In our fast-paced world, finding ways to both save money and live better can seem like a daunting task. But fear not! There are dozens of practical ways to build a high-quality life while keeping cash in your pocket.
It’s time to discover them!
What does save money, live better mean?
In this article, save money and live better means:
- better utilizing your resources
- dumping the urge to keep up with the Joneses
- elevating your health, happiness, & fulfillment without breaking the bank
How can saving money build a better quality of life?
Let’s count the ways!
Daily Ways to Save Money & Live Better
First, these are practical things to do that save money and help you live better. They don’t require major sacrifice, and they allow you to put more money toward your financial dreams.
1. Work To Eliminate Your Debt
Debt is one of the biggest financial stressors because it can make you feel trapped. Taking control of your debt will not only free up cash, but help you breathe easy again. What a quality-of-life booster!
2. Cut Back on The Bad Stuff
Let’s get healthier AND richer at the same time! Here’s how:
- Pick one bad habit that you’ve been meaning to cut back on (junk food, smoking, drinking, social media, online shopping, eating out, etc.)
- Sign a commitment card &/or do a challenge to cut it out for 30 days
- Watch the money pile up
We’ve saved hundreds this year, felt way better, and changed habits long-term by doing this.
3. Cut Cost Without Cutting Value
Just because something is cheaper, doesn’t mean it’s inferior. With patience and persistence, you can often get the same or similar item for a cheaper price.
- Compare prices before making a purchase
- Wait for sales or discounts
- Shop at a different store
- Buy in bulk for items you frequently use
- Use coupons or rebate apps to save more
Just make sure that you are considering your time spent when utilizing these methods and distinguish between your wants and needs before buying.
4. Get Out Into Nature
Nature heals the soul. Inspires it. And rejuvenates it.
And guess what – it’s mostly free (or cheap).
If you want a happy and healthy life, nature must be an integral part of it. So, check out trails, forests, mountains, beaches, deserts, or flowers. But find some often.
5. Use The Quality of Life Lens
When I audit our family spending, I use what I call the “quality of life lens.” Every single thing we buy goes through this filter. The chart below shows you what this looks like:
This “lens” ensures that our spending aligns with our biggest money values and priorities.
6. Be A Good Habit Builder
Habits are the machinery clinking in the background of our days. And yet, over time, they determine our entire life trajectory.
If you struggle with saving money, relationships, or anything else, brainstorm new habits you can build. Be relentless about building small daily habits that help you become your favorite version of yourself.
7. Cut Back On Eating Out
The restaurant industry makes food that we’ll love. It’s their job.
But this often means massive food portions, excess salt and sugar, and very few vegetables. Even if you try to make healthy choices at restaurants, temptation is everywhere.
That’s why cutting back on eating out can be huge for your health AND your bank account.
Make cooking at home easier with:
- A monthly meal planner & best tips
- Taking the no eating out challenge (take out the decision for a while)
8. Re-Think Entertainment
Instead of dropping hundreds to entertain yourself or your family, consider alternatives to connecting with loved ones.
- Ask friends and family to come to your house instead of meeting at expensive places
- Go out during happy hour when you do go out
- Go camping, try picnics, explore the farmer’s market, and get outside when possible
- Check for free entertainment in your local community
9. Go To The Library To Save Money, Live Better
This savings tip has two benefits. First, the library has loads of free entertainment.
Plus, books are the cheapest investments you will ever make in your growth. Take advantage of your local library to build your skills, get healthier, and build a world class life.
10. Waste Less
When you throw out food, you are throwing money into the trash can.
So, organize your kitchen to utilize as much of the food you buy as you can. Put food that needs to be used up in the front of your fridge and pantry. And use recipes that use up ingredients you already have (soups and stirfry are great for this).
Try a pantry food waste challenge >>
11. Practice Gratitude
Be grateful for what you have and you’ll be less drawn to the siren call of buying stuff. Write down 3 things you are grateful for every morning before your first cup of coffee.
12. Reconsider Your TV Time
Streaming services are designed to keep you watching as long as possible. And shows can be a fun way to relax. But many of us are spending too many hours of the finest parts of our days in a screen fog.
Instead of watching tv, you could be building your skills, getting more sleep, or connecting with your loved ones. What’s worse is that you are often exposing yourself to thousands of ads. Making you that much more likely to “need” the next best thing.
Put a cap on your tv time and pick up a money mindset book in its place.
We drop Netflix during the spring and summer months to encourage our family to get outside more. Less tv = fewer ads.
13. Live Within Your Means
In terms of life quality, living within your means gives you one amazing gift. Peace of mind.
Because when you save money each month, you have an emergency fund cushion for when life gets wonky (and it does to all of us). Whether it’s a sickness, a layoff, or an unexpected repair, you know that you are covered.
Need help living within your means? Start by creating a budget.
14. Think Differently About Your Gifts
Your loved ones want to spend time with you. That is the best present you could ever get them. So, invest in experiences when you shop for holidays and birthdays. You’ll be:
- Strengthening your relationships (which is proven to make you happier)
- Picking up less clutter later
- Building meaningful memories
Can you say that for many of the toys you’ve bought?
15. Buy Fewer Things In General
Obviously, buying fewer things saves you money. But there’s an even better reason to buy less stuff (that few talk about). Owning fewer items means that you make fewer trivial decisions.
As a mom, I can tell you that decision fatigue is real. It affects my sanity, willpower, and productivity. And it’s also the reason that big tech CEOs wear the same t-shirt to work every day. They want decision-making to go towards bigger priorities.
