<prompt> Human: Our household: 3 persons: 2 adults, 1 child 10.Our debts: Credit card 1: 750 Made first avalanche in April, will be paid off in June, 2013. Credit Card 2: 3400 Begin avalanche in June, will be paid off in Sept, as Avalanche will double in June Credit Card 3: 1800 No interest, begin Avalanche in Oct, will be paid off Nov, 2013 Car 1: Mazda CX-7, owe 11k. I work from home and put less than 7k miles on it per year. I fill it up every 6-8wks. Car 2: Honda Accord, owe 9.5k. Drives a lot every week, but will cut by 23 at new job. Student loan debt: 26k, combined. House: Owe 168,000. Condo: Owe 105k. Currently renting out, but rent does not cover mortgageHOAs. Need to get rid of this, but severely upside down.Income: Combined: 5,975 net, includes salaries, rent from condo, child support, and side jobs 300. Projected Income after pay cut: 4975Minimum non-negotiable payments: House: 1210 Condo: 750 Condo HOA: 170 Car 1: 400 Car 2: 210 Minimum CCs combined: 150 Student Loans combined: 345 Insurance: 125for a total of 3,360. Negotiable expenses: Utilities: 300 Food: 500 Gas: 250for a total of 4410. I started making avalanche payments in April of an extra 427 towards debt. After an emergency trip to assist family in May, we would be able to double that avalanche on top of minimums to 850 in June and still have a cushion for savings. With the pay cut we would have no room for savings or would be in debt longer than I wanted. According to the current avalanche schedule wed have the cards and cars payed off in Nov2014. I explained to my wife that if she could just keep her job another year and a half that we could have the cards and cars payed off according to the avalanche schedule but she is so desperate to get out of her job that she will do anything. Even take a 12kyr pay cut. What do you think PF? Can we do it and still get debt free?I have a feeling folks are going to tell me to ditch the Mazda. This car and I have a lovehate relationship. It was purchased in 1009 and only has 25k miles on it. Its practically brand new, but the payment is outrageous. EDIT: We have an emergency fund of 1,300, but would like to get that up around 2,000. We both contribute to 401ks and I have an HSA that I contribute to.EDIT 2: We have listed the car for sale and my brother a master car dealer has a friend at a dealership that said he would cut us a check for the car for 19k. We are strongly considering it. My wife wants all of you to know she loves those Reddit people, except those that said she couldnt have a baby this year. She hates just those people.Assistant: You seem to be unhappy with the idea of maintaining your debt burden, but you really should consider your spouses potential unhappiness in her current job situation too. If her current job is truly awful for her there should be some give and take here. Maybe she can put off the start date for a month or two while you both significantly cut down on your food and entertainment expenditures? As far as the Mazda is concerned you could get rid of that and buy a much cheaper 4-5 car for your occasional driving needs. The rest of the sales proceeds could go toward some of that C.C. debt andor an emergency fund. Its just a Mazda crossover so its not like its a car worth getting emotionally attached to. Also consider whether your wife might be able to negotiate a starting bonus.You also need to do some thinking about the condo. How underwater are you? Could you do a short sale? Since you already own your home if you can continue living there for several years your credit would have time to recover from a short sale or even a strategic foreclosure. What are the interest rates on the credit cards? If the rates are above 5-6 it might even be worth forgoing some retirement savings to pay down that debt as the interest could be higher than your potential earnings.If your spouse is cutting her commute by 23 your car insurance should go down as well.Honestly even with the paycut you still have room to live without making any lifestyle changes. Human: Thank you for the seeing both sides. I know my wife is miserable. I want her to be happy. She also wants to have a baby this year and I cant see that happening taking a new job. I know its just a Mazda crossover. And while its crazy to get attached to cars I am the type of person that does. The condo was purchased for 111k in 09 and I was living there alone with my daughter. Values have dipped and they are now selling for around 75k. Our renter pays 825month which increases to 850 in June. I morally cannot let the condo go. I would feel terrible about it and my parents would be sick with me. CC 1 is my wifes. It is 14, CC2 is shared, its at 7. CC3 is shared. Its 0 until Nov 2014.  <response>: I am a car and bike guy too and I fully agree with the people who are telling you to ditch the car. There are awesome vehicles out there that wont put you 400 in the hole every month. You sound really frustrated with your lifestyle and I get that, but you will have so much more flexibility once you get out of debt. Are you receiving a match for your 401k contributions? If not, Id say cancel them and pay off debt for awhile. It shouldnt take you long. Also look into a refi for the condo, most lenders are in trouble with the DOJ right now for their pre-bubble lending habits and offer no-cost in-house refinances. We did one with Chase. 