Once you have set your mind on buying a home, saving the 20 percent down payment is the first step towards getting there. You do not have to wait for decades to own a home. Here are some quick tips on how to save for the down payment in a few months.

1. Explore the market

If you want to save up money to buy your dream house, first start by taking a tour through a lower-priced neighborhood. When you buy from a low-cost neighborhood, you will not have to save the down payment for a long time. As your equity goes up, you can get a higher-priced home later on.

2. Keep your priorities in check

Although you might be tempted to assume other responsibilities when saving money for the down payment, you should not forget the important roles. For instance, you should remember to pay rent and other utilities in time. You do not want to mess your credit score and fail to get financing for the house.

3. Automate your savings

Create a budget based on your average expenditure and decide how much you will be saving every month. After establishing how much you can afford to save every month, transfer the amount from your checking account to savings. It is always good practice to save before you even get the money at hand. Record all your monthly expenses religiously.

4. Generate more income

If you want to raise the cash more quickly, it is important to engage in other income earning activities. Use your spare time to make more money. You will be surprised at how small proceedings can accumulate quickly.

5. Track your expenses

Before you pull out your wallet to pay for something, ask yourself how much you need it. For instance, if there is free tea at work, why should you buy some from the coffee shop? Although it seems cliché to ask such things, it is this discipline that will get you the down payment.