It can be a challenge, more so in some countries than in others. (My experience is in Europe - the salaries are lower, but so are costs).
I don't know if this is a hopeful message, but there are quiet some developers who don't work any overtime and don't keep up with a lot of languages and development, and who still manage to add value and keep their jobs :-)
Maybe it's weird that I'm saying this. Personally I'm kind of obsessive about programming so I try to read too much and spend a lot of spare time on it. But I hear it's possible to have a life on the side :-)