Staying in Idaho Could Make Your Debt Unaffordable

Debt is something many of us deal with and sadly will for most of our lives. Some of us will work for years to try and pay off student debt, house debt, car debt, and many others. Credit cards will pile up, bills will back up, and before you know it, the debt you have collected will last you for most or all of your lives. The interest will grow the longer it takes to pay off, and perhaps your payments are mostly being for that, instead of the bill itself. Where you live can affect how much debt you have and how much it increases yearly. What state does debt increase the most, what state does it increase the least, and is living in Idaho causing your debt to increase too much?

The State with the Highest and Lowest Debt Increase

Over time debt increases for many, and where you live can determine how much that increase is. WalletHub recently released a list ranking states from highest debt increase to lowest debt increase and ranked the states using a couple of categories such as household debt, household debt increase, total debt, and total debt increase. Using these criteria, it was determined that Hawaii has had the largest debt increase, with California being second, and Colorado being third. The state with the lowest increase is West Virginia, with Mississippi having the second lowest, and Oklahoma rounding out the bottom three. 

How Much Does Debt Increase in Idaho?

Living in Idaho may have your debt a little higher than you want, and the bad news is, that it will only increase more by living in the Gem State. Idaho comes in on the list at 9, making it one of the states with the largest increase in debt. The average household debt is $188,899 with an average increase of $772. The total debt in Idaho is $112,285,528,042, with a total debt increase of $507,320,313. To see the full list broken down, you can click on the link in the paragraph above. 

Get our free mobile app

If you are desperate to save money and to see your debt stop increasing so much, it might be time to pack your bags and look elsewhere, but as long as you can make payments and see the total debt go down on your bills, then stay and enjoy the beautiful state of Idaho. Living in beautiful places costs money, but once you accept that many of us will likely never fully get out of debt, then life can be a little more enjoyable, and if you are debt-free, consider yourself lucky.