Topic: How is financial stability defined for you? (Read 1437 times)

for you, i quite salute you, you are not yet 30 years old but are already making money from various types of online/offline jobs.

i'm not really sure the meaning of financial freedom is different for everyone, the meaning of being financially stable in my opinion is when you no longer need to think hard about earning money, you can make money even when you sleep.  however as humans we have the responsibility to do the maximum thing to get money and make our family happy, achieving financial freedom is not easy, hopefully we can achieve that in the future.

Everyone's needs in life are different, some people like everything, they want everything others have, they like luxury and nobility...But there are also people who like things that are simple, idyllic and not too sophisticated…so the definition of financial stability or financial freedom will be understood in different ways by each person. We should not impose our thoughts on others and assume that they are not right just because they do not think like us. Respecting everyone's opinion is the right thing to do in life.

Your secure old age should be taken as a long-term plan that you should begin to implement at a young age. It's good if you manage to get a good pension, which will be enough for a normal standard of living, but often due to inflation, the majority's pension is not enough for this at all.

And besides, if you can take care of your pension on your own, then you can stop working before the state starts paying you a pension, you can determine the time when you want to rest and at the same time you will feel great. Bitcoin is able to make this possible and someone will take advantage of this opportunity.

In my own understanding financial stability is generally defined as having enough resources to cover one's expenses and achieve financial goals without excessive stress or worry.

 Whether there's such a thing as "too much money" is subjective and depends on individual perspectives and values. Some may believe that there's a point where accumulating more money becomes unnecessary or unfulfilling, while others may continue to strive for higher income to meet specific financial objectives or desired lifestyle.

 Feeling satisfied and successful in the financial sector varies from person to person. What constitutes a comfortable income and financial success depends on individual circumstances, goals, and aspirations. It's not just about the absolute amount earned but also about the ability to manage finances wisely and achieve a sense of security and contentment.

 Your approach to financial management, setting aside savings, and striving for incremental income growth seems well-balanced. As a 23-year-old student, you're already demonstrating responsible financial habits, and your long-term mindset is commendable.
 In the end, the pursuit of money should align with your values and overall life goals. Striving for financial stability and success is natural, but it's essential to also find a balance that allows you to enjoy life, pursue meaningful experiences, and invest in personal growth and well-being.

No matter what it is, that is their definition of financial stability because not all of us want to have a bed of money; others only want a comfortable bed, which again is not bad for both as they are striving to get it. Others may say that their definition of financial stability is very simple; others may find it complicated, but that is what they want. Again, let's just respect one another, as we are just working hard to achieve our wants in our lives.

And for me being financially stable is no longer having debt and having Bitcoin investments also stock investments whose dividends every year can be used to pay for life when I'm old. Indeed, everyone has a different understanding of financial stability, because as you said, how we are educated and where we live will greatly affect our mindset about finances, but for me having financial stability when old is more of a priority because when we are young there are many things you can do to produce and it is very limited when we are old, so stability must be started when we are young.

This is what I was talking about. It will always depend on our own understanding and situations. While others see financial stability as being independent from their parents' financial help, other may view it as being able to buy everything they set their eyes on without worrying if they'll have the money to survive the next day. We all have different backgrounds and community that influences the way we see and understand things such as financial independence.

Of course, everything varies and you have to have a plan. But, this talks about how we can sleep soundly at night and this also starts with ourselves, especially if we are already married. For example, if you already have a steady job. I think it starts with us as heads of families in setting priority boundaries. Make a monthly budget, keep track of expenses and communicate and be open with your partner. The latter requires practice, perseverance, discipline

Yes, we as members of society like gatekeepers have an important role in maintaining financial system stability because it will ultimately have an impact on state financial stability and contribute to national economic growth.

