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Commenting on recent figures from Standard Life, financial solutions company Think Money stresses the negative impact of carrying debts - and suggests ways of minimising that impact.

"Used cautiously, credit cards can be a useful tool," a spokesperson for Think Money stated. "They can provide the short-term credit that people often need to add that bit of flexibility to their monthly finances - without having to apply for a small loan every time they need a small amount of extra cash.

"At the same time, this can also be one of the most worrying things about credit cards. That immediate availability of credit is one of the reasons many people end up owing far more than they expected on their credit cards. It's easy to borrow a bit more, a bit more, a bit more…"

Standard Life's press release indicates that UK adults who hold credit cards spend £317 per month repaying...

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