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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]HHI - $300k
Student debt - $250k
Car debt and other debt -$50k
Retirement fund, IRAs and 401k balance- $170k
Monthly fixed expenses: $4k 
[/quote]
How much of the $4k goes to student debt, how much for car and how much to 401k/IRA?  
How much are you putting toward college costs for children? 
What is the “and other debt”?

How is the $300k income split between each spouse?

[/quote]

The $4k expenses doesn’t include any payments for the student debt (it’s on a freeze for now) and it doesn’t include retirement (we put $30k/annually in retirement funds). $722 for the car which is included in the $4k expense figure.  We haven’t started saving for college yet. [/quote]

Student loans are being unfrozen next month - in July 2023 - per the debt ceiling bill that just passed Congress...So your payments should absolutely be factored into your expenses. FWIW, I am 35, have three kids under 5, and came out of business school with $100K of debt about 7 years ago (I have about $14K left to go). We bought a house for $1.4M a few years ago when interest rates were reasonable (we put more than 20% down and our PITI is 5.5K) and I think I had around $30K in debt. Our income was about $350K then (now it's around $750K) and my student loans didn't impact our ability to get a mortgage. We currently pay for a nanny and preschool, but other than my student loan payments each month and our mortgage we don't have any debt. I would be cautious about taking out too much and overextending yourself with your loan payments... do you know what your loan payment will be when the pause ends next month? Are you going to try to pay it off in the next 10 years or so or are you just planning on paying the minimum for 30 years?[/quote]

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