skip to main content
skip to newscasts

Friday, March 29, 2024

Public News Service Logo
facebook instagram linkedin reddit youtube twitter
view newscast page
play newscast audioPlay

The latest on the Key Bridge collapse, New York puts forth legislation to get clean energy projects on the grid and Wisconsin and other states join a federal summer food program to help feed kids across the country.

view newscast page
play newscast audioPlay

Republicans float conspiracy theories on the collapse of Baltimore's Key Bridge, South Carolina's congressional elections will use a map ruled unconstitutional, and the Senate schedules an impeachment trial for Homeland Secretary Mayorkas.

view newscast page
play newscast audioPlay

Historic wildfires could create housing and health issues for rural Texans, a Kentucky program helps prison parolees start a new life, and descendants of Nicodemus, Kansas celebrate the Black settlers who journeyed across the 1870s plains seeking self-governance.

South Dakota Consumer Debt: Two Steps Forward, One Step Back

play audio
Play

Monday, July 20, 2015   

SIOUX FALLS, S.D. - South Dakotans joined the rest of the country in paying off almost $35 billion in credit-card debt in the first quarter of this year. That's according to a study released by CardHub.

While the accomplishment may sound promising, Jill Gonzalez, spokeswoman with CardHub, says it's important to note that consumers accrued almost $46 billion in debt in the last quarter of 2014.

"We're getting farther from the recession, a lot of people say we're not all the way out of it yet, but I think consumers are now willing and wanting to spend more," she says. "Unfortunately they're still spending money they don't necessarily have."

To reduce credit-card debt, Gonzalez recommends paying off cards with the highest interest rates first, or transferring debt on those cards to low-interest cards. She notes it's also important not to fall behind on credit-card payments, because delinquency impacts your credit score significantly.

Another method to manage spending is called the "Island Approach," which involves using different credit cards for different categories of transactions. For example, you could transfer existing debt to a zero-percent interest card, and use another card for ongoing spending that offers rewards points. Overall, Gonzalez says having a budget is key.

"Making a budget, sticking to it," she says. "That's kind of the age-old advice but really, just spending less than you have to begin with and then the money you are spending, make sure you're setting it aside to pay off your debt."

In addition to paying off debt, experts recommend building an emergency fund equal to several months' income in case of job loss or an unexpected illness.


get more stories like this via email

more stories
The U.S. Supreme Court heard arguments this week about the popular abortion pill Mifepristone and will weigh in on whether the U.S. Food and Drug Administration was correct in how it can be dosed and prescribed. (Ascannio/Adobe Stock)

Health and Wellness

play sound

Missouri residents are worried about future access to birth control. The latest survey from The Right Time, an initiative based in Missouri…


Social Issues

play sound

Wisconsin children from low-income families are now on track to get nutritious foods over the summer. Federal officials have approved the Badger …

Social Issues

play sound

Almost 2,900 people are unsheltered on any given night in the Beehive State. Gov. Spencer Cox is celebrating signing nine bills he says are geared …


The U.S. teaching workforce remains primarily white while the percentage of Black teachers has declined. However, the percentage of Asian and Latinx teachers is rising.(WavebreakMediaMicro/Adobestock)

Social Issues

play sound

Education advocates are calling on lawmakers to increase funding for programs to combat the teacher shortage. Around 37% of schools nationwide …

Environment

play sound

New York's Legislature is considering a bill to get clean-energy projects connected to the grid faster. It's called the RAPID Act, for "Renewable …

Social Issues

play sound

Earlier this month, a new Arizona Public Service rate hike went into effect and one senior advocacy group said those on a fixed income may struggle …

Social Issues

play sound

Michigan recently implemented a significant juvenile justice reform package following recommendations from a task force made up of prosecutors…

 

Phone: 303.448.9105 Toll Free: 888.891.9416 Fax: 208.247.1830 Your trusted member- and audience-supported news source since 1996 Copyright © 2021