7 Clever Ways How to Save $5,000 in 3 Months

how to save $5,000 in 3 months

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You need money fast and you know you to save to get there. So, you think to yourself how to save $5,000 in 3 months. That’s around $1,500 to $1,700 a month. It’s a large amount to start saving each month. And, likely not extra money you just have sitting around in your paycheck, ready to be stowed away.

Don’t sweat it though, there are options to help you save that much that quickly.

I’m going to share 7 smart ways how to save $5,000 in 3 months. You will read about what each option is about, how it works, how to do it, and more.

Let’s go!

how to save 5000 in 3 months

7 Smart and Clever Ways How to Save $5,000 in 3 Months

What could you need $5k for in 3 months? Buying a car? Downpayment on a house or a medical procedure? Whatever your reason, there is a light at the end of the tunnel and 7 solutions to help you meet your savings goal.

Before getting into it, here are our quick earners we want to share real quick:

  • Cliqly: Get paid to send emails. They have a referral program too. Some Cliqly users have reported making up to $2,500 within the first 2 weeks of starting. I made nearly $600 in my first two weeks. Here’s my Cliqly review.
  • Swagbucks: Share your opinion for cash. You can also play games, watch videos, listen to music and perform other tasks for money.
  • Arrived Homes: Invest in rental properties with as little as $100. Perfect if you’ve wanted to diversify your investments without having to support an entire mortgage on a rental property. You can get into fractional shares. Read our Arrived review.

Let’s get into it!

1. Get an extra job

The easiest, fastest way to save more money is to add more money to your income. Do this by getting an extra job.

  • Seasonal job
  • Side job
  • Second job
  • Start a side business
  • Start a side hustle

Here are 30 ways to make money online for beginners.

2. Ask for overtime

Another easy option is to work overtime hours at your job. This usually involves no training or experience. Nothing special extra you have to do. Just work more hours for time and a half or possibly double time!

3. Cut your expenses

Take a cold, hard look at what you spend each month. And, whittle that down as much as possible to save hundreds or thousands off your expenses for the next 3 months.

  • Eliminate subscriptions like streaming apps, subscription boxes, etc.
  • Stop eating takeout and cook at home more
  • Quit going to Starbucks or getting coffee, boba or other drinks to go
  • Carpool
  • Take public transit
  • Go out on weekends less
  • Cut your gym subscription
  • Be mindful of how you use energy in your home (elecitricity costs, water usage, etc.)

There are many ways to cut your expenses. You can get creative with it or make it a game to try to make it fun.

4. Start a business

This is like getting a second job but, you’ll launch your own business instead. I know what you’re thinking. You think starting a business will cost you money which is the opposite of what we’re doing here, which is trying to save $5K in 3 months.

Well, not all businesses cost money or cost money upfront. Some may require a little seed money but, a very minimal investment for a large ROI may be worth it.

The idea is to start a small business for some extra cashflow to help you hit your savings goal. This will be a no-startup or low-startup business and I’ll share some ideas with you:

  • Blogging (around $50 to start a blog, which goes to web hosting and domain costs)
  • Social media manager (zero startup cost)
  • Influencer or content creator (zero startup cost)
  • Amazon influencer (minimal costs, just to cover Amazon purchases that you’ll review)
  • Website flipping (up to $50 for nice ROIs)
  • Flipping goods (listing fees sometimes, like if you list your stuff on eBay)

If you want to start a business that you can work from home and earn an unlimited amount of income as a solopreneur, look into digital marketing. It’s one of my income streams and it makes me a full-time income, alone.

Read my free ebook to learn how it works.

5. Spot and use discounts

Can discounts really help you save thousands? They can! Believe it or not, getting a deal pays off, especially if you continue to get bargains. The savings can be huge and it adds up and accumulates over time.

For example, you can get 20% to 40% off your groceries using grocery and savings apps, like Ibotta and others. Some people save even more.

Coupon stacking is kind of extreme but, it’s a way to save a lot of money on your stuff. You give up choosing the meals you eat to a degree, with this, but, for free food or discounted food, it can be worth it. And, if you stock up on 10 toothpastes, for example, you can sell your supply.

6. Meal planning

Food is one of the biggest expenses you’ll have. Cut out eating out, cook at home, and plan your meals. Try batch cooking, make freezer meals, buy food in bulk and meal prep.

7. Track your progress

How can tracking your progress help you save? Tracking is so powerful. Don’t sleep on it. It can help you keep yourself accountable and it’s a good way for you to check in on your work and keep you motivated to keep going.

Here are some ideas for tracking your progress:

  • Jot down your goals and milestones in a notes app on your phone
  • Keep a detailed spreadsheet
  • Get a budget tracker (there are digital budget spreadsheets on Etsy)
  • Set a savings goal with a friend and track with them

BONUS: Do extreme saving

Extreme saving is about drastically changing your lifestyle for the purpose of saving money. These ideas are kind of wild but, if you’re up for the challenge, consider it:

  • Cut your hair at home instead of going to a salon or barber
  • Do your nails at home instead of going to a nail shop
  • Sell your car and use public transit, walk or bike to work, or buy a cheaper car
  • Move in with your parents or get a roommate
  • Move to a cheaper part of town to save on rental expenses
  • Buy a house (a mortgage payment can be cheaper than paying rent)
  • Airbnb your home on weekends and stay with a friend
  • Put your car on short-term rental for extra cash (like Turo)
  • Cut the cable

Onto You!

What do you think about these ways how to save $5,000 in 3 months? Are these some avenues you’d take to start saving $5K in 3 months?

Recommended Resources to Increase Your Income and Save Money

Legendary Marketer

This online training program shows you how to start an online business. You can join free then, take their 15-day business builder challenge to learn how to start an online business. Business owner Amalie Lund made $100K in 6 months, after going through this program!


If you’re in a pickle and looking to make some extra money, look at paid online surveys. Swagbucks is one of the best survey companies to use. They offer a multifaceted site with many ways to earn:
  • Surveys
  • Watch videos
  • Listen to music
  • Online shopping
  • Discovering stuff online
It’s free to join and you can start making money sharing your opinion and through other ways as soon as you’re sign up.

Arrived Homes

If you’re looking for a way to earn passive income with no work, look at rental home investing with Arrived Homes. You’ll invest in rental properties with a little as $100 and entirely online. This is a way to make your money work for you and earn passively with rental income.

Jenn Leach, MBA

Jenn Leach is a Houston-based MBA with over a decade of experience in the banking industry. She writes at Millennial Nextdoor where she writes finance, money, business, and lifestyle content to help millennials create additional income streams online. Join her on Substack at https://jennleach.substack.com.

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