That is a great example and glad you were able to see that growing up. As a personal example, I just received a small raise and increased my savings from 10% to 11%. Small numbers, but over time that should really help my retirement savings.

FrankN wrote: Paying yourself first and opening a separate account can be a great way to help save. My wife just did this and every paycheck she receives, she automatically puts 5% into her savings account. That way you never see it and over time this will grow.

This is something that I remember my mom doing when I was growing up. She would have so much money taken out of her check each time she got paid and that way they always had money in their savings account for emergencies. I think it's better to do it this way because you don't miss that money.

I need to get my husband to do this with the money he spends on convenience store junk. He spends the majority of the day in his truck and even though I send him with lunch and snacks, he can't resist stopping for unnecessary extras. I think it's out of boredom and I understand that, but he shouldn't be wasting money in convenience stores.

I would love to hear what the answers were to those questions.

Wow ... you want to shock all of us? Good idea on how to get us to realize what is really going on in our financial lives. This month I should have all debts paid but a car loan of $10K. Sure killed my Fico Score but I wanted to see zeros in my accounts for the balance due!

One thing I am trying is to get my children ( who are in their 30's now ) is to think hard about saving . Told them to list out all creditors they owe, things spent on a daily basis and subtract it from their net monthly income. Sometimes when you look at like this and you find out what you have left you ask yourself " where is this excess money going ? " I always tell them , " 35 becomes 41 and before you know it 41 becomes 46 " and you ask yourself how much have you put back over the years ?

amieestahl wrote: I find it nearly impossible to save money. Whenever things look optimistic it kind of slides downhill. I finally opened a separate account, specifically for saving. I'm really hoping that I can slowly build it up.

I admit that I kind of forcing myself to save, otherwise I can always find reasons to use it elsewhere. It can be frustrating at times, true. Do you live with someone else? Maybe you can review the financial plan together so everyone can save more.

Paying yourself first and opening a separate account can be a great way to help save. My wife just did this and every paycheck she receives, she automatically puts 5% into her savings account. That way you never see it and over time this will grow.

I find it nearly impossible to save money. Whenever things look optimistic it kind of slides downhill. I finally opened a separate account, specifically for saving. I'm really hoping that I can slowly build it up.

Thanks, Wanderer, I definitely will! It doesn't hurt to ask, right? I would just consider it as one more option of shopping around for the best rate.

Before you decide you can't do it contact USDA or check on their website. You never know as rules do change.

Curry wrote:

FrugalFran wrote: Wanderer, are the Rural Development Loans only applicable when buying an existing house or can it be used to buy raw land as well? I'd be interested in looking into that, but we're looking to buy land and then build a house on it.

I don't think that is what those loans are set up to do. Buying empty land is dirt cheap (excuse the play on words), but building your own home and taking care of all the peripherals involved with that is not. If you can afford to build your own and pay for the structures needed to make the house functional, you have the money to buy land. That's their reasoning.

Thanks, Curry, that's pretty much what I was thinking. We do have the money to make it happen, but I was thinking more along the lines of maybe getting a better rate with a RDL. We're looking in a very rural area with an extremely low population, so I was just curious if it would be feasible, but I agree with you that's it's probably not an option.

FrugalFran wrote: Wanderer, are the Rural Development Loans only applicable when buying an existing house or can it be used to buy raw land as well? I'd be interested in looking into that, but we're looking to buy land and then build a house on it.

I don't think that is what those loans are set up to do. Buying empty land is dirt cheap (excuse the play on words), but building your own home and taking care of all the peripherals involved with that is not. If you can afford to build your own and pay for the structures needed to make the house functional, you have the money to buy land. That's their reasoning.

Unfortunately I do not have any knowledge. You may be able to search the USDA Rural Development on the web and see what they say.

Wanderer, are the Rural Development Loans only applicable when buying an existing house or can it be used to buy raw land as well? I'd be interested in looking into that, but we're looking to buy land and then build a house on it.