Keep up the good work. You can’t help the past, but only adjust your results in the future.

I come not from a poor family, but from a very poorly managed finances family, and I don’t want to go down the path that my mom did. She’s still trying to save for a down payment today, and had never saved anything for my college education. I learned from her bad example and I’m trying to max out my savings ASAP.

It’s very inspiring to read what you’ve accomplished at your age, especially when you’re practically my age. Thanks for the great posts!

We were very blessed by my parents who had saved up a nice chunk of money for us as a start on a down payment. We lived in an apartment and just saved our money as fast as we could to help increase what they had given us.

I think most people buy a house while they are still in debt because they don’t know better.

I would encourage you to build up the emergency fund you are comfortable with (note we are at 3 months, not 6, for now). Once you’ve got that built up (and hopefully paid off your debt) you should have a lot of extra cash each month to save up for a house.

I do have a question for you, and possibly also for Scott. You have a house, Kevin, right? I think I remember reading that, and also that you’re 23 (please correct me if I’m wrong). I’m also 23, have a well paying job, but I’m many years off from having a down payment for a house.

That said, I’m in Southern California (this is where Scott comes in). Scott, how did you get up your down payment before you were able to save 6 months EF?

I’m trying to tackle both of these goals at once, but I’m just amazed at how fast some people are able to save down payments, although of course I have no idea how much their houses cost or how much of a down payment they paid. Almost every PF blog I read, the writer had tons of consumer debt yet bought a house…that boggles my mind.

@Scott: I can imagine living in California makes it that much harder. And ouch, ouch, ouch with the emergencies for the house. $12k?! Keep it up though — one foot in front of the other.

When my wife and I were first married, we saved nothing. It took several years to build up a savings account and almost a decade to create 6 months of reserve. Living in California is very expensive and we sleep better having that 6 month cushion for unknown hardships. And we have had our share. This year is was a gas leak and a new HVAC system for the house. Total cost was $12,000

I’m close to building up my e-fund as well. Just one more paycheck.