15 Best Ways to Build Wealth in May (+ May Savings Tracker)
This series helps you take advantage of the seasonal changes that happen throughout the year. Use the opportunities in the month of May to build wealth faster than ever before.
Explore ways to save, make money, and track your progress all month long!
10 Best Ways to Save in May
1. May is the best time to buy:
- Spring jackets & Rainboots, many of the wetter items are going out of season!
- Cookware
- Mattresses
- Fridges
And Memorial Day is the best day for sales on big items you need!
2. Participate in National Bike Month: May is Bike Month, with events like Bike to Work Week. Save money on gas and parking by biking more this month. You’ll enjoy more of the beautiful spring weather too.
3. Plant a money-saving garden: May is the perfect time to start a vegetable or herb garden. Growing your produce can save money on grocery bills while providing healthier food.
4. Make DIY Mother’s Day gifts: Instead of buying expensive gifts, get creative and make DIY gifts for Mother’s Day.
- Fix something mom needs
- Do a Mother’s Day Questionnaire (great for small kids)
- Spend quality time with mom
- Or create a custom photo album or artwork the moms in your life will adore.
5. Embrace Meatless Mondays: Challenge yourself to go meatless on Mondays in May. Cooking vegetarian meals can be budget-friendly and good for your health and the environment.
6. Drop a subscription you won’t need. As the days get warmer, you’ll often be outside and traveling more. Drop that subscription (Audible, Netflix, etc) you know you aren’t going to use much!
7. Buy seasonal produce. This time of year, you find great deals on things like asparagus, broccoli, cabbage and more. See great spring recipes.
8. Plan ahead for summer vacation: Start researching and booking your summer vacation in May to take advantage of early bird discounts and deals on flights, accommodations, and activities.
Planning ahead can help you snag the best prices!
9. Take Advantage of Cinco de Mayo Sales: Cinco de Mayo is on May 5th! Many stores and restaurants offer special promotions. Save your dining out for that day or stock up on Mexican ingredients at the grocery store to save money on meals.
10. Save on Your Memorial Day Cookout. It’s Barbecue Month, and Memorial Day is a popular day for outdoor get-togethers. Take advantage of the deals you see in the store leading up to it.
Related: Top 10 Personal Finance Rules to Live By
5 Valuable Ways to Make Money in May
1. Finish up your spring cleaning with a garage sale. Declutter your home and then sell items at yard sales or flea markets. With warmer weather, more people are likely to be out. This increases the potential to make great money.
2. Start a side hustle: Use the longer days of May to start a side hustle or freelance gig to earn extra income. Offer services like tutoring, pet sitting, or freelance writing.
Related: How to Make $300 Fast
3. Try seasonal farm work: If you live in a rural area, there may be opportunities for seasonal farm work such as picking fruits, vegetables, or flowers. Farms often require additional help during the spring and summer months for planting, harvesting, and other tasks.
4. Start tutoring or teaching: With the end of the school year approaching, many students may be looking for help to prepare for exams or catch up on coursework. Offer tutoring services in subjects you excel in.
Note: I made great money tutoring kids for many years. It’s flexible, you set the pay, and it’s fun to work with kids one-on-one. Seeing my tutor students excel was one of the most satisfying experiences of my teaching career too.
5. Do event work: May is a popular month for weddings, graduations, and other special events. If you have skills in event planning, photography, or videography, offer your services to help make these events memorable for people.
Free Printable May Savings Tracker
Now, grab the May Savings Tracker and get saving! To use it…
- Set a goal.
- Then, write the amount you save in the circles.
- Write your total at the end of the month and feel proud about how much you saved towards your savings goal!
What’s Next?
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