M1 = cash and checking account deposits

M2 = M1 + savings accounts & money market accounts

M3 = M2 +large deposits and other large, long-term deposits.
Quote from wiki:
M0: Physical currency. A measure of the money supply which combines any liquid or cash assets held
within a central bank and the amount of physical currency circulating in the economy. M0 (M-zero) is
the most liquid measure of the money supply. It only includes cash or assets that could quickly be
converted into currency. This measure is known as narrow money because it is the smallest measure
of the money supply.[6]
M1: M0 + demand deposits, which are checking accounts. This is used as a measurement for
economists trying to quantify the amount of money in circulation. The M1 is a very liquid measure of
the money supply, as it contains cash and assets that can quickly be converted to currency.[7]
M2: M1 + small time deposits (less than $100,000), savings deposits, and non-institutional moneymarket funds. M2 is a broader classification of money than M1. Economists use M2 when looking to
quantify the amount of money in circulation and trying to explain different economic monetary
conditions.[8] M2 is a key economic indicator used to forecast inflation.[9]
M3: M2 + all large time deposits, institutional money-market funds, short-term repurchase
agreements, along with other larger liquid assets. The broadest measure of money; it is used by
economists to estimate the entire supply of money within an economy.[10]
----------quote from Conspiracy Nation:
M1 is basically a measure of all currency in circulation and not in the vaults of the U.S. Treasury,
Federal Reserve Banks, and the vaults of depository institutions.
M2 is a refinement of M1. It is a slightly less liquid measure, consisting of M1 plus savings deposits,
basically.
M3 is a refinement of M2. Again, the liquidity is less. M3 consists of M2 plus larger denomination
institutional deposits in money market funds, for example.
Since the root source of inflation has been defined as the creation of dollars (increased supply, see
The Squeeze of 79, op. cit.), it is to be marveled at that the M1, M2, and M3 statistics are rarely
even mentioned in the various news outlets. When the talk is of inflation, there is an aura of a
complex and mysterious world. (The Squeeze of 79, op. cit.) Inflation is not something magical that
just happens. It has a root source.