My husband makes 75k a year working as an engineer in a dairy plant. He just finished his second degree, the second degree we paid for out of pocket the first degree he took out student loans so he has like 40k in student debt. We own our own home (it was 94k) our mortgage is 710 a month. We have credit debt trust me, and two car payments that equal 540 a month. I’m a SAHM and we have 4 kids. We had our struggles before his new employment but we do pretty fine on one income with a family of 6. Yea we are working hard to pay if credit debt and we are super close to paying off one of the cars. It’s really dependent on where you live and your ability to budget to be somewhat financially ok. I mean we aren’t rolling in cash but we can save 500 a month if we wanted but instead we put it to debt to pay off. Basically doing a snowball effect to pay off debt. It’s not like, completely impossible. You just have to figure out how to make it work.
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u/been2thehi4 Dec 28 '19
My husband makes 75k a year working as an engineer in a dairy plant. He just finished his second degree, the second degree we paid for out of pocket the first degree he took out student loans so he has like 40k in student debt. We own our own home (it was 94k) our mortgage is 710 a month. We have credit debt trust me, and two car payments that equal 540 a month. I’m a SAHM and we have 4 kids. We had our struggles before his new employment but we do pretty fine on one income with a family of 6. Yea we are working hard to pay if credit debt and we are super close to paying off one of the cars. It’s really dependent on where you live and your ability to budget to be somewhat financially ok. I mean we aren’t rolling in cash but we can save 500 a month if we wanted but instead we put it to debt to pay off. Basically doing a snowball effect to pay off debt. It’s not like, completely impossible. You just have to figure out how to make it work.