How is financial stability defined for you? - page 10.

fullhdpixel

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Quote from: SquallLeonhart on November 04, 2021, 01:21:18 PM

Financial stability in my view is, earning and multiplying money in a way that we do not need to scarify anything due to inflation rate. At the same time we need to remember that stable financial level will upgrade us to higher standard of living over the time.

Yes, I agree that financial stability is something which is like we are not getting suffered by inflation over the time. But, if you are getting paid from your regular job then your salary will increase along with inflation rate then you never need to worry about financial stability. In this way financial stability must be a concern for business people and for freelancers and for all the people who are having inconsistent income stream and there will be no hike against inflation rate.

Bitcoin is a deflationary currency hence it will help if you are saving it for lifetime to fight against inflation even you are not having a regular income stream or your income not increasing along with inflation rate.

pealr12

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To me I would say financial stability is being able to afford the basic things of life and have extra to afford some luxury items whenever they are required, like the @op said, this topic is quite controversial particularly because different people with the different perception of this, some would prefer to have loads of money to be satisfied and others will be satisfied with the little amount they have

el kaka22

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Quote from: geegaw on November 05, 2021, 09:19:18 AM

I think when we have financial stability, we often spend more miscellaneous, sometimes it doesn't have much specific purpose, it just seems to be a temporary lust because at this point, we are already so knowledgeable about our own finances, the petty expenses will no longer be so important when our financial resources are fully compensated and still stable. In theory and such visualization may make us feel that this path is simple but finance is one of the areas of risk, for example, investments and businesses always consume a lot of capital but sometimes there is no response

I have to say in a middle class type of situation it all depends on one thing to go wrong. The past 2 months have been one of the biggest earning months of my life and it was also one of the highest spending one at the same time. So that means if you have a great life that you are sure that you could save aside if everything goes right, it could go wrong all of a sudden, one sickness, one technical item broken and so forth and suddenly you spend it.

My PC is basically "broken" it is kept safe with horrible stuff basically and it may never work very soon (or just replace some stuff and hope to start again), that means I still have a lot of things to pay let alone the ones I already paid for because of some hospital stuff. When you look at the income I have, it is a high level for the nation I am in, it is really good, but at the same time it is not enough. Stability is not something that is guaranteed, if you have something unexpected, it keeps getting drained.

xSkylarx

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Quote from: skarais on November 05, 2021, 11:09:36 AM

Quote from: dificanovi on November 05, 2021, 08:13:05 AM

People who are able to stabilize their finances are people who do not like to spend their money on unimportant purposes. Many people manage their finances so that the money they have doesn't just run out, they are even able to look for opportunities to develop their money by investing and trading.

I tend to think that stability is when a person can balance their expenses, income and investments without causing any other financial problem. Saving without spending a lot of money on things that are not necessary in my opinion is not the meaning of financial stability, but saving expenses.

If you're on the low end of the income spectrum, you may have difficulty saving because your expenses on basic necessities are equal to your salary. Regardless of how you look at it, both sides have a point, but I think it's difficult to save when you're on the low of the income because your expenses on those necessities are equal to your salary. But for me, financial stability means that your income does not fluctuate, and your expenses do not fluctuate as well.

bitLeap

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Stability is only about managing finances with stability and being able to allocate the money you have where it should be. In a general perspective, of course, this becomes a reference for those who have long-term demands and can review the results at a later date. Therefore, several principles of managing a diverse economy make overall economic stability dependent on the adjustment of living conditions that support it. Is the need in the month above the average, or does the need exceed the salary you get per month?

Ultegra134

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Quote from: Poker Player on November 05, 2021, 01:51:58 AM

Quote from: Ultegra134 on November 03, 2021, 01:34:06 PM

Do you believe that there's a thing as too much money?

In general, no, but there are cases in which they do, such as people who win the lottery or get rich very quickly and end up dying of overdose or bankrupt after a few years.

It is not in 100% of cases, but I would say that in most cases it is due to earning money too quickly, coupled with mental and/or self-esteem problems.

Well that's mostly true, I even said it myself, of course, and I wouldn't mind earning more money. However, I don't want money to determine my goals/future, on the contrary, I'm thinking of money as a tool to acquire what you wish and assist you in a better life. I don't want it to be my ultimate goal.

Quote from: lovesmayfamilis on November 05, 2021, 03:26:35 AM

Quote from: Ultegra134 on November 04, 2021, 01:08:43 PM

I live (and rent) with my girlfriend, and we're making ends meet without worrying too much about money. On top of that, we're managing to save a decent amount from paycheck to paycheck, while we also went on an 8-day vacation in September. Currently, I don't have to worry about a family as you're mentioning, it's just the two of us.

