Reply to Do you overextend yourself financially for your kids? (interview request)

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[quote=Anonymous][quote=Anonymous][quote=Anonymous]What does overextend mean? Is there a rule that no more than 10% should go towards raising children? I would be interested in a formula. We all know about how much of a mortgage can we realistically afford or get a loan for but kids? We are at private with financial aid. Is that overextending? [/quote]

I'm not going to volunteer to be interviewed but I consider myself overextended.
We have a couple tween kids. Our income is stagnant over the past decade. We struggle to keep up the mortgage, medical and other bills every month. Essentially no savings. No college fund. No retirement contributions for six years. We were fine financially before kids but our costs have almost doubled (crappy little house instead of one bedroom apartment, about $1200/month for health insurance and medical costs, decent groceries, etc.)
[/quote]
Is this what she means?  How is this a story except to you guys?  I mean, I hope things improve for you but it doesn't sound like interesting reading to a stranger.  Doesn't it have to be something like falling into debt due to spending thousands of dollars for a travel team (or something else most people would consider extravagant or not necessary)? Otherwise, it just sounds like most of America![/quote]

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