Save money live better– does it ring a bell to you? Well, it's Walmart's marketing campaign about providing a “low price” strategy to make people’s lives better many years back.

Indeed, the company successfully translates the “low price” to make people's “life better.”

However, aside from Walmart's initiative in everyday low price guarantee, how can you personally implement this forward-thinking in real life?

Does it really make life a little bit better if you can save money?

Millennials (as defined by Pew Research Center as those born from 1981 to 1996) took a quarter of the U.S. population and are one of the first generations to live with the internet, are known to live YOLO, and couldn't care less for the longer-term.

Well, it's not always the case. A recent study from Bank of America revealed that more millennials are intent on saving with retirement in mind. On the road to save money live better!

Should we celebrate this positive disposition about the growing millennials? How can you save money and live better no matter which generation you belong to?

Read on the 23 tips we share about how millennials can bootstrap their savings journey this 2022. After all, it's never too late, and you're never too old to set yourself a goal this new year, including getting better at your finances.

Related reads: 32 Realistic Ways to Save Money Very Easily Without Giving up

Why must you save money?

First and foremost, we shall dive deeper as to why we save money. I'm sure you already know why, the necessities and many things money can do to improve your life.

Some say that money can't buy you happiness, and it's not the end game of life. These people believe that life isn't all about money and working 'till your butt is off. While it's undoubtedly true, there are a few things that I just like to emphasize.

Yes, there's so much more to life than making and having money. You have your family and friends to support you, the job that fulfills you, your significant other, precious memories created, and time spent- all these are more valuable than a thousand dollars you kept and without anyone or anything to share it with.

However, the truth is money does make us happier at a certain point. When we can live debt-free and not worry about basic needs, it adds to a person's overall being.

Having too much or more than what you need, over time, is what makes money like a bad guy in this world. But remember, when you can finally afford that dress you've been eyeing forever, aren't you happy?

When you can retire early and afford to travel on a business class to anywhere in the world, doesn't that bring you joy?

I don't believe that money is the root of all evil, the greed of the person handling is.

Money is a tool. And, as a tool, it's entirely up to you how you will use it. For better or for worst? Moreover, money can be viewed as the product of the things you do, such as your dream job or passion-driven business.

Importance of savings

Nevertheless, saving money is vital. Even if your thinking right now is, “Nah, I don't need it, for now, I'm too young. I will live as if it's my last days.” Girl, you're doomed. Try to get into the habit of setting aside even a little bit of money.

Depending on your goals, get specific about your core reasons as to why you're saving money. Is it for your travel expenses? Down payment for your dream home? Starting out an emergency fund?

Whatever it is, keep all pennies, dimes, nickels, everything! As long as you have spare money, you're off to a good start for a better life.

Here are other obvious reasons why you should start saving money today.

• Getting into the habit of saving money while young build up a good credit score. If ever you come up one day; needing financial assistance from banks or any loaning institution because you take care of your financial health while starting out, you may have a good chance of hassle-free and quick approval.
• You can live in abundance knowing that you have enough money to sustain your lifestyle.
• When an emergency comes, you don't need to bother someone to borrow money because you have your safety net or an emergency fund for life's minor inconveniences or unforeseen events.
• You can retire early and focus on things that you enjoy.
• Achieve financial independence and freedom.
• You can live longer and healthier because you're stress-free about your financial well-being and can better take care of yourself.
• Saving money enables you to become a responsible and disciplined person.
• You can also help other people in need.
• Saving money live better allows you to build wealth and live a legacy for your future next generation.
• Lastly, you can buy things you need and want without feeling guilty of the price tag nor feel restricted about intentional or joyful spending.

Save Money Live Better-Money Savings Myth Debunked

If you're still unconvinced that you should definitely save a part of your hard-earned money and not just splurge it in unscrupulous spending, maybe you should try to shift your money mindset and be good at it.

Here is the money savings myth busted! (and you should totally drop now!)

