901 and has an 8.75% average interest rate. If you’re a Nebraskan struggling with debt, there are resources that can …
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Many Oklahomans are grappling with a significant amount of debt. On average, Oklahoma households have an average of $8,409 in credit card debt and the sixth-highest credit card debt burden in the U.S., according to CreditCards.com. The median household income in Oklahoma is around $53,840. That’s far below the estimated real median income in the …
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Millions of Texans struggle financially every year. Texas regularly ranks toward the top of states with the highest total credit card debt, averaging $6,753. Texas also has some of the most lenient payday lending laws, landing two cities — Dallas-Fort Worth and Houston — on the list of top 10 cities with the worst payday …
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Alabama has made some significant inroads when it comes to credit card debt. In a 2019 report, the state was ranked near the bottom. But according to a 2022 analysis, Alabama had a median of $2,013 in credit card debt, the third-lowest total of any state, behind South Dakota and Mississippi. The average payoff time …
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Where’s your money really going this holiday season? It’s that time of year again. The winter holidays are just around the corner, and the holiday shopping season is about to hit its peak. With two of the biggest shopping days – Black Friday and Cyber Monday – coming up this month, people are gearing up …
DebtHammer Newsletter #11: The Tools You Need to Become Debt-Free Read More »
As of mid-July last year, Arizona’s total population was an estimated 7,276,316 people. In comparison, the state with the highest population was California at 39,237,836. Arizona is ranked 15 when it comes to the poverty rate. The state’s current poverty rate is 12.8%, which is slightly higher than the national poverty rate of 11.6%. The …
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Cash Advance Apps 101 A cash advance app is an app you can download onto your phone and use to borrow ahead of your next paycheck. They’re usually free to use, though some apps (like Brigit) come with a small monthly subscription fee or have a tipping option (like Earnin or Dave). Unlike other short-term …
DebtHammer Newsletter #10: The Tools You Need to Become Debt-Free Read More »
The more credit card debt you have, the harder it can be to pay off due to compounding interest charges and minimum monthly payments. Fortunately, there are debt relief solutions for most forms of consumer debt, including credit cards. Whether you owe $5,000 or $10,000 in credit card debt, following these strategies could help you …
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What you need to know about the new student loan debt forgiveness plan The average student loan debt per borrower is around $30,000, though many people owe much more than that. Having high amounts of any kind of debt can be stressful, especially if you’re trying to focus on your — or your family’s — …
DebtHammer Newsletter #9: The Tools You Need to Become Debt-Free Read More »