In fact, financial stability for each is determined according to his own well-being.
You are right as long as you are satisfied with the state of affairs such as a rented apartment and the absence of any things in your life, but at the same time you do not feel defective, you are happy.
But if you look at some people with a lot of capital and at the same time regularly worrying about constant profit, they, in my opinion, do not have financial freedom.
As long as we feel comfortable in ourselves, our financial freedom will remain stable.

Well, as I said, I'm doing fine, for now. We can't determine how our future will be, but for now, I'm doing fine I guess. The goal I'm pursuing is to have a fulfilling life, I'm not sure on what degree I'm going to accomplish it, but at least I'll try.

skarais

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Quote from: dificanovi on November 05, 2021, 08:13:05 AM

People who are able to stabilize their finances are people who do not like to spend their money on unimportant purposes. Many people manage their finances so that the money they have doesn't just run out, they are even able to look for opportunities to develop their money by investing and trading.

I tend to think that stability is when a person can balance their expenses, income and investments without causing any other financial problem. Saving without spending a lot of money on things that are not necessary in my opinion is not the meaning of financial stability, but saving expenses.

geegaw

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Quote from: dificanovi on November 05, 2021, 08:13:05 AM

People who are able to stabilize their finances are people who do not like to spend their money on unimportant purposes. Many people manage their finances so that the money they have doesn't just run out, they are even able to look for opportunities to develop their money by investing and trading.

I think when we have financial stability, we often spend more miscellaneous, sometimes it doesn't have much specific purpose, it just seems to be a temporary lust because at this point, we are already so knowledgeable about our own finances, the petty expenses will no longer be so important when our financial resources are fully compensated and still stable. In theory and such visualization may make us feel that this path is simple but finance is one of the areas of risk, for example, investments and businesses always consume a lot of capital but sometimes there is no response

LogitechMouse

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When you have enough skills and knowledge enough for you to have some income that will cover your expenses as well as savings and some investments as well. I think if you have this then you can consider yourself as "financially stable" already.

I think another definition that I can say is when money isn't your problem anymore. I mean if you're not having a problem financially then you can consider yourself as a financially stable. Well, different people have different perspective regarding this but I think there is one similarity in our opinions. That if you have enough money then you can be stable.

dificanovi

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People who are able to stabilize their finances are people who do not like to spend their money on unimportant purposes. Many people manage their finances so that the money they have doesn't just run out, they are even able to look for opportunities to develop their money by investing and trading.

Natalim

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One cannot be financially stable if he does not understand how to run his money.

My understanding of financial stability is that I would not anymore worry about my future, I have enough money to cover my daily expenses and all my needs, and probably my wants too. I understand that I can only achieve that if I have a profitable business that would continue to generate money for me. My ultimate dream in life is to be in a position where I let my money work for me. With that said, I'm hoping one day I'll be successful in my journey in the crypto space.

shield132

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How is financial stability defined for you? - I'll answer this question and I would say that Financial stability for me is defined by following - Have you ever lived in Europe? In countries like Switzerland, Sweden? Or have relatives here? In these countries, there are min lower salaries and these min salaries are really enough for you to live okay, have the basic things and still some fun even if you pay the rent. Great health insurance, great auto insurance in cheap prices. If something happens to you, the least thing to worry about is money. 30 days total paid leave a year. Did you lose your job? Don't worry, the government will help you for a good time.
That's financial stability but at the same time I want to say that I am not big fan of European system, I prefer America in this case. You can earn great money in USA compared to Europe, rent is even better here, everyone in USA has bigger and better house compared to Europe. Just see, all the top companies and entrepreneurs are from USA, this country is more for people with greater aims and not for family-guys type of people, don't get wrong with me, I'm saying that politely.

Leviathan.007

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Being financially stable can be different for anyone and people may have different definitions of being financially stable depending on their situation and current financial level. For example, if you ask someone who is poor he will say I'm financially when I have enough money to eat food and buy clothes but everything cab be different if you ask the same question from people who are working as employees in a normal company. In this case, if you ask me I would say I'm financially stable if I have nought money per month to to buy normal stuff for myself and my family.

Mauser

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Quote from: Ultegra134 on November 03, 2021, 01:34:06 PM

How do you define financial stability for yourself? Do you believe that there's a thing as too much money? With what kind of income would you be satisfied and felt successful, at least in the sector of finances. Is it the more, the better?