Myth #1: “I don't deserve wealth.”

The reason why and how you act whenever you have money may be wrongly ingrained in you when you were young. They say that when an individual grew up with less access to financial literacy, he may feel that he is not worthy to accumulate wealth, therefore, mindlessly spending money.

Likewise, when a person grew up in a household with abundant financial life, he may feel that it's okay to spend all his money down to every bit because he believes that they will never run out of it.

Listen up, folks! Everyone deserves to be wealthy and live an abundant life. Use your abilities, talents, and gifts that only you have. Tap into the power of mindset shifting and share your skills with the world. You deserve money, and you deserve to be happy.

Drop the victim mode or blame the government and even the educational system. What you should focus on now is how to educate yourself about personal finance.

Myth #2: “I can only save a little money; it's not worth it, so why bother?”

Nah. Every drop counts. It may be small for now but it adds up. These tiny increments will roll like a snowball.

Remember that to save money and live better, you must be patient when saving your money. Keep in mind that no matter how small or how large you have stashed in your bank account, it's always worth it.

Myth #3: “Savings is for adults cutting out all the fun things in life.”

Just because you're an adult now and prioritizing to save money live better doesn't mean you can't enjoy the finest things in life. No one told you that you can't be Spongebob and Squidward at the same time, well now, you do!

Saving money should be viewed as longer-term and not depriving yourself and getting too serious; not allowing yourself to take on life's greatest gift.

Again, why do you save money? Do you live to work or work to live? Your money or your life?

Myth#4: “I'll start saving money later when I get more money.”

No, girl. You can start saving right now, even if you're living with a low income.

There are intelligent ways for you to make saving easier. Moreover, when saving money, time is of the essence. Make time your greatest ally. Keep in mind that you are doing this so that your future self will thank you.

Myth #5: “Saving requires a larger amount of emergency fund.”

An emergency fund's ideal amount is up to three to six months' worth of your living expenses. However, isn't it easier said than done? Besides, it's not always applicable for every person.

Our suggestion is to start with the amount you are comfortable with, even if it's small. Remember, it adds up, like the magic of compounding interest. You can start keeping away $50 a week or $100 a month to cover unexpected expenses along the way.

With much “financial noise” out there, it's easier to believe what the majority is saying, but knowledge is power. It's time to break those money-saving myths hindering your financial growth.

23 Ways to Save Money and Live Better

The first step is always the hardest. Here are 23 easy and practical tips for you to start to save money live better. (You may already be doing some of this too!)

1. Make saving money automatically.

Let your mind, body, and soul get used to setting aside money every payday. Better yet, set up an automatic fund transfer to your savings account from your checking account.

Treat savings like an expense and let the word SAVINGS tattooed in your brain. Saving money should come easy to you like a habit you get addicted to.

2. Join the money-saving challenge.

To make it more fun, you can join the money-saving challenge. There's the 52-week challenge, the envelope method, and many more. You simply print the template, put it in areas within your house where you can quickly notice it, and get reminded to put in money in your savings jar.

Money-saving challenges teach you to stay consistent with your financial goals and get disciplined about money. Plus, you can invite other people too to join you towards this rewarding challenge.

3. Get an accountability partner.

Following the above tip, you can also find an accountability partner for your savings journey. This is any person you can trust.

Having someone you can share your struggles and small wins with daily can most likely help to achieve your goals.

4. Use Amazon Hacks.

Another way you can save money and live better is through using precious Amazon Hacks! You might not know about it, but you can actually save more money if you know how to time price drops and get the most out of free shipping.

To know more about it, read: 23 Revealed Amazon Hacks That Can Save You Hundreds of $$$

5. Use cashback apps.

If you're a frequent online shopper, isn't it nice to get your money back if you shop at your favorite online retailer? It's like getting free money!

