Sell the Cars, Keep Your Dignity

Swapping debt-laden new cars for a couple of decent, paid-for used cars would lift a heavy financial burden.YAKOBCHUK VIACHESLAV/Shutterstock

Dear Dave,

My wife and I are in our late 20s, and we have two kids. Our combined income is about $110,000 a year, but we have $70,000 in loans on two cars, plus about $15,000 in credit card debt. My in-laws have offered to let us move in with them to save money and make things easier while we pay down debt. Do you think this is a good idea?