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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]Gross 
Me: 180K (public affairs/lawyer)
DH: 80K (nurse)

We live in No. Arlington. Mortgage is $4500/month. 2 kids under age of 3 in daycare = $2500/month. One car payment = $615/month. Student loans = $550/month. Stopped contributing to 401K after arrival of #2 but will probably resume again. We just spent the last year paying off $20k in outstanding credit card debt. But now DH is going to grad school at $8600/year. Will we ever get ahead? Seems ridiculous to be scraping by making over $260k.

We are both around 40. Late bloomers. [/quote]

Argh.  If you bought during the bubble, you may have the big house payment with not much to show for it (but you were able to refi, I hope, to a new lower rate?).  If you didn't buy during the bubble, you probably have an AMAZING house, so you do have that going for you!

You should be proud of yourselves for paying down that CC debt -- that's the killer stuff.  Sounds like, other than mortgage, your expenses are ok.  The only thing I think I'd change (other than refinancing if you haven't already) is to get a less expensive car.  Unless you're seen in it often (I'm not sure, maybe you are), you can get a good car for a [b]lot[/b] less than that -- it just won't be a luxury car.[/quote]

Not able to refi and not able to sell. We bought a fixer-upper and decided to invest the money we made from selling our condo (during the bubble thanfully) to make it liveable. 100% financing and IO loans. We haven't invested in an appraisal but real estate agents we talk to think that we probably could not hope to sell for much more than we bought in for. We are in a great location, but our financing deal sucks.  Refinancing appears to involve PMI and only add to our principal without lowering our payment much. Might make sense if we were committed to staying forever, which we are not. It wasn't supposed to be this way. I think a lot of people would sympathize. I'm thinking we should put efforts towards putting more towards our mortgage each month (more austere living) or just wait out the market. Then there is paying for grad school. I'm loathe to add even more debt. What to do? The car is a done deal. I don't think there is much we can do about that.  What to do? There is a lot about our house that still needs to be done to make it "amazing". [/quote]

Jesus Christ ... not that good with financial planning are we?  The debt strapped, house poor twenty first century American consumer. [/quote]

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