<prompt> Human: Used the wrong title, fiancé is suppose to only have one E. To clarify, I am the one pregnant at 21 and he is 29. Im really not sure what to say, so I guess Ill just start stating numbers. If this isnt enough information to make a judgement, let me know. Debt: 40k student loans from both of us, with 20k car debt on our lines of credits. Income: 55k annuallyTotal Expenses: 2 560month; 30 720year budgeted for worse case scenarioAt this point in time, we basically have been putting all our excess money into our debt payments, but with a baby on the way, I feel like we are going to be drowning in debt for life. Side note: We are also planning to get married November 2018, not sure if thats realistic anymore though. Are we as screwed as we think we are... Edit: An abortion is very highly being considered, but it is more of a last case scenario. I came here for financial advice though, I dont have an interest in hearing what I should do with my body. However, I do understand that for the babies sake, that might be the best option. Edit: Ill add a little bit of a story because people keep asking and stating the same things. We are a Canadian couple. I am 21 years old, and he is 29. We are both recently graduated from university as of April yes, he did go to school very late in life. Selling our car in not an option as the reason we bought a newer three year old model was because our last three beaters died within two years, and we wanted more stability. We have a child care situation basically figured out, as I work for a daycare, and know many cheap daycare providers that we could sign with. Marriage is sort of insignificant at this point. We already were planning on getting married with a 5000 budget, but now we are more likely going to elope privately to save the money and time, and do a celebration when we can afford it. We are looking into second jobs with or without a baby in order to tackle this debt more. My FHs income will be steadily increasing while at the company he is currently at, something that his bosses have told him since the start. He has already received two raises during his first three months. My main question: If we bring a baby into the world with 100k debt, are we completely screwed debt wise? Full Budget Rent 1100 Internet 50 Cell Phones 170 Car Payments 245 Car Insurance 180 Car MaintenanceGas 120 Groceries 275 Interest on Debt 230 Entertainment 50 Health Expenses 25 Back Service Charges 25 RRSP Payments 20 Misc 50 Total Expenses: 2 560Assistant: It is likely that getting legally married before the baby is born is the smartest move. This does depend on the exact laws in your country, but in most countries it recognizes the man as the father automatically without needing to pay for extra administration fees to have him recognized as the father, and it often also gives access to more tax benefits. Legal marriage does not mean that you need a big party. Legal marriage can be free in some countries and on some days of the week, or it can cost for example 50 for the administrative costs. You two can consider getting legally married, and then having a wedding ceremony and party whenever you have time and money for that. Human: I didnt even think about this. Thanks for pointing it out! I believe in Canada it does recognize the dad automatically, but better safe than sorry, right. We talked a lot before I got pregnant about having just a town hall wedding with a big celebration down the road when we can afford our dream wedding, so Im sure hell have no problem with it if I bring it up.  <response>: This is what a friend of mine and her husband did when 1 came unexpectedly. They were both 19 at the time and still in college. They had a very basic courthouse marriage before she started to show too much, and then held a much more lavish ceremony a few years later to renew their vows once they graduated - and their little baby girl toddled down the aisle as their flower girl. It was hard. It was really really hard for them. They couldnt afford a babysitter and they both wanted to stay in school, so they carefully arranged classes so that someone always had the baby, and both also juggled part time jobs with flexible schedules to help cover costs. Their parents threw the formal wedding as their college graduation present; it still wasnt a huge to-do but it was the fairy tale wedding the bride had always dreamed of with a white dress and a church full of people and a reception.Theyve now been happily married for 14 years and have three kids total. The eldest is 13 and in middle school. 