How is financial stability defined for you?

[flyingcarpet]

Financial stability refers to the ability of someone to get hold of some basic stuff, just like what he wants or needs not necessarily much with money without the assistance of anyone, when you are capable of solving financial problems within your reach at ease.

Note, being financially stable doesn't mean that you are rich, it just means that you can make basic provisions for yourself.

You have well defined the difference between financial freedom and wealth. Getting something we want or being able to reach something without going into debt at that moment is not wealth. It is the economic comfort of being able to freely buy something.

Ensuring financial freedom and being able to progress at this level is an important issue for every individual. Being able to act without being dependent on anyone is something we all want and strive to achieve. Financial freedom can give us what we want.

[bayu7adi]

The insatiable quest for contentment must be instilled in every individual aspiring for remarkable success. This drive acts as a potent catalyst, propelling one towards achieving greater heights and amassing increased wealth.

To be unsatisfied with one's current achievements does not imply avarice; rather, it signifies a noble objective of shunning self-imposed limitations to perpetually create and strive. It is from this pursuit that creativity flourishes beyond the boundaries of our own expectations.

[inthelongrun]

Financial stability means you have a job or a business that enables you to earn enough money. Enough means more than your basic needs because you also need savings, emergency funds, and funds for entertainment, vacation, or buying some stuff to reward yourself.

But what we are aiming for is to achieve financial freedom. Financial freedom for me is earning enough money where I do not need to work hard for it. So it means I need to establish a stable business or build an apartment so I can earn a regular monthly income. I do not want to achieve financial freedom when I am already a senior citizen with a monthly pension.

[Jawhead999]

Financial stable is where you have few jobs and even one of your job are stopped, it doesn't ruin your financial because you still have the few other jobs. At least you still have money to feed yourself and family, pay bills etc. This is different with financial freedom where you don't need to work anymore and you're still making money when you sleep.

Financial stable is a must, if there's a family lack of financial, I'm sure the relationship will not good and there's a chance of conflict.

[Negotiation]

Financial stability usually means living comfortably and meeting basic needs. Before reaching your goal you should be well aware of your current financial status and net worth. A discussion with your financial advisor will help you understand your net worth and shed light on your priorities. After analyzing the current financial situation, along with this time frame, it is important to have a budget with it. A budget gives you an idea of your expenses, spending and savings which ultimately helps you reach your goals.

[Fredomago]

Financial stability means you have a job or a business that enables you to earn enough money. Enough means more than your basic needs because you also need savings, emergency funds, and funds for entertainment, vacation, or buying some stuff to reward yourself.

But what we are aiming for is to achieve financial freedom. Financial freedom for me is earning enough money where I do not need to work hard for it. So it means I need to establish a stable business or build an apartment so I can earn a regular monthly income. I do not want to achieve financial freedom when I am already a senior citizen with a monthly pension.

I'm sure most of us if not all will love to achieve financial freedom during our early age and not when we are already senior citizen, we all wanted to enjoy life as early as possible, if you already have good business or investment that can cover all your expenses and will allow you to save enough spare for emergency that's enough to have a life that you can classify as financially free.,

No longer being force to go to work and take all those pressures and stress, even it's not that huge earning in a daily or monthly basis coming from your own business or investment, as long as it can cover all your needs plus spare for saving, it will allow you to enjoy freely.

[tjtonmoy]

Money is never enough and there's no such thing as financial stability. If you think that you have achieved what you needed, then one day you will run out of that money. if you talk about financial stability, it is something in which you are not affected by any economic condition such as a crisis. Having enough money to survive any kind of condition should be considered financial stability. To me, if I can live day-to-day life with ease and save some for the future would be financial stability.

But this is not something that I want. Money makes more money. I want to keep on investing and making more money. Because fiat is something that is affected by inflation. Investment is the best way to make more or keep the current value. Never think that, "this is enough, I can rest now"

[Crypt0Gore]

There is no such thing as too much money, once you set your mind on becoming successful in life you start to climb the ladder that has no end, and as time goes on it becomes a general something for you, it becomes a part of you, that even one day you stop working or running your business/company, you will feel as if you are not alive, this is why rich men don't know how to stop, they always want more.

If manage, one day you feel like stopping, you will start losing the enthusiasm of what made you into what you are already, and from there on you can start dropping bit by bit, and you start going down.

