Topic: How is financial stability defined for you? - page 5. (Read 1424 times)

It is true that for some people, no matter how much they have in their possession, they continue striving for more and more. However, I believe, this trait is also  natural aspect  of some people who are never satisfied with their current achievement, this drive for expansion and growth is also seen in many successful entrepreneurs

In my opinion attaining the purpose of life is beyond materialistic success, enjoying family life by spending quality time, travelling all around the world and contributing for the welfare of society are equally important for a meaningful life.

Yeah, I agree with you, @Kiakia. Financial stability doesn't just mean that the person is financially stable today while, in the future, they go broke. I think when one has a well of gold (assets, commodities, and different forms of investment) that is steadily refilling their spending purses, making them archive whatever desire that money can satisfy both now and in the future, even when they are old, then it's financial stability. Some rich people even have enough money to extend it through their next generation.

Along with earning money, managing that money is also very important. Many horrible incidents have happened to me in the past due to lack of experience and lack of knowledge to protect my own assets. I have seen people who went from millionaire to bankrupt just because of lack of proper management. Earning money is very important in life, and one who understands this fact can lead a good life in future.

And I am always trying to earn money and working hard to make my business successful which will bring bright future for me. So I always try to manage money, never follow an over leveraged lifestyle.

No matter how hard it is or any job that I know I can do, I really try because not every place has a job that we want. Lately ill work in the city then a pandemic is coming ,now I am in the province and the only main income here is agriculture such as rice farming, vegetable farming and many others thats why ill try to learn more about agriculture. These jobs will definitely boost my finances especially if I focus more on my online job which also helps a lot to grow my investment. Right now it's right that I start really small until I reach the top of advancement in life. Right now it's a job of hard work and perseverance when I have enough to bulid some funds then if im ready I can start a business that is appropriate for the area.

It's good to have stable finances because all good dreams can be achieved as long as you have them.

It is better for us to make decisions that will help us in life and make less expenses than going to costlier things that may not give us the kind of service that we want to have. Life is all about making reasonable plans so that we can understand how we are going to do to spend less funds to get what we needed. Those who understand how to cut there cost will never bother to go for a high life when we can make good decisions that will make us go for what is going to be suit our interest.

For me, financial stability is like building an empire state of income for your future and till death, keep growing in wealth as you grow older is the real definition of financial stability, many don't get this as they focus on the present wealth they have, or some large amount of money they presently own, there have been stories of rich men who failed to manage their wealth and they go broke again, it's about the skills and the potential to keep making more money that you did last year.

One will be financial stable if he has enough income to manage all the needs in well suited manner. Spend life easily with the completion of all necessitates of life and save some amount of money as well so he will be termed as financial stable.

But these days no one Consider himself as financial stable because he thinks that his money is not enough for him, everyone wants to have more money. financial stability can also comes when someone thinks about future and he makes some investment for further uses like investment in some business, bitcoin, property and some other thing so he will be satisfied with his income and enhancements of money with passage of time.

Well, ive not gone all through the comments and i dont know if anyone else have said this, but for me, money is never too much, though there is a financial level one will get to, and he or she will be or should be contented but then, one can never have too much money.

Personally for me, financial stability simply means reaching a financial level where i could easily and comfortably purchase or acquire all of my needs, things that makes live easier and worth living, and as well have chains of businesses that pay me a handsome profit every day, not weekly or monthly.

Needs are different from wants i believe we all know that, needs are more like things and stuffs we cant do without in their priorities, for example, ability to live well, eat good food, wear good clothes, own your own home, raise a family, send your children to good schools, drive a good car, manage a good business or businesses, all this are needs and they are important.

Coming to wants, wants are like the extra things that are not so important for our day to day living but we still want them, example is an extra cars, expensive wrist watches, eating out in expensive hotels, going for vacations and so .

I am mostly keeping the expense profile limited to only wanted things. I am type of guy who prefers android over Apple, and vegetable over non vegan food. I never compromise healthcare but I do try to cover everything under health insurance. I am always looking for good schemes that are available for savings and thus increasing my income rather doing more expenditures than required. I do multiple jobs and thus I also try to earn from more than one income source and add up more to my savings. The core effectiveness is more savings less expenses yet good standard of lifestyle. Gives me enough financial stability than average salary earner.

Your wish is actually wise enough, because you have hope to try to work and earn stably even though your financial condition is not at a great level. But if you have more priority when it comes to work to produce more stability in your life, I think you need to work in more than one place. And that includes working online as well as through your own environment so that you can get the growth you want, because the initial struggle is always needed by everyone who wants to rise from the bottom to go to the top.

