How much debt does your household carry, not including mortgage?

[MooCowSteph]

We have some debt - more than I would like to have. It can be hard to make extra car payments and mortgage payments in order to get out sooner, and we find ourselves using credit in emergencies. I just can’t believe how much our monthly expenses are, and I just don’t know where to cut. Medical, car, life, and homeowners ins, electric, phone, internet, gas, groceries, ADT, mortgage, property taxes, gifts, car payment, diapers, household goods, auto and home maintenance… We already cut out all the frills except satalite tv, which is only about $50 a month, and I guess DSL at $30 is a frill. We need the cell phone for my husbands business, and with all the time he spends online for work, it would be hard to do without the DSL (he works from home). I suppose with the East Coast’s higher cost of living, it’s a bit harder. Home prices here are pretty high, and we have a small one. I’m just worried because in 4 weeks I am leaving my job to prepare to be a SAHM. It’s very scarey to say goodbye to my income.

 

[Ham1]

You can do it on one income. It’s hard but you can do it. Don’t beat yourself up about having some debt. It’s not the end of the world. If you need to carry some debt in order to live the right life, then do it. It’s worth it. I would rather have some debt and still go out to dinner once in a while with my wife. The way I see it is that if you’re able to pay your bills and put some money in a 401K or IRA, then don’t sweat it. Things are good and will get better in time. I guess my advice is don’t scrimp to the point of no longer enjoying a few small pleasures in life.

But then again, I have a lot of debt, so you might not want to listen to me.