Credit card debt, that is. “Most credit card companies set the monthly minimum repayment at around 2 per cent of the debt,” says Alex. That may not sound like much, but it adds up over time, and you’ll be bleeding money soon. To deal, pay beyond the minimum amount each month. Because the more you pay off, the less you’ll be charged in interest. Next, change up your card to one with lower interest rates and almost no annual fee, to easily settle your debt. Smug face, guaranteed!