Saving for a down payment can be a daunting task for many, but with
these 9 strategies, you'll be able to put your money down in no time!1. Create a Budget.
See where your money goes and what areas you can cut back and divert money into savings. 2. Organize.
Sell things you no longer need or won't be a good fit forÂ your new
home. A clutter-free organized home is a time saving home and time is
money.3.Â Create and Follow a Routine
money deducted from your income, before you have a chance to spend
it,Â and deposited in a savings account with the highest possible
interest rate.Â Research around for Federal Deposit Insurance Corporation
(FDIC) insured savings, certificates of deposit (CDs), money market
funds, and other savings or investment vehicles.Â 4.Â Hoard Windfalls.
Â SaveÂ any
and all extra income including: tax refunds, holiday cashÂ gifts, small
lottery winnings andn other forms of unexpected money.
Â 5. Withhold Less.
If you do get a tax refund, it may be time to adjust the money withheld
from your paycheck. A tax refund is a free loan to the government. It
costs you lost interest it could have earned in a savings account.
Adjust your W-4 accurately to reflect your true tax liability. Use the
Internal Revenue Service's withholding calculator
to get it right.Â 6. Cut Back
Resist temptation and reduce spending onÂ eating out, buyingÂ clothing,
gifts and Â gasoline. Instead, try buying generic brands, brewing your
own coffee, or getting a better cell phone and cable TV plan.7.Â Dump Credit
Don't spend money you don't have and save credit for emergencies
only.Â Pay off debt. Reducing credit debt gives you money to save and it
can boost your credit score.8.Â Liquidate Assets
Try selling things you no longer need and/or use. Items tucked away in
your garage or attic may be worth more than you'd expect and saving for a
home, may be just the reason to sell them.9.Â Get a Second Job.
working just a few extra hours a day can earn you a fewÂ hundredÂ dollars
a month. Think about working overtime during holidays or finding an
additional source of income solely for the purpose of saving for your