How is financial stability defined for you?

[shield132]

How is financial stability defined for you? - I'll answer this question and I would say that Financial stability for me is defined by following - Have you ever lived in Europe? In countries like Switzerland, Sweden? Or have relatives here? In these countries, there are min lower salaries and these min salaries are really enough for you to live okay, have the basic things and still some fun even if you pay the rent. Great health insurance, great auto insurance in cheap prices. If something happens to you, the least thing to worry about is money. 30 days total paid leave a year. Did you lose your job? Don't worry, the government will help you for a good time.
That's financial stability but at the same time I want to say that I am not big fan of European system, I prefer America in this case. You can earn great money in USA compared to Europe, rent is even better here, everyone in USA has bigger and better house compared to Europe. Just see, all the top companies and entrepreneurs are from USA, this country is more for people with greater aims and not for family-guys type of people, don't get wrong with me, I'm saying that politely.

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[Natalim]

One cannot be financially stable if he does not understand how to run his money.

My understanding of financial stability is that I would not anymore worry about my future, I have enough money to cover my daily expenses and all my needs, and probably my wants too. I understand that I can only achieve that if I have a profitable business that would continue to generate money for me. My ultimate dream in life is to be in a position where I let my money work for me. With that said, I'm hoping one day I'll be successful in my journey in the crypto space.

[dificanovi]

People who are able to stabilize their finances are people who do not like to spend their money on unimportant purposes. Many people manage their finances so that the money they have doesn't just run out, they are even able to look for opportunities to develop their money by investing and trading.

[LogitechMouse]

When you have enough skills and knowledge enough for you to have some income that will cover your expenses as well as savings and some investments as well. I think if you have this then you can consider yourself as "financially stable" already.

I think another definition that I can say is when money isn't your problem anymore. I mean if you're not having a problem financially then you can consider yourself as a financially stable. Well, different people have different perspective regarding this but I think there is one similarity in our opinions. That if you have enough money then you can be stable.

[geegaw]

People who are able to stabilize their finances are people who do not like to spend their money on unimportant purposes. Many people manage their finances so that the money they have doesn't just run out, they are even able to look for opportunities to develop their money by investing and trading.

I think when we have financial stability, we often spend more miscellaneous, sometimes it doesn't have much specific purpose, it just seems to be a temporary lust because at this point, we are already so knowledgeable about our own finances, the petty expenses will no longer be so important when our financial resources are fully compensated and still stable. In theory and such visualization may make us feel that this path is simple but finance is one of the areas of risk, for example, investments and businesses always consume a lot of capital but sometimes there is no response

[skarais]

People who are able to stabilize their finances are people who do not like to spend their money on unimportant purposes. Many people manage their finances so that the money they have doesn't just run out, they are even able to look for opportunities to develop their money by investing and trading.

I tend to think that stability is when a person can balance their expenses, income and investments without causing any other financial problem. Saving without spending a lot of money on things that are not necessary in my opinion is not the meaning of financial stability, but saving expenses.

[Ultegra134]

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

In general, no, but there are cases in which they do, such as people who win the lottery or get rich very quickly and end up dying of overdose or bankrupt after a few years.

It is not in 100% of cases, but I would say that in most cases it is due to earning money too quickly, coupled with mental and/or self-esteem problems.

Well that's mostly true, I even said it myself, of course, and I wouldn't mind earning more money. However, I don't want money to determine my goals/future, on the contrary, I'm thinking of money as a tool to acquire what you wish and assist you in a better life. I don't want it to be my ultimate goal.

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.

In fact, financial stability for each is determined according to his own well-being.
You are right as long as you are satisfied with the state of affairs such as a rented apartment and the absence of any things in your life, but at the same time you do not feel defective, you are happy.
But if you look at some people with a lot of capital and at the same time regularly worrying about constant profit, they, in my opinion, do not have financial freedom.
As long as we feel comfortable in ourselves, our financial freedom will remain stable.

