*EDIT* Do you think a family of 3 can live off of $5,000 a month?

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Dh and I both work full time jobs, i'll be quitting in January to be a SAHM and part time student. We have a mortgage, and a $200 monthly car payment.
Do you think it's possible? Have you done it? I want to continue my education, but I dont want to put my family in a bad spot. I am scared.
I don't understand why everyone has to be so rude....
I guess my main concern is my baby isn't born yet. I don't want to underestimate the cost of raising a child. Chill out, meanies.
Yes. This is $5,000 after taxes.
No, we do not have debt.
We live in New Mexico. Cost of living isn't too crazy here.

Of course it is (depending on where you live).
We went for a period of time, a hard period but never the less, as a family of 5 living on $1,200/mo.
It's hard but doable if you plan right :)




Where we live we could easily live on that comfortably.