Whatever we involve ourselves with becomes a part of us and that's why we should keep doing what's good and right, it's always for our sake.

[jostorres]

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.

Well, if we don't talk about money management and only talk about financial stability, it is not really about the future but it is about how you are doing financially at the moment, and if you have more than you want to spend on anything in your life, that's what you can call financial stability. For example, there is something like a car or a house that you want to buy, and you know that after buying it, you will still have a lot of wealth left behind, that is what financial stability actually is.

I know and understand your point that there are people who get rich, but they don't know how to manage the money they have, so they spend it recklessly without using it on things that would give them something in return so that they can stay rich and get more wealth, and at the end of the day, they become poor again, but that doesn't happen with everyone.

[dunfida]

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.

Well, if we don't talk about money management and only talk about financial stability, it is not really about the future but it is about how you are doing financially at the moment, and if you have more than you want to spend on anything in your life, that's what you can call financial stability. For example, there is something like a car or a house that you want to buy, and you know that after buying it, you will still have a lot of wealth left behind, that is what financial stability actually is.

I know and understand your point that there are people who get rich, but they don't know how to manage the money they have, so they spend it recklessly without using it on things that would give them something in return so that they can stay rich and get more wealth, and at the end of the day, they become poor again, but that doesn't happen with everyone.

Financial management would be always that recommended but it is really that hard to believe into those people who do able to reach out that state came from hard work and investment then for sure they are really that

aware of that management which is something that they would really be knowing on how to limit out their expenses and would be focusing out on things which it would really be giving out that advantage for them to be
more that productive and could really increase their income which is something that their main priority.Unlike into those people who had just get their richness whether on an inheritance or from a lottery on which
managing their money would be unlikely and this is where they would really be putting themselves back on getting poor or what they are before if they arent that wise
on spending their money.

Stability does means that continuous money flow despite of the spending you have done but you do really know that you could still have lots left on your bank account because of certain cashflow which
it could really be acquired through investment on which you could really be able to say that there is really a difference.

[BitcoinPanther]

How do you define financial stability for yourself?

Financial stability for me is the capability to withstand financial pressure and is able to meet financial needs with extras for savings and future plans.

 

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

I believe that there's a thing as too much money.  That is the point when one is able to sustain his future generation without worrying even if he don't have to work anymore.

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?

For me when I got an income that can meet my family's monthly budget and have extra for savings.  And we all know that the more income we have 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?

Things will change as you got a family, and your kids started their schooling.  With more mouth to feed and more expenses, you will find out that your savings won't suffice if you failed to increase your source of income.  A single life responsibility is far different from the responsibility of a family person especially when your parents and in-laws also rely on you to meet their needs.

[panganib999]

For me, just being able to live life comfortably without having to worry about getting the money for paying this and that is enough to be considered financially stable. It doesn't take that much either, all you need is a good paying job which is more than enough nowadays with work from home and all these awesome opportunities that companies are putting up. If you have enough money in the bank to keep you going for a little while if you go jobless, enough money to survive on a daily basis without going frugal, and you can buy whatever you want, that's financial stability right there. Basically all it means is you being able to realize your life and do whatever you want without the shackles of money keeping you down. If you got that life then congrats!

[Lida93]

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?

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?

[Texac]

Financial stability means you have a job or a business that enables you to earn enough money. Enough means more than your basic needs because you also need savings, emergency funds, and funds for entertainment, vacation, or buying some stuff to reward yourself.

But what we are aiming for is to achieve financial freedom. Financial freedom for me is earning enough money where I do not need to work hard for it. So it means I need to establish a stable business or build an apartment so I can earn a regular monthly income. I do not want to achieve financial freedom when I am already a senior citizen with a monthly pension.

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.

[xSkylarx]

Financial stability means you have a job or a business that enables you to earn enough money. Enough means more than your basic needs because you also need savings, emergency funds, and funds for entertainment, vacation, or buying some stuff to reward yourself.

But what we are aiming for is to achieve financial freedom. Financial freedom for me is earning enough money where I do not need to work hard for it. So it means I need to establish a stable business or build an apartment so I can earn a regular monthly income. I do not want to achieve financial freedom when I am already a senior citizen with a monthly pension.

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.

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.

[Mauser]

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 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.

[Outhue]

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.

[Patrol69]

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.

[slapper]

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 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.

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

[Gozie51]

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.

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.