User uShare Login | Register

Along with posting photos, videos, and stories, your uShare account lets you post Classified Ads, recipes on What's For Dinner, and Announcements.

29° View Weather Current Conditions Sioux Falls Change Location
Set Weather Options



 Winter Storm for November 30, 2015

Snow Outlook

Severe Weather

State Radar

Click here for local closings & delays

Send photos to

Storm Center Update



[0] My Saved Articles
Back to all news


Find local businesses
on the KELO Pages!


Consumers Incur Less Debt

December 17, 2012, 9:50 PM by Angela Kennecke

Consumers Incur Less Debt

For the majority of this year, consumers have charged less on their credit cards than expected.  That's according to a study by  We're still expected to end the year with $36.4 billion dollars more in credit card debt than when it started, but that's some $7 billion less than expected.  But that number could rise if people overspend during this holiday season. 

With the pressure on to buy gifts, many people just whip out the plastic and don't think about those bills rolling in come January. 

"You always want to think about what is the value of this gift and how does that relate to my long-term goals?  Is my long-term goal to have a house, or to be able to go on a family vacation? What is it costing me in the short term for those holiday gifts, in order to get there?" Marley Prunty-Lara with Consumer Credit Counseling said.

The average household carries $6,747 in credit card debt.  If your balance is high, you may want to consider a zero percent transfer. It can save you up to $1,000 while you pay it off, unless there are fees that go along with it.

"Not only are there fees to put it on the new, zero-percent credit card, but there can be fees to move it from your current credit card," Prunty-Lara said.

Consumer Credit Counseling says it advises people not to charge more than they can pay off by the end of the month or at least within six months.

"If you're going to pay off the debt in six months, does it make sense to transfer the balance or more sense to pay more than the minimum, an extra $100 or $200 a month to just wipe out the balance completely," Prunty-Lara said.

And if credit card debt and impulse buying is a problem for you, consider using only debit cards, where you cannot spend more than what is in your bank account.

"We tell people weigh the options.  Is it a credit card for you or is a debit card?" Prunty-Lara said. 

One reason consumers are racking up less debt than expected is because unemployment is the lowest in four years and consumers don't have to rely on going into debt as much just to get by.

Previous Story

Next Story




View business

You may also like

Board Of Education Member Had Multiple Contracts With State

11/23/2015 6:05 PM

That means in addition to her state salaries at USD and Northern State, Duncan earned an additional $124,000 in contracts from the Department of Educa...

Full Story | Watch
Fired GEAR UP Worker Defends Stacy Phelps

11/24/2015 6:05 PM

When the state pulled its multi-million dollar GEAR UP contract from Mid Central Educational Co-Op in September, all the current GEAR UP workers were ...

Full Story | Watch
Bison Ranch Owner By Turner Gets Permit For Feedlot Addition

11/25/2015 1:35 PM

Stanley County commissioners have approved a feedlot at a bison ranch owned by media mogul Ted Turner.

Full Story
Some Black Friday Deals Are Not Deals

11/23/2015 4:51 PM

Recent research found just because something is called a doorbuster doesn't mean it's significantly discounted.

Full Story
Cyber Monday Sales Bring Down Target Website

11/30/2015 10:03 AM

Target’s website went down during Cyber Monday shopping Monday morning.

Full Story