arjun2 wrote:
what do you mean by eyeballing.
If you use the alignment tools to align two text frames, the frames might be the exact distance you want, but you have to look at them with your eyeballs to know if the text within is the correct distance. You can sometimes get a better view if you go into Preview mode (View>Screen Mode>Preview, or use the W key to toggle between Preview and Normal).
To set the size of the frame to fit the content, select the frame and go to Object>Fitting>Fit Frame to Content, or use the shortcut Command Option C. You can also double-click on the edge of a frame to collapse that side of the frame to fit the content. By that I mean that if you start with this:
…and double-click the handle circled in red, it will collapse the left side to this:
…and if you double-click the handle circled in red, it will collapse the bottom to this:
You could also have double-clicked the handles on the top or right or a corner, and the only difference is the part of the frame that stays in position after the collapse.