Reply to Earning Well but Drowning in Debt...how to dig out?

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[quote=Anonymous]People have to get the storyline right:

op and husband accrued student loans
then, op bought the house when they were engaged
then, they had the first kid
then, grad school/unpaid maternity leave paid for by cc/more student loans
then, they had the second kid
then, unpaid maternity leave paid for by cc
then, they got pregnant with third kid
bought two bigger cars to accommodate three kids
then, unpaid maternity leave paid for by cc

in this sequence, I can understand why the house was purchased. but at some point along the way, the expenses became unsustainable. as a student, it's easy to put student loans in the back of your mind, and perhaps this mindset led the way to the cc debt. the current income/debt ratio is unsustainable, and so, unless you can increase the income, your mindset must be changed so that you stop accruing debt. I bet it's going to be hard because you probably have a good rhythm going with commute/job/childcare, so assign that rhythm a value and see if it's worth it. if you don't change now, reassess every now and again, and see if you can change things when all three are in the same school or a new job, etc.

good luck.
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