According to a study by the FCA, 1.6 million people only make the minimum repayment on their credit cards each month. Research released this week by savvywoman.co.uk this week bears this out; it found that 4 in 10 adults grossly underestimate how long it will take to pay off credit card debt if you only pay back the minimum every month. Sarah discusses the findings with her guests, Jane Clack from Pay Plan and the freelance finance expert Martyn James.
