Congratulations!  You are finally on your way to home ownership!  Now comes the seemingly daunting task of saving up for the initial down payment.  Although this can be a fairly sizable amount of money, there is no reason to be intimidated.  Taken a bit at a time, and with a few wise moves, executed consistently, you will have reached your financial goal before you know it.

Here are 7 things you can do, starting today, to further you down the road towards your deposit goal.

1. Know your goal:  This sounds simple and maybe a bit obvious, but you would be surprised at how many people are shooting at a target they cannot see.  Saving for a home deposit is a big deal and you need to remain motivated.  How much do you need to put away?  Know the number and write it down.  Stick it up where you can see it.
2. Remember the Little Things:  Too often we overlook the enormous impact that the little expenses in our lives have.  That pricey cup of coffee in the morning or your Friday lunch with co-workers all add up to significant expenses when tallied up.  Consider taking your coffee from home, pack your lunches, and turn down the thermostat at home.  The money will add up and you will barely notice the change.
3. Sell, Sell, Sell:  Who doesn’t have at least a few things that they own but just do not use anymore?  Some of us have tons of stuff that just sits around and collects dust.  Consider selling most of your unused or unwanted things.  You might just be surprised at the amount of money you have laying around.  Bonus:  The more you sell, the less you will have to pack and unpack on moving day!
4. Take It Out of Your Pay:  Setup a savings schedule that you can afford and stick to it by having it pulled from your paycheck.  Many, if not most, companies have an option for directly depositing a portion of your paycheck into a savings account.  If you never see it, you can’t be tempted to spend it.
5. Create a Second Income:  Most of us are skilled at a number of things and some of those are worth money to other people.  Whether it is starting some freelance work on the side or getting a part-time job in the evenings and weekends, those extra paydays will grow your savings quickly.  Plus, with less free time, you will have fewer opportunities to spend money.  A win-win!
6. Buy Wisely:  When you do spend money, don’t waste it.  Look for generics and store brands when possible.  Many things like detergent, sauces, and frozen foods are available as “in-house brands” at substantial savings.  The best part is that many times they are the exact same product as the name brand, just boxed differently.
7. Involve Your Spouse:  It is a fairly universal law that within most marriages, there is a spender and there is a saver.  If the spender isn’t reigned in, your savings will be going nowhere fast.  It is difficult to fill a bucket that has a hole in the bottom.

Keep these things in mind, along with some hard work, and financial victory is surely yours.