With a recent report showing that there is a growing gap between the wealth of seniors and those in their twenties, the prospect of saving for a down payment for young first-time buyers is more daunting than ever.

Assuming the whole amount isn’t available from a relative with spare cash available, there will be some tough choices to make to free up money for saving.

Simple things though, like making your own lunch instead of eating out could save over $1000 and ditching the car in favor of the bus could add an extra $3,500 to your down payment fund. The biggest single saving suggested may be too much for some though, moving back home with parents or in-laws to save over $7000.

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