I've been through this a couple of times, and getting ready to do it again. One thing to remember is that you'll pay less taxes. Also, I lower contributions to 401Ks and/or IRAs. The result is that the cut in take home pay is not quite as dramatic as the gross pay cut as seen on your W2.

I do not tap retirement accounts. I have in the past accumulated some credit card debt during the probationary year (I pay those off monthly now). If you do this, just make sure you discipline yourself to pay it off quickly when you get your pay raise. This time, I may tap my home equity line of credit if necessary, rather than using credit cards. This wasn't an option in the past.

The bottom line is to try to live within your means. I'm still driving a 12 year old pickup truck, living in a 1300 sq. ft. house, and drinking cheap beer.

Luckily, this time the pay cut won't be as severe as before. I don't anticipate having much or debt to pay off come this time next year.

The simple answer, don't live liek you make $90,000 a year. But, that advise is probrably 5-8 years too late. Sorry.

Or work at a TP regional and you will not have to worry about making 90k per year; Horizon aside.