Save Money Live Better: Everything You Need to Know in 2021!

Save money live better isn’t just a clever grocery store slogan, it’s actually an effective formula for a happier and less stressful life!

But many of us believe the exact opposite – that we need to spend money to live better. It’s not surprising because we see thousands of ads every day telling us that we need to buy this or that to have a better life.

The reality is that for many of us, more stuff isn’t going to make our lives much better. Not really…

But what will help you feel that you have a better life is:

• Relieving stress by getting out of debt,
• Enjoying your life now, instead of waiting for success to arrive first
• Decluttering your mind and focusing on what’s important
• Gaining peace of mind by preparing financially for the future
• Getting more control of your life by setting goals

If that sounds good to you then keep on reading! We’re going to show you exactly how saving money can help you with each of these things.

Let’s get to it!

1. Relieve stress by saving money and getting out of debt

In a recent Capital One study, 77% of people surveyed said they feel anxious about their finances. And 58% actually felt that money controls their life!

No wonder anxieties are high, with so many Americans

• buried in credit card debt
• paying off ever-increasing student loans
• living paycheck to paycheck
• unprepared for emergency expenses

It’s enough to stress anyone out! But it’s not just mental. Financial stress can have serious physical health effects like

• depression,
• ulcers,
• digestive issues,
• high blood pressure,
• insomnia

Ok…so that’s the bad news. Now here’s the good news! People have solved these financial problems already and can show you how it’s done!

Study personal finance to save money live better

Financial literacy is the ability to understand and apply different financial skills, like budgeting and money management.

The sad thing is that schools don’t teach financial literacy (correct me if I’m wrong in the comments below!) which ultimately means that each of us has to learn it on our own if we want to be successful with money!

If you’re stressed and anxious about your money situation, the first thing you need to do is level up your money game and learn the following:

Learning and applying these skills will go a long way to getting your finances under control, paying off your debts, and drastically reducing your financial stress.

Here are some additional resources for increasing your financial literacy:

Create goals to save money live better

Another great way to reduce financial stress is to create goals.

How’s that? Well, without goals, your actions and obstacles can seem random and isolated. This can make it seem like there’s no rhyme or reason to what’s happening in your life and increase your stress.

But with clearly defined goals, your actions fit into an overall plan. That by itself can help you feel more in control of your life, but goals have a number of other stress-reducing benefits like,

•  giving you more control over your financial future. When you set a goal, you choose the destination. Without goal-setting, your final destination is really up in the air.

•  helping you focus on what really matters while ignoring the things that don’t.

•  improving your decision making process by showing you which actions will help or hinder your goals.

•  keeping you motivated through hard time by giving you a vision to fight for.

•  enhancing your personal satisfaction by completing the things you set out to accomplish.

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Build an emergency fund to reduce stress save money and live better

When we’ve got cash in the bank, the stress and the nagging thoughts just seem to melt away, right? That’s because you know you can handle most of the issues that may pop up.

Got a nail stuck in your tire? Zap! Tire changed!

Your dog need to see a vet pronto? Pow! Dog vetted!

You have to admit, it feels good when you can just solve your problems with the snap of a finger! If you’re ready to learn more about how to build an emergency fund, check out our post on Dave Ramsey’s 7 Baby Steps.

Once you’ve got your emergency fund in place, you’ll feel more secure knowing that you if something happens you can handle. No need to resort to using your credit card and going into more debt. And that’s just one way you can save money live better.

2. Saving money will help you live the life you want today

Do you know what I want to do? I want to pack a suitcase and take a trip to Dallas, Texas with my wife. But the time isn’t right, the money’s not right either…

Someday, when things are in place, we’ll go visit Dallas…just not today.

See how that works? There are always reasons to put off the things we want (as if tomorrow was guaranteed…)

And I’m willing to bet that I’m not alone. There’s probably something you want to do that you keep putting off. Maybe it’s a trip somewhere, or something you want to learn, or something you want to buy.

Whatever it is, maybe the time really isn’t right, and maybe the money really isn’t there, but instead of postponing your dreams indefinitely, why not start making things happen now?

