Most experts will advise people to understand his / her own financial situations in order to have a better financial planning. It is even more important if you are in debt. You need to understand your situation thoroughly so that you can plan how you can reply all the debts. As a matter of fact, it is always to good idea to have a debt free life!
The problem here is, what can you do in order to understand your current financial situation? Of course you can find a personal financial planner to help you in this expect. However, in most cases you may not want to spend the money on this issue. As a result, you will try to do it yourself. In fact, it is not difficult for you to investigate your own financial situation. You can create a finance checklist of your own and you will have a deeper understanding about your current situation.