According to new research from comparison company uSwitch, hundreds of thousands of consumers will take over 30 years to repay a credit card debt of just under £1,400.Figures from the past 12 months show that 3.4m credit card holders, making a minimum payment of 2% per month on an average balance of £1,384 could take an amazing 31 years to repay the whole balance. During this time each of these consumers will have paid over £2,829 each, making a staggering collective amount of £9.6bn overall.As the credit crunch bites ever deeper more and more consumers are tempted to pay only the minimum payment on their credit cards in an attempt to juggle their finances and pay more pressing bills. Simeon Linstead from uSwitch agrees, saying, ‘Over the past year we have seen an increase in credit card spending, making minimum repayment levels more of a problem than ever before.’He adds,’ With the cost of living on the up and people being forced to tighten their purse strings, consumers will be tempted to just make the minimum repayment on their credit cards and spend the cash on more pressing bills.’With the current gloomy economic climate set to continue there appears little that can help. HBOS chief executive Andrew Hornby has predicted that it could be 2010 before the banks begin to start feeling confident about offering loans on a widespread basis again. He commented, ‘It is going to be 18 months before US house prices have started to rise again, which is what is required for banks to have the confidence to start lending again. It will take a long time to play out.’Meanwhile, with the cost of electricity and gas soaring, more than one in four are expected to face fuel poverty within the next year. A report by the National Housing Federation suggests that by the end of 2009 up to 5.7 million UK households will be spending at least 10% of their income on energy bills.The findings were described by Ruth Davison, director of the federation’s campaign and neighbourhoods department, as part of a ‘full-scale national energy crisis.’ She says, ‘The government needs to grasp the nettle and take strong and radical action to protect the nation’s energy customers.’ However, despite an outcry from many national groups and demands that the government help the poorest families with the cost of electricity and other fuel bills, Alistair Darling ruled out the prospect of any one-off payments.Instead, the government is planning to introduce a raft of measures to help with energy saving initiatives, looking to long-term savings rather than short-term help. In the meantime, experts recommend that consumers switch to the cheapest deals by using comparison sites to compare electricity prices or gas prices. For those still struggling to juggle bills, loans and everyday spending, the example of a part –time EFL teacher, Kath Kelly holds out some hope. This week saw the publication of a book where she details how she managed for a whole year on just £1 per day. Just over 2 years ago, the Bristol teacher made a drunken bet in a pub that she could manage her day to day spending only a meagre £1 for each day of the year.Her all in rent of £3,000 had been paid up-front and the enterprising Miss Kelly not only managed to fulfil her bet but found true love in the process. She has now written a book detailing her experiences of belt tightening, giving hope to all those who are still struggling. She said of her experiences, ‘My mates all tried to stop me. They thought I was mad. They imagined I’d be living like a monk, never going out, or freeloading off them. But it wasn’t like that at all. In fact, I was out all the time.’