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First-time buyers could be missing out on saving as much as an extra £147 per month towards first their first home, just by not taking a few simple money-saving steps.

According to Halifax, first-time buyers could save £1,799 a year to put towards a deposit by simply spring cleaning their finances, which could be critical as the bank's survey also shows that almost half of would-be first-time buyers aren't confident of being able to raise a deposit for their first home. Yet many are failing to take advantage of everyday savings which can make a big difference to their deposits.

It's simple things that could hep save thousands every year – and not just for those looking to buy their first home. Those wit debt problems could also heed a little savings advice.

Just by cutting their alcohol consumption by just two pints per week, giving up a latte on the way to work, swapping from bottled to tap water, cutting down on takeaways and cancelling gym membership, you could save £147.37 per month, on average. Furthermore, a smoker who quits a 20 per day habit could more than double this by saving an additional £1,930 over the year, bringing total savings to £3,698.44.

Switching energy suppliers, swapping driving for cycling or walking, and taking advantage of the growing trend for online discount vouchers could also shave even more pounds from their outgoings to help boost their deposit savings.

Jaedon Green, head of mortgage development at Halifax says: "Our research shows that spring cleaning your finances can potentially save first-time buyers thousands each year. By identifying a few simple changes to their everyday routine and saving regularly, first-time buyers can make a big boost to their deposit pot."

SOURCE: Halifax, 15/03/09

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