Besides, these cashback apps are free to download or install in your web browser, so what are you waiting for? *A little word, my friend, don't shop 'till you drop. Just because you're getting money back doesn't mean you should shop more only to get a grain of coins.

6. Know when to shop and wait for discounts.

Bet you're not aware of it but, did you know that there is a perfect time for you to do your groceries and shopping spree?

Most retailers have Clearance Sales and Roll Back Prices; Walmart does it. Although it varies from every local store, a clearance sale is when most items are markdown and prices will not immediately go back up. It will continue to mark down the price every single month until it sells.

Meanwhile, a rollback price is a temporary price decrease of an item, and it usually lasts within 4- 10 weeks only. Mind you, that rollback price isn't always the best price. If you're unsure, always compare prices.

Therefore, try to time your shopping. You never know when your local grocery store will put up a sale, will you?

7. Get a free Walmart gift card when you shop.

Besides Walmart, you can also get free e-gift cards at other big brands like Starbucks, Lipton, St. Ives, and more! Thanks to Fetch Rewards an app that lets you earn gift cards; from beauty brands, grocery, health and wellness, household, and snacks, name it!

It's simple. Once you shop from your favorite brands, do not put the receipt straight into the bin. Instead, take a picture of it through the Fetch Rewards app and grab your rewards! You can also connect via email, scan receipts and start saving those cool gift cards that you can use yourself or share with someone else.

8. Start clipping coupons.

Ah! The good old days of couponing! You can use this when you grocery shopping, and even nowadays, coupons exist on the internet. There are user-friendly mobile coupon apps as well that you can download for free!

Check out: Can the Honey Extension Really Save You Money? – Honey App Review

9. Fast-track your money with a budgeting and savings app.

Seriously, YOU NEED A BUDGET. It doesn't matter whether you're still into classic pen and paper. But if you want more creativity and customization, there's the right mobile app for you. There are also many free budgeting templates online that you can follow should you want to get started.

The point is, start managing your finances now. Give every dollar a job and track the money coming in vs. the money coming out. You'll get relieved doing this hack.

10. Practice the 30-Day Savings Rule.

Essentially, the 30-Day Savings Rule states that before purchasing an item, you should wait and think about it for a month to see if you really need or want it. This will make you mindful of your spending patterns and what triggers your impulse buying.

Patience and setting the right intention are the key. Besides, if you really want to buy an item, you will not be having second thoughts about it nor change your feelings even after thirty days, right?

Hence, there is a good chance that after 30 days, you will no longer want it.

11. Implement a cash-based system.

Want to save money and live better? Then, whenever possible, USE CASH ONLY! If you are used to credit cards, well it's time to alter that habit. When you use cash, since it's tangible, you'll feel the weight of it. Therefore, you'll be reminded how much you have, and if your pocket has no more, of course, you won't be tempted to overspend.

Another thing is to leave your cards at home and use cash only when you're shopping or going out. Do not bring excess cash unless absolutely necessary. But, try to go outside with enough calculated money that you can spend.

That way, you'll not dip into your savings every now and then because you know your limit and which amount you are only allowed to spend and not.

12. Get a roommate.

One of the things you can do to save money on rent is to get a roommate. That way, you'll have someone to share rent expenses with. Ensure that you'll pick someone you can trust and get along with. After all, who would want to live with a stranger?

Better if you can reach out to someone you know. In doing so, you shared every living expense depending on your terms. Plus, you'll never get bored since living alone may feel lonely and isolating.

Read more: Rent and Save: How to Save Money While Renting

13. Don't buy books.

It's silly, but maybe buying another book unread and letting it sit and gather dust on your shelf isn't the wise thing to do if you're a struggling bookworm.

Nowadays, you can read e-books and rent textbooks on Amazon. For college students out there, you can rent academic textbooks instead of purchasing a new one only to use it in one sem. Then, what's next? Moreover, if you do buy, you can resell it.

Sometimes living in frugality can also mean becoming content with a minimalist approach.

