<prompt> Human: Hi all, I make 110k before bonuses annually. I support my wife and three children. Our monthly bills are eating into our meager savings. Small expenses keep wrecking us each month medical bills, car repair, dog ate five pairs of kids shoes, etc Im about 65k in debt with vehicle loans and personal loans. We pay roughly 2000 per month on these loans. This does not include the mortgage. Im looking at taking out a 2nd mortgage to pay off the vehicle loans and part of the personal loan. 33k 15 years. Then take an additional personal loan at better rates to reduce the monthly payment. 32k 5 years.This will free up an extra 1000 per month, but extend our debtinterest an additional 10 years. If we dont have crazy expenses each month, the excess can be used to pay this debt off quicker, and give us the flexibility Incase of an emergency. Good plan? Bad plan? We would like to be debt free in 5 years minus the mortgage. Lots of bad decisions put us in this place. Looking for an evac plan that lets me still pay my bills. We have no credit card debt.Thanks!EDIT: phrasing and CC debt info.EDIT 2: I took everyones advice and redid our budget. We incurred a few new expenses recently and Im exceeding our monthly budget by about 400 every month. Which is contributing to the pains. swapping out the vehicles isnt ideal, one is for my work and I make back pretty significant returns on the 52 cents per mile work pays as its a prius, the other is an older model Honda odyssey to cart the kids around. We are bringing in about 6148 on my income, and my wife usually makes up the difference with Uber and other side jobs. Conclusion, Im going to reduce our spending on groceries 80, cell phone 50, and shopping100. Im going to look into cheaper insurance options and home insurance 50??. We going to move forward on the 2nd mortgage and with the appraisal that will be done we can drop our PMI which is an additional 94. We are debating removing the smallest kiddos from preschool as well, or reducing their days. which could cut out a pretty big chunk of the monthly budget. Appreciate everyone making me do the YNAB app, I Had not looked at what we were spending in awhile, and I am glad I did!  <response>: Well, if you are able to refi those debts and free up 1Kmonth, would you actually be able to save? Or would that become spending money? If its truly an extra 1K, you could start splitting it between savings and accelerating your loan payments to get those paid off faster. Once you see those balances start to drop, you may decide that its more important to get those debts paid off faster. Just my 0.02 