We're a single income household, while the Mrs is in college. I bought this house when I was young and single, for cheap, but it's the size of a small apartment. I can afford the mortgage even if things go to pot, and I'm flipping burgers. We owe nothing on putting the Mrs through school (she graduates in May, yipee!), we do have some leftover credit card debt from when we were younger, but only a couple of grand now, and we owe on both vehicles (about 2 years each, IIRC). That's it.
I'll go months without buying cigars, and we don't always have steaks in the freezer (yes, I'll still take a bologna sandwich to work for lunch)
It sucks, I hate my lifestyle, and sometimes a $20 item is too much, but I know that in a year or two we'll be in good shape, with no debt, and no paycheck-to-paycheck living, no car payment, and only a mortgage.