Related: Broke Bookworm No More- 10 Smart Ways To Save Money On Books

14. Save money on transport.

Commuting every day is bloody exhausting. Tap into your bargaining skills and why not request a remote set-up? Or, find jobs that allow work-from-home arrangements; you'll never miss out!

If planning on buying a car, make it your asset. Meaning something that will produce an income for you passively (or actively.) You can buy a second-hand or used one and save from the total costs. If you have free time, drive for Uber or Lyft.

Another thing you can do to save money on transportation costs is to use alternate vehicles like bicycles. If your office is a few blocks from your home, try to walk on your way. You not only save money, but you also strengthen your body by exercising.

15. Freed yourself from bad habits.

Bad financial habits you may not be aware of are overspending and impulse buying among the few. If retail therapy is your new addiction, please quit it. Now more than ever is the time to start anew and fresh with your finances.

While young, save as much as you can. Learn to invest and grow your money. You should also develop more good habits and discipline towards yourself, and that one good habit is none other than learning how to save.

16. Save money and live better by reducing expenses.

Easier said than done, but once you have a budget, you can have a clear picture of where exactly your money goes. You should learn how to cook by yourself and meal prep. It costs way less than your normal eating out plus, you'll learn how to prepare healthy delicious foods.

You should also try to opt for cheaper dates and entertainment. Luckily, I'm a home-buddy, so movies and home workouts are not an issue for me. It's fun, too. However, if you feel like you deserve to go out and have fun, then go ahead and book that ticket to Disneyland. *Make sure it's included in your budget!

I will not tell you to stop your daily coffee as well. You know, those self-proclaim financial gurus always saying to you that “Your $10 coffee could be $X million in 20 years?”

What you should do is be mindful and intentional in your purchases, reduce expenses on grey areas like (bank fees), formulate a financial goal, fund your investment, and enjoy your money in peace!

17. Don't quit your day job.

There are so many social media influencers encouraging anyone to follow their dreams and passion in life. While there's nothing wrong with it, think about if it's designed for your life. You can't just quit your job and start vlogging.

I'm not generalizing but think carefully of advice you heard and the media you consume. Choose what to receive, whether it will actually aid you in any way. Hence, filter it out and take it with a grain of salt.

Before you leave your job, try to ask for a raise. Learn new skills and improve what you can do. Well, of course, if the working environment is toxic already, well, that's another story.

Remember, everything takes time. Some people are plainly privileged to be able to travel the world and live their Pinterest lives. Before you quit your job, make sure that you already have a backup plan.

18. Save on utility bills.

You can save money live better by paying attention to your energy and other utility consumption.

Some of the things you can do are adjusting your thermostat, the temperature on your water heater, and choosing friendly energy-saving appliances. You can also get rid of old incandescent bulbs and switch to LED lights.

Another way you can save on utility and household bills is to fix that leaky faucet or toilet, unplug unused electronics, seal drafty windows, and be efficient with refrigerator temperatures.

19. Learn to say NO.

Living young, wild, and free? FOMO? Come on! Learn to say NO sometimes. It's such a powerful word that not only can save your wallet but can also save your life.

There's nothing to be ashamed of that you are living on a budget. Surround yourself with like-minded people who will understand and respect your financial limitations and boundaries.

20. Fix your money-mindset to save money and live better.

Similar to success, financial abundance is a state of mind. Cultivate and learn to manifest an abundance of money-mindset. You should also establish a good relationship with money.

Remember the Law of Attraction? Well, why not apply it in your finances too?

However, all of it will become futile if you don't take action.

21. Set your money goals.

Last but not least is to build up your money goals. That way, you'll have a sense of direction that will guide every financial action you take.

Memorize your goal by heart and create visual clues to get reminded of it every day.

To save money live better, you can set some of the money goals such as:

• Saving your first $1000.
• An additional fund for your travel vacation.
• Setting up an emergency fund.
• Saving for a downpayment of your dream house.
• Any other personal money goals that you can achieve.

