Purchasing a home is one of those milestones many hope to achieve in their lifetime. Not an easy feat, the process of saving for a down payment can be trying. We may assume it is necessary to resort to a stripped lifestyle, in order to save a big chunk of change but such is not the case. It's likely, you don’t have to lay out as much money as you may think. Depending on the loan types you qualify for, you could buy a home with as little as between 3% and 5% down for a primary property. Taking a closer look at our everyday habits and making minor adjustments can help us accumulate the cash to put down on the purchase of a home.

1. Start With Automatic Savings

It may seem easy to begin saving towards a goal but making it a habit is the hardest part. If only there were a way to save without thinking about it . . . luckily there is! Most banking institutions allow you to set up automatic transfers from your checking to your savings account. Set a goal of the amount you would like to save each workweek towards your down payment. Have this amount deducted from your checking account and deposited into your savings at the beginning of each pay period so that these funds cannot be spent.

2.  Nickname Savings Accounts

It doesn’t get much easier than this one.  Using specific nicknames for different savings accounts can help you visualize what you are working towards.  That way, each time you log into your bank account it will be right there staring you in the face. . . “First Home”, “New Car” whatever you choose.  Labeling accounts with tangible items will help keep you inspired and make it easier for you to stash away your hard earned money.

3.  Negotiate Your Bills

So this tip can be tricky. Take a look at your monthly bills.  Where do you have some wiggle room when it comes to negotiating?  Some items are written in stone but others such as cable, phone service, and bank interest rates can often be improved upon.  Make a few phone calls to see what your options are. Often times, companies will work with their customers in order to retain their business.  It doesn’t hurt to ask!  In terms of cable, you could even take this a step further and cut the cord.  If your up for it, opt for a television streaming service and pay substantially less each month.

3. Ditch Cable

That leads us to our next tips. . . If you’re not thinking about it already, considering joining the growing ranks of consumers who have “cut the cord” and are now getting their favorite TV shows, movies and even live sports through the internet and streaming services. Making the change can be in your wallet's best interest and drastically decrease your monthly bill. Be diligent to put these savings away each month to use towards your down payment.

3.  Get Up Earlier

Convenience is costly, that’s a fact.  Waking up last minute can cost you all sorts of unnecessary cash.  You may be forced to grab coffee at the store or buy your lunch and send your kids to school with lunch money.  Waking up earlier can save you lots!  You’ll have time to make your own meals as well as get a jog or workout in - helping you save on a pricey gym membership.  If possible, try biking or walking to work and save on gas! With time to plan your day, you can avoid last-minute purchases that add up and drain your funds ultimately undermining your savings goal.

5. De-Clutter

Clutter is costing you and you may not even realize it.  Having too many items makes it difficult to find and utilize the things we do have.  Freeing yourself of unnecessary stuff can prevent you from rebuying items you already have, free up space, decrease stress and help you earn some extra cash!  There are several apps one can download that allow you to sell these unwanted items in minutes or try a good old fashioned garage sale.  You can also use social media markets to advertise the items you’d like to get rid of.  Try not to add to your clutter - but these apps and social media marketplaces provide highly discounted options to purchase items you may need as well.

The thought of saving a huge amount of money for a down payment may sound like an insurmountable challenge but implementing a few of the above changes is sure to help you and your family grow your savings to use for a down payment.