Topic: How is financial stability defined for you? - page 12. (Read 1437 times)

I guess you could define it as assurance that you will continue to have steady income enough to meet your needs.
To be honest this is gurantee for the "free" by faith that you will always have enough once you continue to be fruitful (by being fruitful I mean doing things that are good and useful to others, then yourself).

Enough provisions have already been made for the free throughout their stay on Earth. Once you realize this truth, you won't be too bother whether you are getting paid or not for your works, because you will always be taken care of to the extent that people who try to prevent this blessing could have all they have taken from them... the ones who genuinely bless you for your good works are blessed. It's just guranteed for the free.

Financial stability to me means the ability to solve primary, basic and future needs without stress, you don't necessarily need to be very wealthy to be financially stable, truth is, the more finances you make, the more financial burden you get, nobody is without a financial need, so the ability to meet this need without having to forgo another can be termed financial stability.

If I decide I need a vehicle and a land, and then I can't afford the both at the same time, but rather have to make lots of savings then am not stable enough, my ability to do both with ease is what qualifies me as a financial stabled person...

Personally I think the level of ones financial stability also depends on their income, someone who works as a staff in a firm obviously can not earn as much the manager and so their basic needs cannot be met using same process.

You do not expect the staff to meet up with what the manager/CEO would at the same pace, it doesn't mean the staff isn't stable, it only limits his stability.

For me financial stability would be defined if you are able to afford :
1. Good healthcare
2. Good education
3. Child care
4. Care for the elderly
5. Good earnings
6. Investments
7. Savings
8. Overall idea about spending money wisely
9. Future Plans
10. Retirement Plans
Things like that would be financial stability for me personally. It's not just these basic needs but also extra savings for unexpected situations.

We have the same take on this matter. Also, I can consider having financial stability if you have no debts to anyone. It is hard if you owe something from your friends or from the banks, as you need to worry about the payment for the debt. And yes, at least with savings that you can pull anytime, especially in case of emergency. We don't need to be rich to be considered financially stable, as long as we can provide our basic necessities without worry along with some savings, I consider it financially stable.

Not getting too much technical or deep about the explanation of what financial stable is, but in general, as long as we are capable to spend on basic and necessary things, while can also afford to spend on those unnecessary or emergency ones, without worrying about the whole money in circulation, that's what I called financial stability. Obviously, for that to happen, people should have a stable and fixed source of income.

With the pandemic happening, we now somehow realize what kind of business and investments are worth to risk some money as we saw those surviving assets and businesses that still dominate despite the pandemic. People can consider putting money on those as part of their goal to have financial stability.

The thing to understand is that "humans are insatiable" thus no matter how much money you have, you'd always naturally want some more, it's a normal human phenomenon, but that doesn't have any thing to do with financial stability. Being financially stable for me is being able to afford all your needs without having to forfeit any of them to get the other, for example you want to buy a shirt of $200, and also a shoe of $300, being able to purchase the two items without it affecting your funds for feeding or other things, then you can be said to be financially stable, it doesn't necessarily mean wealth or extravagance, it just means being able to get what you need, when you want to.

Stability and finance are words that simply do not match. The world moves, the economy moves and you cannot just sit on your assets and think that all is going to be fine if you are conservative enough about it. I guess that for me there is not such a thing as financial stability as life has taught me that it is the moment that you think you have achieved stability, something unexpected happens and changes the game.

Financial stability depends on individual perspective. To be financial stable has nothing to do with your income or assets. It's a measure of ease to which your total expenditure falls below your total earnings and a measure to which you have a left over for investment after all expenses have been done. I earn pretty reasonable amount each month but I wouldn't say I'm financially stable yet because my expenditure exceeds my income. Until I strike a balance I'm not financially stable yet

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 should not be about our current wealth, it is about how skilled, smart and intelligent we are to turn our knowledge and experience into wealth. There are politicians that were wealthy in the past but later became not wealthy again, some gamblers were lucky and won big amount of money but later they became broke. If someone that was once a millionaire can go broke, then financial stability is not about the wealth we have, it is about how productive we are skilled up to.

I think Financial Stability can be measured using the simple metric of having enough NetWorth. If your Networth is enough that it could support your living expenses comfortably for the rest of your life then you are at the topmost level of Financial Stability called financial freedom. If your Networth is enough to support you for next few years then you are financially very stable, if your Networth is enough to support you for 1-2 years then too I would call you somewhat financially stable, but if your savings can barely support a few months of your lifestyle then you are highly financially unstable. But this thing depends upon your family size too, best advice would be to create additional streams of Incomes by doing different works this would ensure that you never face crisis even when one of your income stream gets hurt.

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?