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?

Quote:

---

Originally Posted by Wondergirl

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.