How is financial stability defined for you? - page 11.

Lanatsa

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Quote from: lalabotax on November 04, 2021, 05:32:50 PM

For me, financial stability means:
1. It is enough for me to accommodate all needs for me and also my family, both for present needs and also for future needs or saving
2. I have savings for my future, my children education, and also health
3. I have a utopilot business
4. I have passive income even it is not high enough but enough for us

5. Could make out investments without needing up some loans
6. Have savings for emergencies
7. Could expand of ventures you are dealing with
8. Doesn't have any credit or loans
9. Buying things that you do want or like
10. Leverage/Passive income.

Etc.

lalabotax

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For me, financial stability means:
1. It is enough for me to accommodate all needs for me and also my family, both for present needs and also for future needs or saving
2. I have savings for my future, my children education, and also health
3. I have a utopilot business
4. I have passive income even it is not high enough but enough for us

adzino

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There is no such thing as too much money. At least for most people. They have money, they will want more. There is no end to it. More like a race to be more rich than someone else. I would say someone is financially stable if the person has a stead flow of money (like from a stable job or investments with least risk), has no roof over their head, food and shouldn't have to worry about paying any bills (hospitals included). Even if the person loses the job, he wouldn't be in a big trouble and will have enough money to survive till he finds his next one. In other words, he doesn't have to worry about money at all.

skarais

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Financial stability if measured by each individual may be very different. I mean, someone with a steady income still can't have stability because of the amount of money they have to spend to cover their need. But if we have gratitude, it will be quite enough. A person with an income of $1K per month has to pay a loan of $500-$850 every month and the rest is to cover the necessities of life, do you think this person is financially stable? But when we have gratitude, stability will form naturally without having to force ourselves to fulfill a luxurious lifestyle.

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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?

The subject of money in particular is controversial, speaking for myself, I'm working a regular job, getting paid above average each month, while also doing some online work such as signature campaigns and staking coins on various platforms. I'm making enough money to make ends up and on the plus side, setting aside a decent sum of money from my salary, as well as any other amount earned online, is set aside as savings.

While in particular, I'm pretty satisfied with the amount of money I'm earning, I definitely wouldn't mind earning 10% or 20% more, I'm not sure though, if I'd say the same even if I supposedly received the previously mentioned raise, which is falling to the category of, the more, the better.

However, the general idea is that I'm currently okay, if I were to pursue something in life, in terms of money and finances, it'd be to make enough money to make ends meet and have a decent amount of purchasing power, while at the same time, having a savings account. This is something that as a 23-year-old student I've managed, but I have a pretty long way to go.

What's your take on this?

Financial stability is something that talks about from the word itself which is stable whether you do make out some investment or purchases then you wont

really be minding much whether you dont already have funds to use for other possible outcomes that could happen which only few people are really on this

certain state because not all are really that rich if you do ask me.When you reach out this particular condition then consider yourself to be wealthy
or somewhere on the bracket could be called rich people.

Fortify

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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?

The subject of money in particular is controversial, speaking for myself, I'm working a regular job, getting paid above average each month, while also doing some online work such as signature campaigns and staking coins on various platforms. I'm making enough money to make ends up and on the plus side, setting aside a decent sum of money from my salary, as well as any other amount earned online, is set aside as savings.

While in particular, I'm pretty satisfied with the amount of money I'm earning, I definitely wouldn't mind earning 10% or 20% more, I'm not sure though, if I'd say the same even if I supposedly received the previously mentioned raise, which is falling to the category of, the more, the better.

However, the general idea is that I'm currently okay, if I were to pursue something in life, in terms of money and finances, it'd be to make enough money to make ends meet and have a decent amount of purchasing power, while at the same time, having a savings account. This is something that as a 23-year-old student I've managed, but I have a pretty long way to go.

What's your take on this?

I am saving (or investing) towards financial freedom by building a stream of dividend paying stocks that automatically reinvest. It was Albert Einstein who once said that compounding is the 8th wonder of the world and it is very true. It start's off very slow, putting in as much as you can each month, but after a few years the rewards are amazing and start a massive snowball effect - gathering faster and faster as time moves on. The dividends paid out by companies along with your continual investment grows into a steady stream of income that you won't have to work for in future. Once that pot grows big enough it will mean not having to work (if I want) and that to me is what defines real financial freedom.

jaberwock

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

The subject of money in particular is controversial, speaking for myself, I'm working a regular job, getting paid above average each month, while also doing some online work such as signature campaigns and staking coins on various platforms. I'm making enough money to make ends up and on the plus side, setting aside a decent sum of money from my salary, as well as any other amount earned online, is set aside as savings.