Financial reserves thru savings or investment/business that supporting their needs, something that will fill up your financial stability, and for sure everyone who have in their right minds will want to achieve such goals, things that you don't need to think about meeting deadlines or needed to wake in the morning to go to work.

Though everyone has their own interpretations and opinions about this and they have a definition that maybe arguable with someone's else opinions and perspectives.

But along the way, contentment and enjoying life without fearing that you will not be able to provide the needs of your love ones' because you have savings that can cover everything, can qualify as financially stable.

We will never be fully satisfied with what we have, we'll always wish to have more no matter how other people see that what we have is enough to support our lifestyle for the rest of our lives. Hence, I agree with you. As long as I am able to satisfy my needs to live without having to trade them if I do get tempted to buy some wants and luxuries in life, then I can say I am in a way financially stable. However, with the world changing everyday and its demands skyrocketing in lightning speed I don't think we should be comfortable with just settling for what we currently have cause soon enough we'll need more.

When talking of financial stability is something that can never be satisfied and quantified as a being we are we always strive to increase in our financial status regardless of how much we have made and how much keeps flowing and yet still carving for a better tomorrow. That is why today the richest man in Africa today never get satisfied with what he had rather keeps creating more opportunities to increase in his finance, at this we never say they are okay with they earned or what they got from their companies.

Now lemme me bring it down to our level of financial stability; what I can say to my stability is having a cool job or business that's generating a sets of amount for me where in every week or month I received some specific amount to account that foot up all my bills whereby I run not into debt. With this I can boldly say I am satisfied with what I had but know too well as woman or humans we always sources for an increase which I can likely term it to be a firm.

Being famous to me is like acquiring of economic power where the globe would be recognized you as the world richest woman or man, at this point this sets of people keeps venturing into much business, creating ideas to gain more knowledge and in returns generates more wealths. Typical example of such people are Samsung, Apple and Elon Musk. People like Elon Musk are sets people who are business oriented and never want to missed out any little time they had and to them it's a multiplication to their innovation just as he introduced and builts up the solar powered Tesla car.

While Samsung & Apple keeps increasing in their productivities launching various version of their device, all these keeps making them more Richer and yet not satisfied with their current start of income.

In my point of view financial stability is apart from your basic needs food, shelter and cloths. If you don't have to worry about your medical emergency, good education for your children, getting educational degree from reputed university, several investment in real estate etc. personally I feel this is the symbols of financial stability for any individuals. Financial stability is very crucial in life which needs to be carefully handled because this only will define how we are going to lead a comfortable  life in current and in future.

In deed, it is important to have some extra money for investment in asset like Bitcoin on regular basis, that can be crucial for achieving goal of financially stability in the long term. If your income is just enough to meet your basic needs of food and health care, then it is high time to consider developing skills to enhance your income. Exploring earning earning opportunities available on internet in IT and  ecommerce sectors can be significant step towards achieving this goal.

It seems to me that it is important to have several sources of income, especially if you have a family for which you are responsible, then if you lose your only source of income, the situation can be critical.

If you have several sources of income, and at list one of them can be a passive source of income, then this will certainly make you feel more confident. Take care of the main reliable source of income, and create a few more less significant ones, create a reserve that can hedge you in any situation and I assure you, you will feel comfortable. In the future, the income received will form the capital with which you can create new investments.

Others will say they are financially stable if they can eat three times a day and also have no problem buying foods, but others perspective is that they are able to buy what they want without taking out a loan, meaning they can buy it in cash. It is still about their content because others are content with it, like having only one single source of income that can provide for them, but others want more as they want to earn more money for their wants and also purchase some stuff.

        If your current financial is not able to provide everything you need and after that there is no money left, then it's time to think about it. I mean that you need to have money for the investment process. A person should have a financial cushion that can be used in unforeseen circumstances. Isn't it? It is required to look for additional sources of income that will contribute to this.

To achieve success in life you need to earn a lot of money without money life is worthless and without money the world is very difficult. We have to earn money as well as try to retain that money. I can never think that I have earned money and spent that money. I must save a part of the amount of money I earn for the future. If you want to earn more money, you must find an alternative source of income. In that case you have to do the kind of business that you are good at. If you work and keep some money aside for the future, your life may go well but when you are not satisfied with only one source of income and look for alternative sources, you can achieve success in life. So saving money and investing money is very important in life along with money income.

Financial stability can be perceived differently by individuals, depending on their specific financial circumstances and responsibilities. From my perspective, financial stability means ability to meet your obligations and maintain reasonable standard of living without excessive financial pressure. Moreover, It is also essential for us to engage in social work and contribute for betterment of society, alongside finding fulfilment and purpose of life.