Brandon Thibodeaux for msnbc.com
Samuel and Megan Moss stand in their kitchen with their 10-month-old daughter, Mary Margaret, at their apartment in Plano, Texas.
With careful budgeting, Sam and Megan Moss are able to get by on their combined salaries of about $50,000 a year.
But the couple is weighed down by around $110,000 in student loan debt that Sam, now 28, accrued while they were students at University of Mississippi.
Megan, 25, says they don’t want their 10-month-old daughter, Mary Margaret, to be burdened by such high debt when she goes to college. That’s one reason the Plano, Texas, couple is unsure whether they will have more children.
“I would love for her to have siblings … but I don’t see us being able to afford it,” Megan said.
Megan works full-time in sales for a hotel company, while Sam is in the mortgage industry.
What’s it like to live on around $50,000 a year?
It is a challenge. It definitely takes planning and budgeting to make everything work.
How has the weak economy affected your finances?
We have been affected simply through the rising cost of living. Everything is more expensive, from gas to groceries to utilities.
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