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Many people figure that they’re going to get themselves out of debt “someday.” The problem is, getting out of debt takes positive action. The problem is that many people want to get their finances in excellent shape but don’t want to take the steps to make it happen. If you want this to happen, you have to plan to get out of debt.

Start by putting your financial condition in writing. Write down all your debts. Some of those are going to come to mind easily. Mortgages and other monthly payments are probably going to be the first things you list, but this isn’t an all-inclusive list. Add utilities, car expenses, food, clothing, daycare costs and anything else that you spend during a typical month. Think you’re done? What about property taxes? If you pay your car insurance every six or twelve months, figure what your monthly payments are and add those as well. Don’t forget entertainment! Regardless of what you spend money on, write it down. Balance that against your monthly income. You may be surprised at how much you should have left at the end of each month.

Wondering where that money goes? Keep a detailed list. Each time you buy a soda or snack from the vending machine at work, write it down. When you get this comprehensive list accumulated, you may be more surprised at how much money you didn’t realize you were spending!

The next step should be to search for ways to save. You’ll find that simply replacing a couple of restaurant lunches each week with a sandwich from home will add up. Every opportunity to save puts you one step forward on your plan to get yourself debt free.

The final and most important step in your plan to get out of debt is to take a serious look at current debts, mortgages and loans. Do you have good interest rates? If you took out a loan when rates were high, it may be time to refinance. If you had bad credit when you took out a loan but have made timely payments, your rating may be improved enough to warrant better interest rates.

The plan that will get you out of debt varies from one situation to the next. If you aren’t sure what your next move should be, seek out the advice of those well versed in finances. Consider a new loan, refinance an existing loan or cash in on the equity in your home. Whatever it takes to get you debt free, it all starts with action.