While in particular, I'm pretty satisfied with the amount of money I'm earning, I definitely wouldn't mind earning 10% or 20% more, I'm not sure though, if I'd say the same even if I supposedly received the previously mentioned raise, which is falling to the category of, the more, the better.

Your life is just as mine, I also have a regular job which I do from Monday to Friday, and then my second source of income is online jobs, like this signature campaigns, and trading, and the rest of them. As for me, I think financial stability is when you are able to handle the expenses that are coming your way, you know, like being able to take care of the responsibilities you have, such as taking care of your family and your loved ones. That’s really what I see as financial stability, because you don’t have problems that are really going to like be that serious to you.

As long as you’re able to tackle them, then you are stable financially. But it wouldn’t also be bad to earn more money, that’s what everyone is praying for as long as you’re going to be doing it The right way.

Issa56

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What I mean by financially stable is the ability to be able to satisfy all your financial needs, if you are able to get afford all what you need at any moment without seeking for any financial help then I believe you are financially stable. You must not have excess money before you can be financially stable even if you are having little.

SquallLeonhart

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

The subject of money in particular is controversial, speaking for myself, I'm working a regular job, getting paid above average each month, while also doing some online work such as signature campaigns and staking coins on various platforms. I'm making enough money to make ends up and on the plus side, setting aside a decent sum of money from my salary, as well as any other amount earned online, is set aside as savings.

Earning above average doesn't mean that you are going perfect to secure your life to lead like how you are doing even after retirement because in almost all the countries, below average people are in more number which drags the per-capita into lower side. If you are going to reduce your requirements after retirement then your current earnings may match your requirements.

You must invest up to 20% of your earning into something which will be getting you higher interest than the inflation rate of your country. Otherwise, your standard of living may get affected after retirement.

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.

lucates

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Quote from: dothebeats on November 03, 2021, 04:00:56 PM

My definition of financial stability is simple: If I don't have to worry about any of the mortgage, hospitalizations, vacations, and food for the rest of my life, that's financial stability. I'm not materialistic, nor do I want to be uber rich. I just want to live a comfortable life. Most of us define financial stability as having lots of houses, cars, and vacations on picturesque countries every year, while in reality being financially stable just means that you'll still survive even if you are to lose your job and remain jobless for quite some time.

Financial stability is building a financial system that can function in good times and bad times. That a person can able to survive or overcome all the good and bad things that happen in the economy. That meets the needs of average families and businesses.
That's a person who can buy house, car, spend for education, retirement, etc. They can easily manage their failures or losses. Is a part of financial freedom. In my persuasion financial stability is whenever we make any decision money should not be the concerning factor.

Ultegra134

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Quote from: Gozie51 on November 04, 2021, 05:29:51 AM

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

While in particular, I'm pretty satisfied with the amount of money I'm earning, I definitely wouldn't mind earning 10% or 20% more, I'm not sure though, if I'd say the same even if I supposedly received the previously mentioned raise, which is falling to the category of, the more, the better.

So is what you earn now enough to take care of all your needs including health bills?

As a single person of 23years, you may not have a family of your own, that is no wife no children but you definitely have mother and father. Therefore is your earning able to take care of them? You can say someone is financially stable when they are able to take care of there need and those dependent on them at any time they are called upon. Also being financial stable is not about having enough of food and drinks to dine with but also able to extend to others at least some measure because if you don't have excess you may not give out if you don't have the spirit of giving.

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.

el kaka22

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When you have financial stability, it means that you should be able to survive with minimal needs without needing to work. Of course it doesn't mean castles and best cars lined up and all that, I do not need that but if you could survive, like have a house or be able to rent one forever, have one car, even if a mediocre peugout one or something, have enough to pay for your bills and food and stuff and even maybe save some aside from future clothing, hospital, educational or whatever needs that you may have, childcare and such, if all of that is paid then you have financial stability.

But the logic behind stability suggests that if you are making an income, and it is stable enough, doesn't go up or down too much then THATS the real stability. Doesn't mean that you can pay for stuff, you could be both poor and also have financial stability at the same time, which is the worst kind of stability.

mu_enrico

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There's no such thing as having too much money, at least for bright people. The more money you have, the more things you can do, build, create, and, most importantly, fund projects that match your vision. However, for stupid people, they can have too much money since they can't think of anything other than spending and consuming goods and services.

