I've spent a long time paying off my debt from University so from my own experience I know what a weight it is. Starting a startup solely for the money is real

I've spent a long time paying off my debt from University so from my own experience I know what a weight it is. Starting a startup solely for the money is really putting yourself under huge pressure to succeed, - the majority of startups fail regardless so you're setting yourself up for a fall if you pin all your hopes on making it big first time round. You also won't be able to afford to take up opportunities that might help traction for your startup and that can be very frustrating. It sucks bad enough when your startup fails even when you aren't counting on it for your living expenses never mind when you need it to repay debt too! Every decision you would make in the business would be based on 'what brings in money now' and that isn't always the best decision longer term. My suggestions are :- 1)Start income based repayments on the student loans 2) List out your other debts, get exact balances & know your APR for each. 3) If you are mentally & physically ready you & your wife should both search for some form of guaranteed income, min of $25k each (even if it's part time) The debt belongs to both of you so it should be tackled together. 4)Use the snowball method to clear your non-student loan debts. 5) Your current living expenses are $4100 pcm or $49200 p/a, so even if you earned $100k between you, that would give an extra $50k p/a to reduce your debts down year on year. 6) Allow your creativity to run free and pursue your own ideas in the evening/weekends. Test out lots of ideas (for free) 7) Hold onto your guaranteed income & let your startup grow naturally. 8) Find ways to reduce your debt (0% cards etc) & up your income (freelance work) Worst case scenario it takes 8-10 years to clear your debt but you DO get there. Best case scenario you find higher paid jobs, you earn income from your startup and it transitions into a full time role for you. Debts are paid off in in a fraction of that time. If you go straight into trying to think up a startup full-time you're not even guaranteed it will be clear in 10 years. Debt will probably just carry on going up! At least with the worst case scenario you will be clear in a reasonable time frame & a successful startup bring your debt free date nearer and nearer. When side projects aren't working out and you're having a bad day it feels way more personal if you need that money to live. Starting a startup should be fun. Needing the cash, takes that fun away. I know it feels like you need some kind of miracle to get out of debt but it all starts with a single dollar.