I am 20 years old with a wife and a 8 month old daughter.
I have a truck payment and a house payment.
How much would someone else need to make to be able to afford? I know everyone is different and has different interest on things to spend money on. But I was just trying to get a ballpark on where I stand financially with the society.

How much are your payments? Are you falling behind?

Does your wife work?

How much are your payments? Are you falling behind?

Does your wife work?
She works and makes probably about a 1k a month.. Just something simple. We have ab 3k of bills a month.. And it's not that I'm falling behind, I just can't seem to get ahead.. And I was just wondering where I'm at financially..

Create a budget (maybe get a copy of Quicken to help). Analyze your expenses on a monthly basis against income. Do this for 3-6 months so that you get a good idea of your expenditures.

If your income is more than your outlay, you are doing OK. If there is room, then you can start developing a savings plan. If its tight, then you can look at reducing expenses. Pay off high interest credit cards, refi your home, etc.