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Only you can figure that out. I would tally up your total static payments each month that you have currently (ie utilities, car payments, mortgage/rent, school loans etc.) Pretty much anything that you absolutely HAVE to pay each month. Factor add in anything that can be cancelled (like cable/internet). These are extra funds that you could get back if you absolutely needed to. Anything else is spending cash. If you feel that you can live comfortably while still making payments on all of the essential stuff, then you'll be ok. If you are spending more each month, then you will have to change some spending habits. If you absolutely can't afford it, then you'll know.
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