How to Save Money Fast: 10 Ways to Build Savings Quickly

When You Need to Save Money Fast

Sometimes, saving slowly isn’t an option.

Maybe you need $1,000 for an emergency fund. Maybe you’re saving for a security deposit on a new apartment. Maybe you just realized you have zero financial cushion and that terrifies you.

Whatever your reason, you need to save money fast.

The good news? It’s absolutely possible. The strategies in this guide have helped people save $1,000-$5,000 in just 30-90 days—even on modest incomes.

But here’s the catch: fast saving requires temporary sacrifice. You won’t be doing all of this forever. Think of it as a “financial sprint” to reach a specific goal.

Ready? Let’s go.

Why Building Savings Quickly Matters

Before diving into the “how,” let’s talk about the “why.”

The Real Cost of Having No Savings

When you have no savings and an emergency hits, you have two options:

Borrow money — Credit cards, personal loans, payday loans (all with interest)
Go without — Skip rent, delay medical care, let your car stay broken

Both options make your situation worse. A $500 car repair becomes a $700 debt. A small problem snowballs into a crisis.

The Psychological Benefit

Beyond the practical, there’s a psychological benefit to having savings. When you know you have a financial cushion:

Stress decreases significantly
You make better decisions (not desperate ones)
You sleep better at night

Studies show that even having just $500 in savings dramatically reduces financial anxiety.

Is This Guide for You?

These strategies are designed for people who:

✅ Need to build an emergency fund from zero
✅ Have a specific savings goal with a deadline
✅ Are willing to make temporary sacrifices
✅ Want practical, actionable steps (not vague advice)

If you’re looking for slow-and-steady saving tips, check out our general saving money tips instead. This guide is for people who need results now.

10 Ways to Save Money Fast

1. Do a “No-Spend Challenge”

For 30 days, spend money only on absolute necessities: rent, utilities, basic groceries, transportation to work. That’s it.

No eating out. No entertainment purchases. No new clothes. No Amazon orders.

Expected savings: $300-$800/month depending on your current spending

This is extreme, but it’s temporary. Think of it as a “reset” for your spending habits.

2. Sell Stuff You Don’t Need

Look around your home. You’re probably sitting on hundreds (maybe thousands) of dollars worth of stuff you don’t use.

Where to sell:

Facebook Marketplace (furniture, electronics)
eBay (collectibles, specialty items)
Poshmark/ThredUp (clothing)
Decluttr (phones, tech)

Quick wins to sell:

Old phones and tablets
Unused exercise equipment
Clothes you haven’t worn in a year
Books, games, DVDs
Furniture you don’t love

Expected savings: $200-$2,000 (one-time)

3. Cut the “Big 3” Expenses Temporarily

The three biggest expenses for most people are:

Housing — Can you get a roommate? Rent a spare room on Airbnb?
Transportation — Can you take public transit? Carpool? Bike?
Food — Can you meal prep? Cut eating out to zero?

Reducing even one of these by 20-30% has a massive impact.

Expected savings: $200-$500/month

4. Pick Up a Side Hustle

If cutting expenses isn’t enough, increase income temporarily.

Quick side hustles:

Food delivery (DoorDash, UberEats)
Rideshare driving (Uber, Lyft)
Freelance work (Upwork, Fiverr)
Pet sitting (Rover)
Tutoring
Overtime at your current job

Even 10-15 extra hours per week at $15-20/hour adds $600-$1,200/month.

Expected savings: $500-$1,500/month

5. Pause All Subscriptions

Cancel or pause every single subscription for 90 days:

Streaming services (Netflix, Hulu, Spotify)
Gym membership
Subscription boxes
Magazine/news subscriptions
App subscriptions

Most can be reactivated later. The average person saves $100-$200/month.

Expected savings: $100-$300/month

6. Use the “Savings Sprint” Method

Here’s a powerful technique:

Set a specific goal (e.g., $1,000 emergency fund)
Set a deadline (e.g., 60 days)
Calculate the daily amount ($1,000 ÷ 60 = $16.67/day)
Transfer that amount every single day

Daily transfers feel smaller than one big monthly transfer. And the daily habit keeps your goal top of mind.

