Known as the home of the Huskers, the reuben sandwich, Arbor Day and Warren Buffett, Nebraska is a unique and friendly place to call home. Unfortunately, many Nebraskans are incredibly familiar with debt and the impact it can have on their lives. If you are burdened with overwhelming debt, Accredited Debt Relief may be able to help.
Nebraska Financial Statistics
- The debt-to-income ratio in Nebraska is 1.172.
- Nebraskans have an average credit card balance of $7,515 and a median annual household income of $59,970.
- Although the Cornhusker State is a fairly affordable state to live in, those living in Lincoln, Omaha and Kearney have a higher cost of living than their neighbors.
How Did I Get Into So Much Debt?
It’s incredibly easy for a small amount of debt to build into a bigger financial problem down the road. Credit card misuse is one of the most common causes of debt, as they allow you to spend more than you make. Without a plan to pay your creditors back, it’s likely that you’ll only pay back your monthly minimum and begin to rack up interest.
Financial emergencies can also add to your building debt. Only 40% of Americans are able to cover an emergency $1,000 expense with their savings, meaning that the other 60% would most likely put that expense on a credit card or a personal loan. Since it’s nearly impossible to predict when an emergency expense may come up, paying off your debts and creating an emergency fund should be your biggest priority. If you have tried to pay off your debts on your own in the past with no success, it may be time to contact a debt relief company to review your options.
Nebraska Debt Consolidation
Accredited Debt Relief is a BBB accredited debt consolidation company providing services throughout much of the U.S. Whether you’re in Omaha, Lincoln, Grand Island, Kearney, Scottsbluff, or elsewhere in the Cornhusker State, we’re ready to review your financial situation and provide you with a free, no obligation consultation. Contact us today for more information.
Chamber of Commerce: https://www.chamberofcommerce.org/credit-card-debt-by-state
Federal Reserve State Level Debt-to-Income Ratio, 1999 - 2018: https://www.federalreserve.gov/releases/z1/dataviz/household_debt/state/map/#year:2018