Well, as I said, I'm doing fine, for now. We can't determine how our future will be, but for now, I'm doing fine I guess. The goal I'm pursuing is to have a fulfilling life, I'm not sure on what degree I'm going to accomplish it, but at least I'll try.

[bitLeap]

Stability is only about managing finances with stability and being able to allocate the money you have where it should be. In a general perspective, of course, this becomes a reference for those who have long-term demands and can review the results at a later date. Therefore, several principles of managing a diverse economy make overall economic stability dependent on the adjustment of living conditions that support it. Is the need in the month above the average, or does the need exceed the salary you get per month?

[xSkylarx]

People who are able to stabilize their finances are people who do not like to spend their money on unimportant purposes. Many people manage their finances so that the money they have doesn't just run out, they are even able to look for opportunities to develop their money by investing and trading.

I tend to think that stability is when a person can balance their expenses, income and investments without causing any other financial problem. Saving without spending a lot of money on things that are not necessary in my opinion is not the meaning of financial stability, but saving expenses.

If you're on the low end of the income spectrum, you may have difficulty saving because your expenses on basic necessities are equal to your salary. Regardless of how you look at it, both sides have a point, but I think it's difficult to save when you're on the low of the income because your expenses on those necessities are equal to your salary. But for me, financial stability means that your income does not fluctuate, and your expenses do not fluctuate as well.

[el kaka22]

I think when we have financial stability, we often spend more miscellaneous, sometimes it doesn't have much specific purpose, it just seems to be a temporary lust because at this point, we are already so knowledgeable about our own finances, the petty expenses will no longer be so important when our financial resources are fully compensated and still stable. In theory and such visualization may make us feel that this path is simple but finance is one of the areas of risk, for example, investments and businesses always consume a lot of capital but sometimes there is no response

I have to say in a middle class type of situation it all depends on one thing to go wrong. The past 2 months have been one of the biggest earning months of my life and it was also one of the highest spending one at the same time. So that means if you have a great life that you are sure that you could save aside if everything goes right, it could go wrong all of a sudden, one sickness, one technical item broken and so forth and suddenly you spend it.

My PC is basically "broken" it is kept safe with horrible stuff basically and it may never work very soon (or just replace some stuff and hope to start again), that means I still have a lot of things to pay let alone the ones I already paid for because of some hospital stuff. When you look at the income I have, it is a high level for the nation I am in, it is really good, but at the same time it is not enough. Stability is not something that is guaranteed, if you have something unexpected, it keeps getting drained.

[pealr12]

To me I would say financial stability is being able to afford the basic things of life and have extra to afford some luxury items whenever they are required, like the @op said, this topic is quite controversial particularly because different people with the different perception of this, some would prefer to have loads of money to be satisfied and others will be satisfied with the little amount they have

[fullhdpixel]

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.

Yes, I agree that financial stability is something which is like we are not getting suffered by inflation over the time. But, if you are getting paid from your regular job then your salary will increase along with inflation rate then you never need to worry about financial stability. In this way financial stability must be a concern for business people and for freelancers and for all the people who are having inconsistent income  stream and there will be no hike against inflation rate.

Bitcoin is a deflationary currency hence it will help if you are saving it for lifetime to fight against inflation even you are not having a regular income stream or your income not increasing along with inflation rate.

[stomachgrowls]

I think when we have financial stability, we often spend more miscellaneous, sometimes it doesn't have much specific purpose, it just seems to be a temporary lust because at this point, we are already so knowledgeable about our own finances, the petty expenses will no longer be so important when our financial resources are fully compensated and still stable. In theory and such visualization may make us feel that this path is simple but finance is one of the areas of risk, for example, investments and businesses always consume a lot of capital but sometimes there is no response

I have to say in a middle class type of situation it all depends on one thing to go wrong. The past 2 months have been one of the biggest earning months of my life and it was also one of the highest spending one at the same time. So that means if you have a great life that you are sure that you could save aside if everything goes right, it could go wrong all of a sudden, one sickness, one technical item broken and so forth and suddenly you spend it.