Pro tip: Set up automatic daily transfers if your bank allows it.

7. Negotiate and Switch Bills

Call every company you pay monthly and ask for a better rate:

Internet provider
Phone plan
Insurance (car, renters, health)
Credit card (ask for lower interest rate)

Also, shop around and switch if you find better deals.

Expected savings: $50-$200/month (ongoing)

8. Implement “Cash-Only” Mode

For discretionary spending, withdraw a fixed amount of cash each week. When it’s gone, you’re done spending.

The physical act of handing over cash triggers loss aversion in your brain, making you naturally spend less.

Expected savings: 15-30% reduction in discretionary spending

9. Take on a “Monk Month”

For one month, live like a monk:

No alcohol
No restaurants
No entertainment purchases
No driving (walk, bike, bus)
Cook every meal from scratch
Use only what you already own

This is intense, but the results are dramatic. Many people save 40-60% of their income during a monk month.

Expected savings: $500-$2,000 (one month)

10. Redirect Windfalls Instantly

Any unexpected money goes straight to savings:

Tax refunds
Work bonuses
Cash gifts
Rebates
Money from selling items

Don’t let windfall money sit in your checking account where it’ll get spent. Transfer it to savings within 24 hours.

Expected savings: Variable (but don’t waste these opportunities)

Create Your Fast-Saving Plan

Here’s how to put this together:

Step 1: Set Your Goal

Be specific. “$1,500 emergency fund in 60 days” is better than “save more money.”

Step 2: Calculate the Gap

If your goal is $1,500 in 60 days, you need $25/day or $750/month.

Step 3: Pick Your Strategies

Choose 3-4 strategies from above that fit your situation. For example:

No-spend challenge: $400
Sell unused items: $300
Cancel subscriptions: $100
Total: $800/month

Step 4: Track Daily

Check your progress every single day during your savings sprint. Momentum matters.

Step 5: Celebrate (Frugally)

When you hit your goal, celebrate! Just don’t spend your savings doing it.

Frequently Asked Questions

What is the fastest way to save $1,000?

The fastest way is usually a combination of a “no-spend” challenge for 30 days and selling unused electronics or furniture. Many people can hit this goal in under a month with extreme focus.

Is it possible to save money on a low income?

Yes. Focus on the “big three” expenses: housing, food, and transportation. Even small changes here (like cooking at home or carpooling) free up more cash than cutting small luxuries like coffee.

How can I make extra money fast?

Gig economy apps like DoorDash or TaskRabbit pay quickly. Selling items on Facebook Marketplace or specialized sites like Gazelle (for electronics) provides immediate cash.

What to Do After You Save Fast

Once you’ve hit your fast-saving goal, transition to sustainable habits:

Automate a reasonable savings rate (10-20% of income)
Restore some “wants” back into your budget
Maintain your emergency fund (don’t let it dip)
Set the next goal (debt payoff? investing? bigger emergency fund?)

Fast saving is a sprint, not a marathon. But sprints can jumpstart your financial journey.

Tools to Sell Stuff & Earn Extra

Need cash fast? These platforms help you sell what you already own or pick up extra income:

Sell Your Stuff:

Facebook Marketplace — Best for furniture, electronics, and local pickup items. Free to list, huge audience.
eBay — Best for collectibles, specialty items, or anything you can ship. Wider reach but takes more effort.
Poshmark / ThredUp — Best for clothing and accessories. Poshmark is seller-managed; ThredUp handles everything for you (but takes a bigger cut).

Earn Extra Income:

Upwork / Fiverr — Freelance your skills (writing, design, data entry, tutoring). Build a profile and start bidding on gigs.
DoorDash / Uber Eats — Deliver food on your own schedule. Quick approval and flexible hours.
Rover — Pet sitting and dog walking. Great if you love animals.

For long-term money management after your sprint, check out our saving money tips.

Some links above may be affiliate links. We only recommend tools we find helpful.

What’s your savings goal? Pick one strategy from this list and start today. Even one step forward is progress.