16. Reduce Basic Utilities
Energy usage is a low-effort way to better utilize your resources. There are small, practical improvements you can make that both save you money and keep your quality of life in tip-top shape.
- Unplug devices when they’re not in use
- Turn off lights when you leave a room
- Switch to energy-efficient appliances
- Insulate your home properly
- Use a programmable thermostat
17. Be Intentional With Your Tribe
Finally in this section, spend time considering the people you surround yourself with.
- Are they savers are spenders?
- Do they keep up with the Joneses?
- Do they invest?
- Are they optimistic? Are they looking for opportunities?
Your environment impacts every life decision you make. So, if you want a high-quality life, be around people who demand high standards for themselves as well.
You’ll see an insane improvement in how you think and live once you intentionally spend more time with these people. (And less time with the victims and downers in society.)
How can I save money for a better life?
In this short section, read how saving money makes your life better.
18. Save For Retirement
Money in retirement gives you peace of mind, flexibility, and adventure. Plus, it enables you to leave a legacy to your family or favorite organizations.
Related: Why Can’t I Save Money?
19. Save To Travel Mindfully
Seeing the world allows you to experience life fully, appreciate nature, and understand others’ perspectives. But travel doesn’t have to be to an expensive luxury resort. Save money while you travel and you’ll be able to do it far more often – making your life a much bigger adventure in the process.
20. Save Money To Invest in Your Dreams
Would you love a car with more space? Or to move closer to family?
If you don’t have financial and life dreams, it’s time to sit down and make some!
Without having something to work towards, you’ll give in to buying nonsense that you don’t really care about. But once you have a vision, no one can stop you!
Then, track your progress.
Saving more for the things that truly matter to you will boost your overall quality of life and give you far more control over your financial future.
Bonus tip: keep your cash flow money in a high-yield savings account to get better interest rates without the effort.
Related: Best Benefits of Saving Money
More Ways to Improve Your Life While Saving Money
21. Take Care of Your Body
Getting into good shape is crucial to your daily energy and life force, but also your bank account. You can invest in healthy food and exercise now, or you can pay for a sluggish, tired body and medical bills later.
Here are a few of the best ways:
- Eat a healthy diet
- Maintain regular exercise
- Get enough sleep
- Stay hydrated
Remember, a healthy body leads to a healthy mind. You can save money by preparing frugal meals at home and choosing outdoor activities for exercise.
22. Mind Your Stress To Live Better, Save Money
Stress is a silent cause of so many health issues and diseases and in our society.
So, practice stress-reduction techniques, such as meditation or journaling to help you feel recharged each day. Also, seek outside help and support when you need it.
23. Invest in Learning & Growth
One of the best ways to save money and live better is to always be learning. Expand your skillset and become the best at what you do.
Stay curious. Improve your current expertise, challenge yourself, and explore your interests. This will ensure that you make a good income. Plus, it will open new opportunities and even produce income-generating hobbies.
24. Nurture Your Relationships
Without strong relationships, there’s not much worth saving money for. So, join clubs and attend events where you meet new people. Then, be empathetic and an active listener. Strive to be a mentor to others.
Nurturing supportive relationships can help save money because people will want to help you as you help them. It also leads to a more fulfilling and balanced life.
Life Philosophies That Save Money & Live Better
Finally, these life philosophies are the foundation to wealth and amazing life satisfaction.
25. Train Your Mindset
Saving money and living well are all about the story you tell yourself. If you believe you don’t deserve something, you’ll never put in the time and effort required to achieve it.
So, work on the thoughts in your head. Overcome your limiting money beliefs.
Remind yourself that you are bold. Patient. Loving. And good with money.
26. Be Generous
Contributing to your community and making others’ lives better creates a more meaningful life.
Seek out volunteer opportunities, donate to causes and people you believe in, and be the most generous person others know. Giving back will not only make a positive impact, but it can provide you with a sense of purpose and connection.
Plus, giving helps you think of yourself as being abundant and prosperous.
27. Embrace Minimalism
Save money and live better by honing in on what truly matters. Start by decluttering your home. Donate or recycle items you no longer need. Then, when making new purchases, put them to the test with the quality of life lens (#5).
- Does this add value to my life?
- Could this money be better invested in another way for better quality of life?
By considering these questions, you’ll make more intentional choices. Sticking to a simple, clutter-free environment reduces stress, increases focus, and puts financial freedom within your reach.
28. Master Your Tech To Save More Money, Live Better
Technology is a beautiful thing. But there’s also a problem. Everyone is addicted to it.
This means that it negatively affects your productivity, relationships, money, and mental health on a daily basis.
But you have a choice.
- You can be the master of your tech.
- Or you can let it master you. (like everyone else)
Set parameters for how much time you spend on social media and online shopping apps. Block yourself out of websites (I love the Freedom App). And keep your electronics in a different room during self-care and family time.
29. Take Care of What Weighs You Down
If something is a burden, handle it head-on. Lift the weight that threatens to crush you. Often, we avoid things because they seem hard, but are shocked at how quickly they resolve once we address them.
So, make a list of anything that’s bothering you and take a few moments today to take care of them. Your relief, when finished, will give you a new level of peace. Plus, you will save money and live better because you are problem-solving.
30. Celebrate Milestones & Progress
Finally, keep your good money saving momentum going and enjoy life at the same time by celebrating your small and big wins. These affordable treats will help you feel good without spending a fortune.
You can save money and live better at the same time. It doesn’t have to be one or the other! In fact, the best things in life happen to be free!
Grab access below to our best free budgeting trackers, worksheets, and money mindset resources:
Read: Creative Ways to Save Money – for more tips you’ve probably never heard of!