My PC is basically "broken" it is kept safe with horrible stuff basically and it may never work very soon (or just replace some stuff and hope to start again), that means I still have a lot of things to pay let alone the ones I already paid for because of some hospital stuff. When you look at the income I have, it is a high level for the nation I am in, it is really good, but at the same time it is not enough. Stability is not something that is guaranteed, if you have something unexpected, it keeps getting drained.

Unexpected situations do really happen in our lives but doesnt mean that we couldnt really able to handle that if we arent that financially stabled because this do simply means that you do know on how to allocated up your funds on particular conditions.

When you do have this kind of mindset then those unexpected spendings or expenses will really be just covered up because you had already prepared for that and thats the beauty on having this kind of mindset on where you should be prepared on everything.

Not only talking with expenses but also on how to you earn income.You would be finding lots of various sources as much as you can.
You wouldnt really stick out on a single source.

[dimox]

stable is when you get something for the first time until the end at same portion. financial stable, when you get thing called money and you spend for your daily, just for daily needed, without anything, and you have the rest for your save storage.
doesnt mean if you have big salary will called stable, because we dont know how much we can earn in next month.
the other thing that make us happy, though we dont need it is different. because financial stability for me is how much we spend just for daily supply.

[Shenzou]

In my opinion i think that there is no such thing as financial stability, with the current age and time and with how we are constantly having these economical issues and with the constant inflation of the fiat currency it is difficult to be sure whether you will have enough, especially if you are getting paid just enough to pay for the bills and what not, so i feel like it is critical that everyone should be looking to always keep increasing their capital in one way or another, whether that is seeking jobs online or in the real world, because having that extra income can really help, and certainly for me i feel like having to seek it i allowed me to try out different things and all kinds of jobs and it lead me to find out about crypto and bitcoin, so even if we can't reach the point where we are completely finically stable we at least it is making our life more meaning and keeping us active in the search to reach it.

[mich]

In my opinion, financial stability is getting to a place where your debts are low in relation to your income stream.

It can look very different to different people because we all have such different spending habits and lifestyles.

But the point is not being burden by your debts and/or not making enough income to support your lifestyle.

[Rufsilf]

How do you define financial stability for yourself?
What's your take on this?

Financial stability for me is to live comfortable and to have a job that can sustain me and my family in everyday survival in life without any financial problems and ofcourse debts, plus having some nice 2-3 passive income or source for our family's wants, needs and incase of emergency we won't have to worry about the financial aspect. And ofcourse to sustain any lifestyle we want.
I mean, frankly, we all want to be wealthy in different terms that can sustain our daily needs in life. Sure, we differ in a lot of aspects in life but in the end, money is indeed what we need in order to survive this harsh world wether we like it or not, that's the reality in life.

[Joshapat]

I think financial stability is determined by needs and wants, many people buy things that are not important or there are alternatives that can be used, this is what makes their finances unstable. being able to control desires is important to make our finances stable.

[magnum1010]

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?

For me financial stability doesn't mean a pile of money. I am satisfied when I have enough money to pay all my basic expenses, to spend some on entertainment and to invest some (10%-20% of my salary). My aim is to make such a passive income that will provide all my monthly expenses. This will mean for me financial freedom, so I will work only if I want and all additional money I will invest to have a bigger passive income.

[jostorres]

being able to control desires is important to make our finances stable.

You are trying to emphasize the importance of saving and I agree that saving alone will make one richer rather than how much they are earning. Saving without spending for unnecessary things will definitely help anyone to achieve the level of financial stability regardless of how much they are making for their living.

For me financial stability doesn't mean a pile of money.

This sounds like concept of socialism but capitalism is suggesting you to dream about more so that you will earn more it is like you must feel like you are not having sufficient earning so that you will go for more opportunity to earn more to get more financial freedom.