22. Refinance your Mortagage

Every few years, you should look to refinance your mortgage. See if the rates are still competitive and speak with your bank manager.

If they don't offer you a good deal, you can always switch banks. The same goes with your insurance provider. Shop for the best deals around that are aligned with your budget and investment/financial goals.

Sometimes you can even get a few thousand in cash backs from the new providers that you refinance from.

23. Negotiate providers so you can save money and live better.

Ultimately, if you want to save money and live better, you can negotiate on your power, gas, and even insurance providers.

You can basically negotiate with any service that has multiple provider options. Hence, don't be afraid to switch providers if they don't give you a good deal.

How to save money on a low income?

It may seem impossible, but you can definitely save money even on a low income. Although, it will more likely get very challenging. But hey, at least you're saving, right?

You can follow the classic 50/30/20 rule. It all depends on how much you are earning every month. The main goal is to allocate at least 10-20% of your paycheck to save. Moreover, don't be too hard on yourself.

If you're unable to allocate a part of your income to savings this month, there's always the next time. Whenever possible, save money if you can.

Can I save money even if I'm living paycheck to paycheck?

Nearly two-thirds or 63% of Americans are living paycheck to paycheck. We cannot entirely blame the Covid-19 because there are also definitive factors that contribute to this statistic. There's the rising cost of living in some states, low-income pay, debts, among the few.

However, it is still possible to stash away even a bit of money when you're living paycheck to paycheck. Remember these two points that you can do. It's either you cut back on your spending or increase your earning capability (finding side-gig, part-time jobs, asking for a raise, etc.)

Read more: How To Stop Living From Paycheck to Paycheck – 10 Realistic Tips.

How to save more money regularly?

By regularly, do you mean daily, weekly, or monthly? Either way, YES, IT'S POSSIBLE. As long as you stay acquainted with your budget. Get aware of your expenses, how much you are keeping, and decide which areas of your life you need to focus on.

Furthermore, there are simple ways for you to save more money this 2022. You can cancel your gym membership which you barely even use, cut the cable cord, try DIY stuff, and you'll be amazed by how much easier you can do some things without paying someone else to do it for you.

Well, of course, if it requires particular expertise, you call in the professionals.

The formula is to create a spending plan (budget), identify areas you can cut back or reduce expenses, think of ways to increase your earning capabilities, and live within your means. Carefully assess if it's an actual need or a fleeting want. Again, your money or your life?

Read more: How to Save Money Every Month – 9 Simple Steps to Start Saving.

Save Money Live Better- Wrapping Up

Before I end this post, let me share this tweet I read somewhere with you. It goes by saying,

“Give $600 to a poor person, and it's gone in a week; give $600 to a rich person, and it's multiplied 10x in a few years or less.”

What do you think of this? Do you agree with this tweet?

Personally, I don't. First of all, what we most need today is compassion and empathy towards someone who has less. Here at TheFinanceBoost, we do not condemn someone who's struggling financially. Instead, we are here to provide actionable steps and practical tips that will actually help to boost your finances.

We understand that (following the above tweet) giving $600 to someone with no money, they have no choice but to use it to survive. On the other hand, those whose needs are already fully met, privileged, entitled, whatever you call them, can do anything they want from it and has a disposable amount to invest further.

Remember, the amount you have in your bank account doesn't define you as a person: no judgment here, my friend.

What we should do instead is to encourage everyone to make peace with their money.

Keep in mind the basic formula you must live by to save more live better; reduce your expenses, and increase your earning power.

Moreover, to save money live better means if you can save money on little things, it adds up to life's more amazing things.

Just like how Walmart claims to save the average family $3,100 a year no matter where they shop, ingrain save money live better in your blood and veins.

Therefore, what will you do with your savings?

What do you think of today's topic save money live better? Share your thoughts down below. We love to hear from you!