Start by,

Make sure your budget doesn’t make you miserable

For the longest time I hated budgeting, because it felt like a self-imposed punishment.

In my mind, a budget basically meant no treats…no fun…no life. But little did I know, that perspective was a sure-fire way to fail at budgeting.

And fail I did…every time.

What I eventually learned is that if you want to be successful budgeting, you need to include things that bring you value and happiness.

For example, if you’re a Starbucks addict, you can’t realistically expect yourself to stick to a budget with a $0 coffee budget.

The trick is to include the things that bring you the most joy, while leaving out things that aren’t really valuable.

That way, you can get your money under control while enjoying your life.

You may also like: Best Frugal Living Tips to Simplify Your Life!

3. Adopt a minimalist lifestyle to save money live better

When my wife first told me she wanted to adopt a minimalist lifestyle, I thought we were going to have to Feng Shui our apartment. But no…the minimalist lifestyle just means living with less.

Naturally, living with less is a great way to save money live better! Because you’re going to stop buying a lot of things you don’t need! You’ll also save money on cleaning, maintenance and repairs.

But minimalism also has additional benefits…

It makes you more intentional with your purchases

For me, shopping was always a war between my plans and my urges. I would always have a list of things I intended to buy, but somehow I would always get distracted by things that I suddenly wanted to buy.

And if the money was in the bank, I would buy it. But with minimalism, that mindset changed. Instead of saying “ooh, I want that!”, you tend to say “does this add value?”

That change in mindset will definitely teach you how to be super frugal and make sure you only make purchases that add value.

You can get by with less space

Once you get rid of all the clutter, you won’t need nearly as much living space. And while this may not be an option for everyone, downsizing your apartment can save you huge on rent!

You can sell the things you no longer need for a cash boost

Would you believe that I have DVDs and VHS tapes from over 20 years ago? And I still have old phones, and electronics that might be better off in a museum than in a home.

With minimalism, you realize that some of that old stuff needs to go. But you don’t have to trash it, you can sell your general things on Decluttr or sell your electronics on Gazelle.

Related post: Creative Ways To Save Money

4. Save money live better by investing in your future

A big part of living better is knowing that you’re prepared for the future. This is why creating an emergency fund takes so much pressure off. But knowing that you’re prepared for retirement will really take the pressure off.

If you’re not saving for retirement yet, the best thing you can do is start as soon as possible!

Your income is your biggest wealth building tool to save money and live better

If you’re a Dave Ramsey fan, it’s almost certain you’ve heard him mention that your income is your biggest wealth building tool.

This is why getting out of debt as fast as possible is so important. Because as long as other people have a claim on your money you’re not going to be in a position to build wealth.

Imagine the feeling if you had no debt payments and a healthy emergency fund. You could breath easy and really start to build some wealth.

This is why Dave Ramsey’s 7 baby steps don’t call for investing until after you’re debt free and have a few thousand dollars saved.

But I get, it some of us want to investing a few dollars now, just to get started. In that case, I’d recommend starting small with investing apps.

Related post: How much money should I have saved for retirement.

Start small with investing apps

If you’re burried in debt but still eager to start investing, why not start small?

By using apps like the Cash App and Acorns you can feel good knowing that you’ve at least got some skin in the game.

The Cash App is actually my favorite new investing app. It was originally just for transferring money to people, but they recently added the ability to invest.

Some stocks can cost hundreds, or even thousands of dollars, but the awesome thing about the Cash App is that you can buy fractions of a stock for as little as a dollar!

With this app, there’s literally no excuse not to get started in the market.

Acorns is another app that’s great just to get started in the market. Simply connect it to your account and when you make a purchase, Acorns will round up your purchase to the nearest dollar.

That change will then be used to invest in exchange traded funds (ETFs).

Both apps are great options if you’re looking to get started today.

Final Thoughts

There are a number of ways to save money live better. From reducing stress to, helping you accomplish your goals, to getting you on track for retirement.

But what’s important while not forgetting to live your life today. You don’t want to wait until you’re 80 years old and retired to start living the life you always wanted.

Cheers!

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