It seems that every where that you turn these days, people are talking about being able to get out of debt. Some of these people are talking about companies and schools, while others might even be referring to whole countries that are barely a float. With the whole world in turmoil, it is often hard for individuals to see what they need to do to be able to get out of debt.

Many of the top financial experts agree that there are a few things that you can do to change your life and make you more financially fit and out of debt. All it takes it some knowledge of what you need to do and the action to make it happen.

Create a Budget

Do not roll your eyes at the suggestion to make a budget. Most people do not realize just how much money that they spend each month on all of the stuff that they do and get. If you do not have a good way to track spending for the last few months to find out what your expenses are looking like, you can start out by tracking every penny that you spend for a month.

Once you have your expenses figured out, you can easily start to see where some money is being wasted. Once you trim the fat from your budget to help you to get out of debt, you can now figure out how much that you are going to be spending each month on your expenses. Remember the key here is to live below your resources not at or above them.

8 Month Emergency Fund

Part of any budget that you create needs to have money being set aside into an 8 month emergency fund. This is 8 months of living expenses that would carry you if something were to happen. This is not a savings account for bigger purchases like a car or TV. To be financially fit and out of debt, you need to have this safety net in place. This way, you know that no matter what happens you will be ok.


There are way too many people in this world that do not have a will setup. You can easily go to many place like Legal Zoom and create an official will for not a lot of cash. A will helps you to take care of your money and your loved ones if something were to happen to you. Everyone needs a will and it only takes a short amount of time to get one done.

Term Life Insurance

Part of being financially fit and out of debt is about taking care of your family if something happens to you. You can do this with a term life insurance policy. You can get more then enough coverage for a low monthly payment. It is really piece of mind knowing that no matter what your family will be taken care of.

The basics of being financially fit and out of debt like not spending money that you do not have is something that you should be doing every day. However, these additional steps can be just as important when it comes to putting your life on the right track.