Topic: How is financial stability defined for you? - page 3. (Read 1437 times)

When it comes to satisfaction and having a lot of money, that can be true but on the other hand, we also have our own standards in this regard and a lot according to us does not mean a lot according to others so things like this only depend on our judgment and standards.
But at the end of the day, everyone will agree that money is one of the things that gives people stability in life.
On the other hand, there are some things that are actually a problem because actually I think almost everyone has the opportunity to get the same rights in financial stability but the problem is the constraints from ourselves such as a big ego and regulating the hedon nature for ourselves which makes it difficult for us to get that.

I think that I will answer as most of the guys write in this thread - in order to feel financial stability, you need to have more money. It doesn't matter what it is - crypto currency, fiat or bank deposits. Then you will feel much calmer, and not count every penny. I know exactly what I'm talking about, because before the crypto currency, I lived from payday to payday and could not postpone anything. I was scared. I was constantly counting expenses, writing off each of my purchases in a special application. And it was terrible! And then I learned how to trade on the cryptocurrency market and was able to earn.
And this small deferred amount makes my condition much calmer!
And I am very grateful to this forum.

You are right that both job and business are very important for financial stability. I think one can become very financially stable if a business is done instead of a job. Usually the income from the job barely covers our expenses. People who run their own business are always very financially stable as compared to a job. People who are dependent only on job should have side business along with job.

I think you will need to work harder to achieve financial stability in the current era, only then will you be able to achieve financial freedom. I think hard work is the basic condition for any business to be stable and successful. It is everyone's desire to find an easy income to stay financially stable but it is not that easy.

Absolutely true. I would say I am already financially stable when the time comes that I would no longer have to worry about the impact of out-of-budget expenses on my finances. Also, when the time I won't feel guilty when I spend, and when I don't feel deprived when I set aside savings.

Everyone wants financial stability, but it takes a lot of commitment and discipline to prepare and work on it. It all starts with our initiatives to set a clear financial goal, enhance profitable contributing skills, and be consistent in our mindful spending and saving habits. It goes a long way, but in the end, we will also be the beneficiaries of it.

Money is a great tool used to distract the rest of the world from the neferous activities happening in the world. A good number of people who think they're financially free still ask withing themselves if indeed they're free from financial troubles. Money is never enough, not even for a country's president. The world consists of levels, which people in the very top do not bother about money but concentrate mainly on ways or techniques to control the world. Money is being printed and only a few amount of the money is channelled to the cooperate world, those who earn weekly or monthly. Meaning that the rest of the money can be assumed to be with the 1%. Hence, for those who don't belong to this category can feed their ergo with financial stability when they make a good amount of the little money circulating among the masses. In a simple term, I'd call financial stability as having a good number of people who work for us and remit money into our account weekly or monthly. Maintaining this for a longer period can earn us power to see oneself as financially stable.

Mostly people will define financial stability is that they can buy what they want even luxurious nonsense things and able to eat on expensive restaurant on daily basis and got sick because of unhealthy food and lifestyle. You are right, financial stability means that you have emergency funds in case of an emergency as well as paying bills and buying food without any problems. That is a somewhat stable life, no fancy or other things, but again, others have their own definitions, and others are the same with us, but again, we can't blame them. Let's just focus on ourselves rather than others.

I think that money is a means to an end, not an end in itself. Money can provide security, freedom, and opportunities, but it can also bring stress, greed, and envy. Therefore, I think that financial stability is not just about how much money you have, but how you use it and how you feel about it.

For me, financial stability means having enough income to cover my basic needs and wants, without compromising my health, happiness, or values. It also means having enough savings and investments to prepare for the future and cope with unexpected events. It also means having enough generosity and gratitude to share with others and appreciate what I have.

I don’t believe that there is a thing as too much money, as long as you earn it ethically and spend it wisely. However, I do believe that there is a point of diminishing returns, where more money does not necessarily bring more happiness or satisfaction. In fact, some studies have shown that after a certain threshold of income, people’s well-being does not increase significantly or may even decline.

For me, the kind of income that would make me feel satisfied and successful is not a fixed amount, but rather a relative one. It depends on my goals, needs, preferences, and circumstances. It also depends on how I compare myself to others and how I measure my self-worth. I try not to let money define who I am or what I can do.

I agree with you that it is natural to want more money, as long as it is not at the expense of other aspects of life. I also agree with you that it is important to have a balance between earning, saving, and spending money. I think that money can be a tool for good or evil, depending on how we use it and how we view it.

I feel like for me to become financially stable is to be able afford all my regular expenses + couple sudden/emergency ones. (I would count instant necessities at home like electric system or water idk). Some people think more on this and they say, to be financially stable you need to make more money than your wage so you would be able to outspend yourself sometimes. I personally don't count luxuries as necessary and not a part of bills to be taken care of to become financially stable.

As long as it's cater all the things I need for sustaining in life. Basic needs are an essential thing this you can survive for the daily basis but the thing is it's enough or not. If it is with an extra assets and good cashflow you can sustain your life until you die but if not for me it's consider still not a financial freedom once you experience how does the reality you will define or analyze to yourself that it's enough, you need more. Reason why you don't let those tardiness conquer it's all about your future.