I could never had said it more simpler, your definition of financial stability is very simple as what you said is actually the whole concept of it because some humans need to feel financial satisfied once they can carter for children while others feel having that finance that can lead you to provide an extensive hand is simply the satisfaction they want, well as for me I define it to be a state where your needs and wants is easily accessible and to some extent without fear of losing it all

I think there is no too much money. I am a muslim and teacher teach me that everything that I do will give impact for me, even it is only little thing. I believe that there is another life after I die and I will get reward for everything that I did. having too much money can be positive or negative, it depend on the person. If I use the money for bad thing then the money is too much for me, but if I use it for good things then it is not. with a lot of money I can give more to the poor, build hospital, orphanage, school and etc. but in case of financial stability, I think it is mean that we can create our own business which make a lot of money, maybe roughly 10 times than employee's salary. and we don't need to work as employee.

Financial stability is basically tailored to one's understanding and perception about finance and what their satisfaction about it means. so, to some people, stability in finance means to afford their daily needs while to others, it means the ability to afford their life's wants and to some it simply means ability to reach out to a larger multitude with financial challenges and others it means their ability to live a luxurious lifestyle.

Yeah right, if you have that such reserves where you can use money without fearing that it will affect your saving or you might be needed to think on how you can cover those amounts that you spend, though likewise, still going to depend from how a person live his life, if you are good being contented with what you have, a small business that will cover your needs and let you enjoy if you wanted to take some tour and the money that you are spending is good enough to cover your needs.

There are differences as people are different in a way they look at it and how they define financial stability.

To me, financial stability is described as the freedom to have the things we want, there is no dream of owning anything because we can buy everything, of course it is not easy to achieve financial stability because the current economic conditions make anyone have to make savings.

To me, financial stability is described as being able to "develop" rather than living hand-to-mouth, and your finances being proactive rather than reactive; always putting out fires.

The first is learning to live below your income, and the second is having an automatic transfer set up, which pulls a set amount out of your main bank account (the one into which you deposit your paychecks) and deposits it into a no-touch account. The pre-set amount should be enough to put you in a bind; you'll be alright because your spending patterns will alter to allow for this aggressive withdrawal. We will all spend whatever money we have available.We will begin to develop wealth/financial freedom once we take aggressive actions to get money away from ourselves and maybe into an investment account like Betterment. First and foremost, pay yourself!...next your debts, and last your pleasure.this is not to be unclear with "spend it on yourself first.

I think financial stability is a financial condition that can make us buy or do anything, for example if we want to travel around the world, it will not make our money drop, this certainly requires hard work and smart work so that we can get a large income.

This is an interesting topic if I may say so. In my opinion, financial stability is when my income is smooth, there is no debt, and there is a reserve of money for emergencies. I'm a little jealous of those of you who are young but can already make money to make ends meet and also have savings. Maybe by sharing the knowledge you get with other friends it will also have a positive impact in the future.

Financial stability in my own definition would be worry less day in my entire life. Means i have investments, assets, funds, saving and other monetary and digital possession that solely consider mine.

I will consider my financial condition to be stable when I already have Passive Income and of course it must be in a condition where the amount of money generated is far greater than the amount of needs that must be completed. This means more income than expenses.

But getting financial stability doesn't necessarily make us feel satisfied with what we already have or it doesn't necessarily make us satisfied with what we have achieved. Because humans basically like new things and always want more and more. Not only about greed but this trait has naturally become our instinct.

In my view having financial security while you getting into marriage life is really important. However it isn't a must thing based on incidents happening around. Love can't feed, but it gives an energy that would make him/her move towards success. It is the thing that makes you grow together than making individual financial stability. I've come across many people who hadn't married to make themselves financially stable. By then they've crossed certain age and missed the love life and now they weren't able to get an arranged marriage. This is the situation when we go behind financial stability.

I highly agree, we must secure our finances before going into a marriage.  Unless we marry a super-rich partner, we must ensure that we are able to support our family at all times.  Love is not enough since it can't feed a hungry mouth.  So if we wanted our family to have a strong foundation, aside from respect, trust and love, we must make sure that we have the finances to keep it going.