Decrease debt with snowballs on an island.

• Position: YOUR LIFE - Brief article

U.S. consumers finished up last year with an $80,000,000,000 net increase in credit card debt, according to the personal-finance website WalletHub's 2016 Credit Card Debt Study. With that in mind, WalletHub offers some tips that consumers may want to follow to reach debt freedom as quickly and inexpensively as possible:

* Make a budget and stick to it. Rank-order your expenses--including debt payments, emergency fund contributions, and other savings--and trim the fat until the amount you earn exceeds the amount you spend. It does not take long for luxuries to begin to feel like necessities, so cut liberally.

* Build an emergency fund. Your goal should be to save about a year's worth of after-tax income gradually through monthly contributions to an emergency account--and you actually should start before getting serious about paying off debt. Otherwise, you simply will be too vulnerable.

* Improve your credit and do a balance transfer. A higher credit score will help you save on everything from loans and lines of...