How do you know if you're financially fit?  Doug Hoyes and Ted Michalos break down the essentials of financial "fitness", covering the importance (or unimportance) of positive net worth, stable cash flow, emergency funds, retirement planning, life insurance, budgeting, and more. This episode is packed with expert insights to help you evaluate your financial health and make informed decisions for a financially “fit” future. Timestamps: (0:45) – Ted Michalos on Financial Literacy Month (2:00) – What does it mean to be financially "fit"? (3:35) – Defining positive net worth and positive cash flow, which is more important? (7:30) – Example of a cash flow analysis (9:10) – The importance of an emergency fund (do you need one?) (12:00) – Is a retirement plan essential? (14:30) – Financial jargon sounds complex – Doug and Ted keep it practical (16:00) – Do you need a budget or any financial plan at all? (21:30) – Setting a savings goal: Why it matters (24:30) – Life insurance and financial security (25:00) – Final financial literacy advice from Doug and Ted We release new content every weekday! Follow our socials for funny podcast clips, money management tips, Q+A, and more! Hoyes Michalos Instagram Hoyes Michalos Facebook Hoyes Michalos TikTok Hoyes Michalos Twitter (X) Hoyes Michalos LinkedIn Episode Links Why Budgets Fail and How to Succeed Straight Talk on Your Money by Doug Hoyes Hoyes Michalos Blog Find a Hoyes Michalos Office in Your Area Here Disclaimer: The information provided in the Debt Free in 30 Podcast is for entertainment and informational purposes only and is not intended as personal financial advice. Individual financial situations vary and may require personalized advice from a qualified financial advisor. Always consult with a financial professional. The views expressed in this episode do not necessarily reflect the opinions of Hoyes, Michalos & Associates, or any other affiliated organizations. We do not endorse or guarantee the effectiveness of any specific financial institutions or strategies discussed.