home-buying-the-low-down-on-no-down-payment-mortgages Start Early Even if you can only set aside $10, do it. Every single dollar towards your down payment will help in the future. The sooner you begin saving, the easier it will be to build up the total sum that you need for your dream home. It may seem far off now, but you’ll thank yourself later for starting early! Create a Separate Savings Account You already have your savings account for things such as bills, groceries, and other consistent costs that you are prepared to cover each month. Creating a savings account specifically for your down payment will allow you to not only separate it from your other finances, but also clearly see the progress you are making. Cut Some Expenses in your Budget Think about how much money you spend per month on unnecessary expenses: going to the fancy gym, buying name brands over generic, eating out instead of cooking, cable, etc. Cutting back on the little things can add up to you being able to achieve your savings goal sooner than expected! How do you determine what are necessary expenses versus unnecessary expenses? Make a list, cross out the things you truly cannot live without, then add up what you are spending on those expenses per month. Need a Side Hustle? Do you have the time for a second job or have a hobby that could make you some extra pocket change? Take advantage of those opportunities. Try walking dogs or pet sitting for neighbors, tutor local kids struggling in school, or check out your local YMCA and see if they are hiring for referees on the weekends. If you don’t have the time for a second job commitment, have a garage sale with some of your neighbors to make some quick cash! Invest If your family is trying to purchase a new home sooner rather than later, consider safe investing to earn interest. Be very cautious about what you are investing your money into since you are hoping to achieve a life goal. Look for investments with low or no risk such as a bank CD, money market, municipal bonds, etc. While none of these will earn you massive amounts of interest, your money will be secure.