To be saved is to believe that Jesus Christ died for us, in our place (Romans 5:8).
To be sanctified is to let Jesus Christ live in us (Galatians 2:20).

Jesus Christ FOR you and me is Salvation; Jesus Christ IN you and me is Sanctification.

Points to ponder:
Are you saved? In other words, have you believed in Jesus and acknowledged that he died for you?
And if you are saved, are you being sanctified (daily) and conforming into his perfect and holy image? In other words, do you allow Jesus to live in you?
My prayer is, “Lord sanctify me, by being in me so that I may be in you” (Ephesians 5:1); What is yours?

Romans 5:8-10 (KJV)
8 But God commendeth his love toward us, in that, while we were yet sinners, Christ died for us.
9 Much more then, being now justified by his blood, we shall be saved from wrath through him.
10 For if, when we were enemies, we were reconciled to God by the death of his Son, much more, being reconciled, we shall be saved by his life.

Galatians 2:20 (KJV)
20 I am crucified with Christ: nevertheless I live; yet not I, but Christ liveth in me: and the life which I now live in the flesh I live by the faith of the Son of God, who loved me, and gave himself for me.

Related post: Dead Jesus and Living Jesus