The idea of financial stability is also for workers who live from a stable paycheck of boring jobs. Productive people tend to earn more and more, and they see stability as a stagnation.

Silberman

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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?

The subject of money in particular is controversial, speaking for myself, I'm working a regular job, getting paid above average each month, while also doing some online work such as signature campaigns and staking coins on various platforms. I'm making enough money to make ends up and on the plus side, setting aside a decent sum of money from my salary, as well as any other amount earned online, is set aside as savings.

While in particular, I'm pretty satisfied with the amount of money I'm earning, I definitely wouldn't mind earning 10% or 20% more, I'm not sure though, if I'd say the same even if I supposedly received the previously mentioned raise, which is falling to the category of, the more, the better.

However, the general idea is that I'm currently okay, if I were to pursue something in life, in terms of money and finances, it'd be to make enough money to make ends meet and have a decent amount of purchasing power, while at the same time, having a savings account. This is something that as a 23-year-old student I've managed, but I have a pretty long way to go.

What's your take on this?

What happens is that everything has a different idea of what this means, there are some that imagine a lifestyle with all kind of luxuries and for that to happen you need a massive amount of money, but there are others that are more realistic like you and are happy with a life in which they can obtain some luxuries and have some money to spare to save, in my opinion you are doing things right especially since you are so young, so I would not worry too much about it, just give it enough time and you will be way ahead of your peers when it comes to money.

Alert31

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In my own opinion, financial stability is capable for everything in terms of finances'. You have efficient sourced of income, with enough or more savings and can survive from any financial shortage.

Cling18

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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.

goldkingcoiner

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I think if one is financially stable, then that does not necessarily mean that one has a lot of money or investments. I believe financial stability relies on two things first and foremost:

1. You have income sources which are secured and cannot be taken away from you.
2. You have a money deposit (wallet) which cannot be frozen or taken away from you.

Number 2 is definitely reached if you are your own bank. Aka you own crypto in your own crypto wallet. The first one still needs to be developed a little bit but in the future I think most of our income will be crypto based, therefore nobody will be able to take it away from you.

As far as being rich goes.... I don't care about being rich. If you have a lot of money, you aren't rich, you're just a collector. Roll Eyes

No single human in this world needs billions of dollars. In fact, thats the kind of greed that could end the world. People shouldn't have that kind of power....

ChiBitCTy

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I guess this really just depends on your own personal feelings, and not so much feelings of others in "society". Myself personally I would always like to be making more money than I am. I've worked quite hard to get to where I'm at, at this point in my career so obviously making more money is something that is important to me and that I've been striving for. Financial stability to me though would mean having a roof over your head, having enough money to pay your monthly bills, not go to bed hungry, have healthcare etc.

Koro-Sensei

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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?

The subject of money in particular is controversial, speaking for myself, I'm working a regular job, getting paid above average each month, while also doing some online work such as signature campaigns and staking coins on various platforms. I'm making enough money to make ends up and on the plus side, setting aside a decent sum of money from my salary, as well as any other amount earned online, is set aside as savings.

While in particular, I'm pretty satisfied with the amount of money I'm earning, I definitely wouldn't mind earning 10% or 20% more, I'm not sure though, if I'd say the same even if I supposedly received the previously mentioned raise, which is falling to the category of, the more, the better.

However, the general idea is that I'm currently okay, if I were to pursue something in life, in terms of money and finances, it'd be to make enough money to make ends meet and have a decent amount of purchasing power, while at the same time, having a savings account. This is something that as a 23-year-old student I've managed, but I have a pretty long way to go.

What's your take on this?

In this world full of competition, specially for us the younger generation, I think I could settle for a 2K$ monthly income. It is much enough to have save for a house, provide food for your family, and save atleast 300$ a month. In terms of the question of believing in having too much, well human nature has always striving for much more. Unless you can buy everything you want and everything you see, there's no such thing as too much.

Gozie51

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

While in particular, I'm pretty satisfied with the amount of money I'm earning, I definitely wouldn't mind earning 10% or 20% more, I'm not sure though, if I'd say the same even if I supposedly received the previously mentioned raise, which is falling to the category of, the more, the better.

So is what you earn now enough to take care of all your needs including health bills?

As a single person of 23years, you may not have a family of your own, that is no wife no children but you definitely have mother and father. Therefore is your earning able to take care of them? You can say someone is financially stable when they are able to take care of there need and those dependent on them at any time they are called upon. Also being financial stable is not about having enough of food and drinks to dine with but also able to extend to others at least some measure because if you don't have excess you may not give out if you don't have the spirit of giving.

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