The dream of homeownership is attainable if you go about it the right way and formulate a plan that allows you to get your foot on the property ladder.

One of the main stumbling blocks is having enough money put aside as a down payment and that is where you need to develop some strategies that will help you to get the cash you need.

You could draw some inspiration for a site like journeytobillions when you are looking or money-making ideas and here are some suggestions that you might find useful as well.

Set your target

Rather than just trying to accumulate as much money as possible it makes sense to work out how much you need and use that target as a motivation for getting there as quickly as you can.

If you can save 20% of the purchase price that will put you in a strong position to get the best finance deal, so work out what that figure comes to, and even if you fall short, having 10%-15% is still a great down payment.

Keep your savings separate

You need to open a savings account so that you can keep your down payment cash away from your regular money.

It also helps to see the value of your savings growing and will motivate you to put more money in.

Get rid of your expensive habits

You can free up spare cash by ditching some expensive habits such as buying a coffee every day and aim to pay cash for things rather than use a credit card as borrowing money will harm your efforts to save for a down payment.

Realistic targets

It is often better to set a series of mini-targets along the way as this encourages you to continue when you manage to hit numbers that are more manageable.

Set a monthly budget

Create a monthly budget in order to see where your cash is going and where you can make cutbacks that can be diverted into your savings.

Rounding up works

Every little helps, and if you set up an automated savings plan you can transfer regular small amounts that round up to the nearest dollar.

These small sums of money can make a big difference and you won’t notice them either.

Prudence pays

You have got to live a little while saving so it is fine to have some treats. However, a good tip would be to wait for at least 24-hours before making an irregular purchase such as new clothes.

Waiting to see if you still want something after a day or so tends to make you more prudent with your spending and frees up more cash for savings.

Make lists

It is easy to get carried away when shopping and spend more than intended. A good way to avoid that scenario would be to make a list before you leave the house and stick to it.

Boost your earnings

Many people have a side hustle these days and whether it is driving a part-time cab or starting a small business venture that you can run in your spare time these are all great ways to boost your earnings and get you to your savings target quicker.

Stay at home to save more cash

We all need a chance to unwind but vacation costs can really hinder your efforts to save for a down payment.

Even if you skip having a vacation for one year that is money that you can put into your savings instead.

If you try a combination of these ideas and strategies it should help you to achieve your dream of buying a property once you have enough for a down payment.