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Growing your savings account balance can take time, especially as your financial situation evolves and your obligations change.
But when life throws you curveballs — like unexpected car repairs, last-minute travel, or an opportunity you don’t want to miss — you may need to save money quickly.
Here are a few ways to give your savings a quick boost when you need it.
6 ways to save money quickly
Strategies such as automating your savings and budgeting can be effective in building your long-term savings. However, if you’re looking for a faster way to increase your savings account balance, consider the following tips:
1. Sell your stuff
If you have household items like clothing or furniture that are in good condition, but you no longer need or use them, consider putting them up for sale. Not only will this help you quickly add cash to your savings fund, but also declutter your home and life.
There are several online resale sites to consider, including:
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Facebook Marketplace: Good for local sales, no fees, and fast turnaround
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eBay: Good for collectibles and electronics
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Poshmark, Depop, or Mercari: Good for clothes and accessories
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Craigslist: Good for furniture and other large items
Of course, you can also get rid of a few things the old-fashioned way by hosting a yard sale.
2. Collect on cash-back rewards
Credit card rewards are as good as cash, and you could be sitting on extra savings if you don’t redeem them.
Cash-back credit cards are rewards cards that earn cash back on eligible purchases. For example, a cash-back card with a 2% rewards rate will essentially return 2% back on your purchases in the form of a statement credit or cash you can deposit to a bank account. These rewards can add up over time if you use your credit regularly.
So, if you’re in need of extra savings, log into your credit card online portal and see if you have rewards that are available to redeem.
3. Clip coupons to save on your regular expenses
Couponing is an easy way to cut your costs and free up cash to deposit into your savings account, especially if you learn how to stack coupons. So, before you toss out those weekly ads in your mailbox, you may want to check that you aren’t throwing out potential savings.
Of course, you aren’t limited to physical coupons — browser extensions such as Honey and Rakuten can do the heavy lifting for you by automatically searching for and applying digital coupons when online shopping. Plus, many retailers also send customers coupons and exclusive discounts if you add yourself to their email lists.
4. Consider a side hustle
Saving money is a lot easier with more income. Starting a business from the ground up can be complex and time-consuming, but taking on a side gig can be fairly simple. You may even be able to transfer some of the skills you use for your day job to your side gig and vice versa.
Side hustles such as dog walking, food delivery, or driving for a ridesharing app (to name a few) are gigs you can do on your own time, as little or as often as you want. If you’re looking to save money quickly, temporarily increasing your hours can be one way to do it.
5. Negotiate your regular bills
Another quick way to save money is negotiating with service providers to lower your rates, from insurance premiums to utility bills to cell phone plans. For example, if you find that a competitor offers a lower price for the same service, you may be able to get your current company to match it. Additionally, some providers offer discounts to long-term customers or discounted rates for bundling services.
Ultimately, your service providers want to keep you as a customer, so it doesn’t hurt to ask.
6. Try a no-spend challenge
A no-spend challenge is a commitment not to spend money on any nonessential purchases for a set period of time.
You can start by setting aside one day out of the week or month to cut out spending altogether. This not only helps you cut back on discretionary spending, but also allows you to gain more clarity on which expenses are actually non-negotiable versus the ones that you can probably live without.
What’s next?
So, you’ve boosted your savings — now, how do you keep up the momentum?
First, take a look at your current income and monthly expenses to determine how much you can comfortably afford to save each month. Look for expenses that can be reduced or cut completely, then reallocate that money to your savings.
Also, make sure your savings are in the right type of account. Interest rates vary widely, but the best high-yield savings accounts, money market accounts, and certificates of deposit (CDs) pay around 4% APY. Keeping your money in a high-yield account helps your balance grow even faster with no added work on your part.
Read more: How to save money in 2025: 50 tips to grow your wealth
