A recent report showing North Dakota and South Dakota credit card users with some of the lowest rates of credit card debt doesn't surprise us one bit.
The report, done by a credit reporting agency called TransUnion, shows North Dakota with the nation's lowest credit card delinquency rate at 0.36 percent, followed by South Dakota at 0.42 percent. The same report showed North Dakota's average debt per credit card borrower is roughly $4,000, below the national average of almost $5,000.
The information isn't surprising because the vast majority of North Dakotans have long considered themselves to be sensible folks who live within their means. Traditionally, many North Dakotans have spent what they need, but also set aside extra funds for future use. The same is true on a state-wide level.
Granted the state's economy continues to be fattened by a booming oil industry, but the state has also been prudent in establishing ways to direct some of that income into funds for the future. That's why the state has the best economy in the nation, with more than a billion-dollar surplus.
It's rewarding to see what North Dakotans are doing on a personal level is reflected in the state's overall economy.