Credit

Credit cards: A minimum payment might help you in the short term but could be one of your most expensive decisions.

Want to be your credit card company’s favorite customer? Just max out your card’s limit, agree to pay interest at a rate of 18 percent to 25 percent, and make only the minimum payment each month.

Managing finances properly is mainly common sense. While we’ve all made financial mistakes, most of those mistakes are easily rectified, particularly when promptly corrected. However, there are some financial decisions that can be much harder to recover from. Here are just a few of them: