The proverb “save money, live better” has probably been repeated a lot to you over the years. It’s a wise maxim that you may also employ in your own life. Unfortunately, a lot of people still think that conserving money entails being deprived and unhappy.
You may make judgments using the “save money, live better” mindset in a variety of ways. You don’t have to labour nonstop and never enjoy your money if you want to spend less.
The beautiful thing is that you can use your options to plan your life such that you may save money while also leading a full and happy life.
What does it mean to “save money live better”?
The wonderful thing about learning to live more frugally and saving money is that you can adapt it to suit your needs. Not as a goal in and of itself, saving money.
Instead, you may utilize the savings to pay for more expensive aspects of your lifestyle. While saving where you can, come up with ideas for spending that you can do without feeling bad.
You can get a similar experience for less money
The principle of “save more, live better” has the significant advantage that you can frequently achieve the same experience for less money. For starters, it’s remarkable how many enjoyable activities are available without cost. Outdoor festivals and free music come to mind.
Most of the time, a less expensive alternative will provide you the same happiness. There’s usually always a less expensive method to obtain something, whether it’s a college degree, a car, a honeymoon, or smaller stuff. No, they are not having to be inferior either!
You can discover better options when you focus on saving money
If you concentrate on finding ways to live more frugally and better, you could be pleasantly surprised to discover even better options. Saving money might occasionally seem like an uphill battle. However, it doesn’t have to because being thrifty frequently motivates us to be inventive.
That ingenuity can open up better options than we previously thought possible.
7 Ideas to live better while saving money
Here are some suggestions whether you wish to save money for a distant goal or just increase your emergency fund. Saving money can help you live a better life.
Depending on your situation, you should save a certain amount of money, but you may also discover methods to make your life better while doing so.
1. Save more by making your own food
Make your own meals is one alternative. Of course, not everyone will enjoy this.
However, being able to prepare your own meals and snacks can significantly reduce your monthly spending. It also offers extra advantages!
Comparing dining out with eating in
Obviously, cutting less on dining out is a big money-saving advice that the majority of personal financial professionals provide.
The budget might suffer greatly from eating out frequently, purchasing beverages and snacks while traveling, and eating at fast-casual restaurants. These inexpensive lunch ideas and food planning might serve as motivation.
This is not to argue that you never should eat out. It’s stimulating and enjoyable to be with other people in a restaurant. But eating out for three meals a day is impossible if you want to save money.
Keep it uncommon to make it a special event; you could also enjoy it more this way.
Avoid eating out when traveling.
On vacation, many people—even those who “never” dine out in their daily lives—are the first to use the drive-thru. Even if a snack break on the road might be enjoyable, what if you could switch things up to save more money and live better?
Every time my family takes a lengthy road trip, or even a short-day excursion, we almost always prepare sandwiches. We can stop for a dinner break whenever the mood strikes because it’s not difficult to pack a cooler with food and beverages. Additionally, we do not have to worry about finding a fast-food restaurant that everyone will enjoy.
You’ll probably eat healthier when traveling if you carry your own food. There aren’t many establishments that provide salads or other non-fried foods. Like fatty road trip food never makes me feel my best, I don’t know about you.
Yes, avoiding eating out when traveling may help you save money. That’s fantastic.
However, it may also lead to better meals, a boost in energy, and more freedom in terms of where and when you eat. (Parks and rest areas are fantastic since they let you dine outside as well!)
Creating your own food helps foster relationships.
Making your own food may also help you become closer to the people you care about, which is another benefit. Families and groups of friends can benefit much from taking the time to select a meal, prepare it, and then share it. It undoubtedly supports the “save more, live better” philosophy!
Even if you detest cooking, you may set up your life and kitchen such that you can prepare more meals on your own. You may ask friends or family members for their preferred recipes, then attempt to make them. It’s difficult to top the connection created by sharing something special, like a favourite dish.
2. Save money live better: work out without a gym
Altering your exercise regimen is another approach to reduce costs.
Although I adore the gym, you may achieve the same results without one. Try non-gym fitness methods to save money and live better.
Exercise in nature has additional advantages.
For me, I’ve discovered that exercising in the great outdoors is *almost* always preferable than exercising inside. (I say “nearly” because clearly, it’s not the most comfortable if it’s 90 degrees and humid.)
But because of all the advantages that nature provides, I adore it when I can locate an outdoor yoga session.
According to Lisa Nisbet, Ph.D., who is quoted by the American Psychological Association (APA), “You may raise your mood merely by strolling in nature, even in urban settings. And even when you’re not actively engaged in nature, your sense of connectedness to the natural world tends to enhance your pleasure.
If you have access to it, you may go for a hike, jog, or walk outside in place of a cardio session at the gym. This can improve your mood and is free. You may utilize this wonderful instrument to make an investment in yourself.
Avoid driving to the gym to save time.
Another “save money live better” benefit is avoiding the drive to the gym. Staying close to home may help you save money because increased gasoline prices might be caused by inflation. Additionally, you’ll avoid the time you would have wasted travelling to the gym.
Of course, not everyone lives near to a natural reserve or has access to a home gym. However, you would save time and gas money if you could eliminate or at least scale back on your gym visits.
To gain muscle, go for a stroll around the block, use some cheap dumbbells, or try a YouTube exercise in your living room.
3. Find ways to save money on entertainment
The concept of “save money live better” may also be effectively applied to the entertainment industry. Your budget depends on how you choose to spend your free time. Fortunately, enjoying that spare time doesn’t need you to spend a lot of money.
Select free events over those requiring entry.
No matter where you reside, you probably have a variety of options. There are several pricey entertainment alternatives (movie theatres, concerts, sporting events). Others cost nothing or perhaps a few dollars.
Find entertaining free things to do with friends around your city. There are undoubtedly many more, but a few suggestions include going on hikes, having bonfires, going through each other’s wardrobes, and getting facials at home.
There are also many of free activities available for your kids if you’re a parent!
Instead of going out, invite your buddies around.
In keeping with the preceding suggestions for cost-free activities with friends, keep in mind that your house makes a wonderful meeting spot. True friends would be pleased to hang out with you even if your house is small.
When you consider the advantages of remaining at home, you may save more money and improve your quality of life. No, it is real! You might organize a baking competition à la Chopped, bring friends over to watch old movies, or just taste inexpensive wines from the grocery store.
It could take some effort to persuade your pals to participate in free activities if you don’t have many thrifty buddies. It’s important to be honest about what you want because they might not all support your financial objectives.
Use your neighbourhood library
Yes, I’m a nerd; these days, my preferred source of amusement is my neighbourhood library. The quantity of films, TV series, books, periodicals, and other items in your library is astounding.
Use your library to its fullest capacity without hesitation. I really want to support all the authors by purchasing their works, but the cost is too prohibitive. I can read hundreds of books per year, improve my quality of life, and save money.
It’s beneficial to your health to read books, and you could even learn something. Using the library allows you to enjoy a book (or movie, video game, etc.) without having to pay for it.
Additionally, buying fewer books allows you to start cleaning up your house sooner. When we have fewer items sitting about, such books and DVDs, many of us feel lighter.
Consume less streaming and TV content
Here’s an innovative suggestion to assist you in maximizing the “save money, live better” principle: view less content. Dropping your streaming services is an excellent suggestion when you start looking for methods to save money.
By getting rid of Netflix, Hulu, Discovery+, or any other streaming services you may use, you may reduce the cost of your entertainment.
I now understand that we are discussing how to live better while saving money. You won’t watch as much TV and movies as previously if you follow this advice. Instead, the goal is to lessen your “need” to watch screens for entertainment.
You could certainly cancel one or two subscriptions to save EUR10 or EUR20 each month. That’s a fantastic move. However, you could find that you spend more time outside, reading, learning new things, or playing with your children.
You won’t regret making extra room for your wellbeing.
4. Improve your life by investing for retirement
Saving money is impossible to discuss without bringing up the big “R”: retirement. Although the majority of our advice has been on putting money aside on a daily or monthly basis, that money may also be utilized for retirement.
You may retire earlier if you save more money.
Your retirement plans are greatly impacted by changes in your spending and savings habits. This is so that you may save more money for retirement and have less requirements for retirement income.
According to the 4% rule, you should spend 4% of your assets each year in retirement. For instance, if your annual spending is EUR40,000, you’ll need EUR1 million in retirement savings to ensure you’ll never run out of money. But modifications must constantly be made, which is why it’s so important to save money.
