Nov 16, 2024
BISMARCK, N.D. (KXNET) — In recent years, the financial crisis across America has resulted in a higher price of living for many — but exactly how bad this is depends on the state in question. Thankfully, North Dakotans are some of those who are least affected by this cost crunch. To discover where this idea is most prevalent, debt relief specialists with TurboDebt analyzed data on multiple factors relating to the cost-of-living crisis from the U.S. Census Bureau's 2022-2023 surveys, including food scarcity, median income, and the household debt-to-income ratio. When final scores were calculated from this information and weighed against one another, it was observed that ND is facing much less of a credit crunch than many other parts of America. When ND's different factors were added together, they resulted in a final score of 28.62 — one of the lowest in the nation. In contrast to these lower risks, states like Mississippi, South Carolina, and Louisiana are observed to be struggling the most in the cost-of-living crisis, all of which have scores that are more than double North Dakota's. Five injured in rural Wyndmere crash “This study is one of the most comprehensive looks at the cost-of-living crisis, analyzing 13 different factors to give a complete picture of how this crisis is impacting Americans across the country. It’s clear from the data that Southern states like Louisiana, Mississippi, and Alabama are feeling financial pressure more than most. These areas are often reliant on industries such as agriculture and manufacturing, which haven't seen the same economic recovery as other sectors. While the crisis may look different in each state, the core issue remains the same: millions of Americans are struggling to afford the basics. Without meaningful policy changes, we risk deepening the divide between those who can manage the rising costs and those who are struggling to keep up.”  Close Thanks for signing up! Watch for us in your inbox. Subscribe Now Today's Top Stories SIGN UP NOW
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