6 Sure Fire Ways To Get Upside Down in Debt! - (Con't.)

2. Making only the minimum payment on your cards.

The simplest way to be sure to stay maxed out in debt?   Make your minimum payments.  The only thing worse, not making a payment at all.

Face it they system is rigged.  The system is designed to make it easy as possible for you to make a nominal payment "just this once".   And when that happens, you are  are paying the maximum amount of interest to the bank or card issuer.

Minimum payments generally go towards the interest charge, and perhaps a minuscule amount actually goes towards paying off the principal.

Pay off the most you possibly can.  Sometimes if you just work on one card, and pay the most you can, and once that one is taken care or, focus on the next.  When faced with the "I have to make just a minimum payment this month" syndrome, ask if you could actually squeeze out even an extra $5.   Avoid the minimum payment as much as you possibly can.