Financial stability means for me to have some savings that gives me and my family security in the case unforseen problems arise. For example if I crash my car tomorrow and the insurance wouldn't cover anything, then financial stability means to be able to quickly get a new one. This doesn't mean to have all the money as cash invested, but rather the chance to take out a loan against assets like an apartment. Or in case of losing my job, then I need to be able to cover atleast 6 months without income.
There is definitely people with too much money on the world. All the super rich with more than 1bn USD is too much wealth concentrated in one person. I have nothing against successful people who earn a lot of money, but having more money than you can ever spend in a lifetime is wrong.
For me the mix of investment income and a monthly salary is enough, we should all be reasonable towards other people.

molsewid

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Quote from: Cling18 on November 04, 2021, 09:50:59 AM

As for me, financial stability is living a comfortable life where you don't have to face chaos just to sustain your financial needs. It isn't about having luxurious things but rather being happy for your attainments where you don't have to spend most of your time working and you don't have to worry about how to survive each day.

When it come to financial stability I think we all have the same description or interpretation about this aspect and that is having a comfortable life even if there's a big problem that comes on way facing chaos is not that big deal. Luxuries and leisures were inevitably become part of the lifestyle of a person that living a comfortable or with financial stability. In my case I think that I am still in the long way to achieve my financial stability.

lovesmayfamilis

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Quote from: Ultegra134 on November 04, 2021, 01:08:43 PM

I live (and rent) with my girlfriend, and we're making ends meet without worrying too much about money. On top of that, we're managing to save a decent amount from paycheck to paycheck, while we also went on an 8-day vacation in September. Currently, I don't have to worry about a family as you're mentioning, it's just the two of us.

In fact, financial stability for each is determined according to his own well-being.
You are right as long as you are satisfied with the state of affairs such as a rented apartment and the absence of any things in your life, but at the same time you do not feel defective, you are happy.
But if you look at some people with a lot of capital and at the same time regularly worrying about constant profit, they, in my opinion, do not have financial freedom.
As long as we feel comfortable in ourselves, our financial freedom will remain stable.

crwth

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I look at financial stability as something as you don't have to worry about what you will eat tomorrow or for a long time. It's having the peace of mind that if somebody within your immediate family gets sick, you wouldn't have to worry much about where you are going to get the funds you have. It's almost as if you won't have to worry about sustaining the current expenses that you can incur with that.

There's certainly no limit to what you can have or gain with your financial aspect as long as you do the right things and do not step in other people's way. You got rich the right way; I think you will be happy.

It's all about health for me.

Poker Player

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Quote from: Ultegra134 on November 03, 2021, 01:34:06 PM

How do you define financial stability for yourself?

I would define it as the situation I am currently in. I am also getting paid above average where I live. After a recent promotion well above average, and I also have other sources of income like you, and savings and investments.

I would like to have more money, I don't need much more either, but money gives you the freedom to do many things. But going back to what you ask, I would define financial stability in a personal way, that state in which your income/investments reach such a point that they become secondary.

Quote from: Ultegra134 on November 03, 2021, 01:34:06 PM

Do you believe that there's a thing as too much money?

In general, no, but there are cases in which they do, such as people who win the lottery or get rich very quickly and end up dying of overdose or bankrupt after a few years.

It is not in 100% of cases, but I would say that in most cases it is due to earning money too quickly, coupled with mental and/or self-esteem problems.

michellee

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Stability finances for me are we can fill our daily needs every month without having a problem, even if sometimes we have an urgent thing that can come anytime. We can also donate some money to people who needed while we still have the other money in our saving or cash. The important thing is we can fill our primary need for our lives and that is not about how much money we can have because that will be related to the grateful feeling, which we can not be described with words.

If we have more money monthly, we can use it for another thing to grow the amount in the next months so our finances become more stable and we do not feel a lack of financing.

Hydrogen

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Most would glance at wages, job status and career options to define financial stability.

But what role do governments, banks, job markets, regulatory agencies and similar institutions play in determining whether people can happily say they are financially stable?

Financial stability can be difficult or even impossible to obtain if the institutional side of the economy isn't well managed. As is perhaps becoming more relevant as further COVID policy is unveiled.

Wages, job status and career options can trend negatively under long term inflation, regulatory restrictions, tax hikes and similar negative economic trends.

If all of the above is true then true financial stability might be defined as a public that is informed enough to support the right economic policies, to ensure things like inflation do not persist over the long term.

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