Retirement savings are a good choice if you’re unsure of what to do with your extra cash. A high savings rate is also required if you’re interested in taking an early retirement.
Make use of high-yield savings accounts.
Make sure your savings are working for you as you strive to save more and live better. Even if you may contribute a lot to any retirement plan, it’s a smart idea to additionally retain some money in a high-yield savings account.
You should allow your money to increase over time. By putting more money away now, you make it more likely that you’ll be able to “live better” in the future. All of those small savings’ decisions add up, and collecting interest on them makes your finances even more secure.
Don’t make too many sacrifices, and don’t forget to have pleasure in the moment!
You want to be careful not to make excessive sacrifices while maintaining your hard emphasis on saving. Don’t work 100 hours a week merely to save more money since it’s so crucial to appreciate every day you have here on earth.
Even though I fully think that you don’t need to spend a lot of money to be happy, it’s still beneficial to unwind and spend money occasionally.
Learn to appreciate the life you have by finding a balance between saving and spending that suits your needs and objectives.
5. Save money and live better by lowering stress
If you effectively manage your funds, you can reduce your stress. You may benefit from the concept of “save money, live better” since you feel better when you are not under financial strain.
Your emergency fund can grow if you save more.
You require an emergency fund if you have faced financial strain due to living pay check to pay check. Everyone needs money to cover unforeseen costs or lost income.
But there are many people who have much less, and you probably need more to survive.
More savings translates into less concern about losing your work.
You are more prepared for a job loss if you try to increase your savings and improve your lifestyle today. Even if you are excellent at your job, you risk losing your job or having your hours reduced.
Saving money serves as a reminder that you may live on less than your current salary when you adopt the “save more, live better” philosophy. It’s wise to save some money aside for a rainy day. If you ever have financial difficulty, learning to adopt a less expensive lifestyle may prove to be quite helpful.
When you have money to fall back on, tough times don’t sting as much.
6. Use the 30-day savings rule?
The 30-day savings rule is a straightforward financial tip that may help anyone become more adept at managing their money.
It’s rather simple to apply this rule. Close your browser window or leave the store the next time you find yourself contemplating an impulsive buy or just purchasing something you don’t need. You won’t be making that purchase. Well, at least not yet.
You put off all unnecessary expenditures and impulsive purchases for 30 days using the 30-day savings rule. You’re going to wait 30 days before investing your money in something you might not require.
If you still wish to make that purchase after this 30-day time has passed, feel free to do so. If, on the other hand, you completely forget about that purchase or decide it wasn’t worthwhile, you will have saved yourself some money while you work toward your financial objectives.
7. Discover how much fun saving money can be
The fact that it can be a lot of fun is another incentive to attempt on motto of “save money, live better.” Finding cost-cutting measures may be a game that forces you to always look for fresh approaches and chances.
Attempt fresh free activities
Trying out new things is a lot of fun, right? The need to save money might inspire you to take risks and develop new abilities.
Learning how to maintain a car or conduct household chores, for instance, might end up saving you a lot of money over time. Additionally, it boosts your confidence.
You can develop creativity when you decide not to go beyond your budget. You discover alternate methods to fulfil your desires.
You might be able to get free courses in return for volunteering at a nearby gym. Or develop your camping skills so you don’t need to rely on hotels when you travel.
To change your thinking and spend less to be happy,
In general, adopting the “save money, live better” philosophy requires a change of perspective.
More financial planning need not entail deprivation. A scarcity attitude may be transformed into an abundance mindset. There are several ways to enjoy life without spending a lot of money.
So why not examine your surroundings and finances? You’ll probably discover areas where you can cut expenditures without losing anything.
Be kind to others.
Finally, generosity is a further incentive to support you when you don’t want to save money. Giving to others is a blessing, and you might be able to do better by finding more room in your budget.
Even if you are unable to donate enormous quantities to charity, even modest donations would be gratefully received. You’ll be happy you gave up some of your fortune to assist people who are less fortunate. Also keep in mind that there are many of kind deeds you may perform without spending any money.
Make “Save money, live better” your motto to lead a better life!
If you think that conserving money equates to not living life to the fullest, you’re wrong. While pursuing your financial objectives, you may live comfortably. You may live by the motto “save money, live better” to increase your happiness and prosperity.