If you have any other skills, put them to use to make some extra money. I am a mechanic, so I use that to my advantage. There is a local junkyard called pull a part. They have really cheap prices on parts. You have to pull them yourself, but thats half the fun. I got like 3 or 4 transmissions from there, rebuilt them, and then sold them on craigslist for a profit. Also, if you know auto parts, then there are parts you can buy there cheap, then turn right around and double your money online (forums or ebay) just cause it saves people from having to go to the JY and get it themselfs. They like being able to click a mouse and buy the part they need.
I am a small engine tech also, so I have bought several used lawn mowers from people who couldnt afford to, or didnt want to fix them. I buy them, fix them, and sell them.
Took me about 2-3 years of this but I saved up enough to buy my smithy with cash.