You could buy things without any problem and this is something signifies that you are really that financially free or having that capacity on doing so without breaking a sweat but before on reaching out

such condition then this is something that wont really be that so simple or something that could be achieve by anyone.This is why we are thriving our very best on trying to reach out this kind of condition which is of course that wont really be that easy and you would be passing up with tons of trial and errors on which you would really be focusing on trying out to sustain or solved out.
This is why it would really that case to case basis because not all would really be reaching out this state. How good on feeling if you could be able to buy things that you do love to purchase out without breaking your bank or wallet or having a sweat. 

To me, financial stability is simply when you can afford everything you want without breaking a sweat. If you want to get a car for example, you don't have to plan for it and save for it, you just get the car and you don't have to forfeit anything to get the car.
Financial stability is different for different people, but as far as you can afford whatever you want then you're financially stable to me.
A person may be earning well and making a good amount of money, but there are things he will love to do that cannot do, simply because there is not enough money, that means the person is not financially stable.
Or it may be that an energy happened and money is required urgently and he can't afford it in a short period of time, to me he's not financially stable.

My version of financial stability is when I'm able to go through economic turmoil and not be too bothered by it because I can still handle it and still have enough for the life that I do.
It might sound simple but I think that is the most possible thing for me, as long as I am able to get through the difficulties in economic issues such as when there is a pandemic or now starting to be hit by inflation but I am still not too affected and my financial condition is still not too disturbed then I still feel this is my version of financial stability.
But of course things like this must also still be accompanied by several businesses that must be done and I am still doing that, not just one but I take advantage of several opportunities that exist so that when one of my businesses or jobs is disrupted then I still have others and do not feel deprived.

Yes growing your capital continuously is the sure way to financial stability but if you have a million dollar and you decide to be reckless with it without no proper planning, it will diminish until the point where you go back to the level of needing help. Having money kept in the bank isn't financial stability but to invest rightly and allow money to work for you whether you are actively working or you are sleeping, you are sure your floating liquidity will keep you going.

The gap between financial independence and safety is laid bare from your perspective. On the one hand, the upper end of this range suggests an ambitious, perhaps unachievable objective, while the lower end suggests an achievable objective within a reasonable time frame

It's wise to put away enough money to pay your bills for a few months in case you lose your job. This will help you weather the inevitable storms of life. Still, there appears to be a persistent sentiment of "never having enough money," which drives a never-ending cycle of seeking further financial resources

It's natural to desire to increase your financial standing, but contentment is paramount. An endless pursuit might destroy one's mental equilibrium. Yes, aid those in need, but also savor the present moment and give thanks for the safety you've earned

When you didn't have a job you expected to live a little better than the life you were living but then when you got a job you expected a little better life from that life and now when you are earning a good amount of money every month from other sites besides your job, you feel that it would have been easier for you to earn money if there were more alternative sources of income. People never want to stay in a position for a long time, people always hope for a better position than their current position. The amount of money you earn every month, even if you earn more in the future, you will still have to figure out how to increase your income. This happens not only to you but to everyone, everyone tries to earn more money, some succeed in it and some don't.

Financial stability is the nonstop incoming of money, and its left for you to use the money to add more value to your life and it's future but I think financial freedom is the best, that's talking about the future you, where you will be at the time and how much money you have in retirement.

If I can make a million dollar now I won't have to work very hard anymore, I will just keep investing my money and holding valuable assets, more money till the last day on earth, so I believe there is a different between financial stability and freedom, not the same.

Financial stability does not equal financial freedom for me, these are very different terms that require different amounts of money. Financial freedom means for me to be completely independent from still having to work, for that I would need an investment portfolio worth several million USD, generating enough monthly income to live of it and not to worry about money again. This is very unrealistic in my current situation and I am not going to achieve this goal in the next 10-20 years. Financial stability however seems like a more moderate goal for me, it means to have large enough savings to cover any short to medium problems that can come up out of nowhere. Losing my job overnight would be one of these issues and to feel some security and stability I think it’s important to have savings that cover all expenses (rent, food, car, medical, etc.) for at least 6 months. If you then have unemployment insurance in your country this could even last for the first 12 months, giving enough time to find a new job. So, in my case this would mean to have at least 20,000 USD in savings that I can rely upon. There is definitely not a thing as too much money, maybe when you are a billionaire you feel like that you have more money than you can spend, but for the average person there isn’t enough money. If you ever feel like you have too much money, just make a savings account for your children, cousins or niece and nephew. There should always be someone in our family that we can help out.

But even others want to invest, but still they can't as they are also struggling to find food for themselves. That is why we should be happy and grab this opportunity to invest in, but as again, I've seen a thread here about investing in Bitcoin. Our mind wants to invest, but our finances won't, as we do have stuff to pay like bills, food, etc., and our salary is not enough for it. Also, if we find another source of income, it takes time, but as well, it would be just enough for us. If we can just find a big salary job or our business is successful, the financial freedom is easy to reach.

But if you want to be financially free, you must first be stable because if you are not financially stable to take care of the basics of life, how can you think of bigger things? Financial freedom is something anyone wants and that is why we are all investing in bitcoin.  but to tell the truth so far not many people have done that, most of them are still in the scene of finding a daily income.  so our goal should be financial stability first and then financial freedom.

To me financial stability is me having enough to meet my needs both planned and emergency needs with concurrent non-stop income flow.
And to put it straight there's no such thing as having too much money  in as much as humans are not created to be satisfied with whatever they have. The inclination to have and acquire more always exist when we achieve one climax we are driven to voyage for another and it keeps on going on and on. Why go on and on if there's any such thing as too much money?