By Robert Adungo

Credit card debt is expected to remain high in 2012 as new research reveals that a quarter (26%) of Brits expect to owe money, with nearly one in ten admitting to relying on plastic to make ends meet.

The rising cost of living/bills is also Brits' biggest financial concern (22%) this year and one in four of respondents to a recent poll said they are keen to find ways to make savings in the coming year.

According to the study commissioned by Gocompare.com, 35% would also like to clear any debt they have or reduce their loan and credit card costs. It also found food shopping and transport costs, followed by gas and electricity, to be areas in which people feel they could make savings in 2012.

For those keen to minimise their credit card debt, the website recommends taking control of matters - sorting out bills as soon as they arrive rather than ignoring them and risking interest charges.

The whole balance should ideally be cleared rather than just making the minimum repayment as failure to do this means it will take longer to clear the debt, during which time the interest will be piling up.

For example, a debt of £5,000 could take up to 34 years to clear if only the minimum repayment was made each month, warns the site, which also recommends paying off the most expensive card first - the one accruing the highest interest.

As well as switching your credit card to one that offers an extended interest-free period on balance transfers, repayments should not be missed because punitive charges - typically around £12 - kick in. Missing payments can also have a negative impact on your credit rating.

The average Brit is now in debt for two Christmases, according to a recent survey by MyVoucherCodes.co.uk.