To be 17 again....
I have two kids and when I became a dad in 1998 I had to sell everything I had except an old beater acoustic and a couple of cheap ukuleles. And brother, I had a lot of gear.
Anyway, so much comes before things like guitars when you have a family. I don't regret having my kids at all--no way! I just have very minimal gear that is mostly inexpensive but decent stuff.
The good news for you, at least I think so, is that decent, inexpensive gear is easy to acquire these days. The past 10 years especially there has been an explosion of good MIK and MIC and Indonesian-made stuff that is well made.
You don't have to own a Gibson or Martin or Fender to be a musician--even a serious, gigging musician. There are lots of cheaper options.
Also, while the guitar has been responsible for getting me laid from time to time, it's a lot easier to get away and get alone with a lady if you have a car.