Posted on 11/28/2024 3:47:50 PM PST by ChicagoConservative27
This map visualizes the average credit card debt held by households in each U.S. state and ranks the states where residents pay off the debt the fastest and slowest.
Data is sourced from Bankrate (2024) who also used average monthly household income to calculate how long it takes to pay off balances.
Households in Alaska and Washington D.C. are carrying more than $7,000 in credit card debt, the highest across the country. However, with average annual household incomes of $109,000 and $149,000, residents in both states can pay off their debt in about 15–20 months.
In fact, glancing through the numbers below reveals a pattern.
(Excerpt) Read more at visualcapitalist.com ...
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