When people decide they want to save money for down payment to buy their own home or they just want to get ahead financially, most choose one of two strategies:

1. They look for new ways to earn more money
2. They review and lower their expenses and save the rest

How to Lower Your Expenses and Maximize Your Savings

There are numerous saving options to consider and implement if you want to start saving for a new home:

1. Move back home (to your parents or in-laws).
2. Move to a less expensive area or change your rental for cheeper, smaller and more affordable one. If your plan involves moving to a different area, make sure commuting costs are calculated in before you decide to change location.
3. Sell your car and use public transportation and/or bike. You will be surprised how much you can save when you don't have to pay for car insurance, parking, gas, repair and car payments (if you have them). You will still have annual cost of a public transportation pass and occasional car rental cost, but that is just fraction compared to annual car cost.
4. Limit your spendings at food-courts, restaurants and bars. Prepare yor food at home, use leftovers for lunch, stock your fridge with drinks you like and have only occasional visits to bars. This is not fun, but think how much of your savings will go directly into your house down payment fund.
5. Reduce grooming and clothing expenses and utilize what you have. With a little effort you can look good without high expenses.
6. Tune down your vacations. Go camping or stay at home and visit some local areas instead of spending couple thousands on Caribbean or some other more expensive vacation.
7. Cut in half or limit your spendings on birthday and holiday gifts. If crafting is something you can do, make something personal for people on your list. Use your imagination, shop early and try to find items on sale for gifts.
8. Cut your spendings on non essential utility cost and other perpetual payments. Review each service and decide what you can live without. Start with cable or satellite television, smartphone plans, gym and other club memberships, unnecessary banking fees, newspaper and magazine subscriptions etc.
9. Lower your essential utility costs like electricity, heating and cooling (unplug all unused electrical devices, install a programmable thermostat, install led lights, lower the temperature on your hot water heater, lower the temperature in your home during the cold months, increase the temperature in your home during the warm months etc.)
10. Earn more money. Look for ways to earn more money like picking up overtime, getting a part-time job, asking for raise at work or start a side-income business.