How is financial stability defined for you?

[lixer]

financial stability is all about your consistency in money making hence it will be possible once you are definite about your basic needs.

Your point is making sense but when you are earning only up to some level you might need to struggle but after that when you are planning up for big things after you are achieving your basic needs then that will not remain as same kind of struggle.

It means only for basic needs we must need to struggle and not for luxury things. And in my opinion the financial stability is all about having all the basic needs in regular manner and on the luxury things you can have some time and may not have in some other times. So, you may keep on adding your needs regularly still you can lead your life under a comfortable zone.

[Alanaz]

Financial stability to me is being at that level where you can afford more than your basic needs, a position where you will be able to enjoy some good things in life without having to worry about your account balance, that includes having a steady income stream or having some valuable investment that generates a reasonable amount of income,  it also means you work less and still very financially sound.

this will certainly be everyone's dream because almost most people hope their life is like this.
but it takes sacrifice to get it and not everyone gets what they expect.
You need at least careful planning when you are young and don't really waste the money you have.
because indeed things like this will not happen if you live as you like without thinking about the future.

[doomloop]

I can almost agree with your definition with financial stability but I think that I have to say that the capability to not work for x amount of time isn't really a choice if you want to make it a factor for being financially stable, if you're financially stable then you don't have to worry about working. The saddest thing to ever happen in my opinion, the unequal opportunity and discrimination of the poor by the people that thinks that they're higher than them, hope that this generation of adult teach their children if they have one to destroy the pyramid that's been plaguing us as a human being.

I would say never working is not a required thing for stability but it depends on your understanding of it. In this day and age not working ever again is a very risky thing, why? Because having a million dollars looks like enough for me to never work again (I do not live in an expensive nation), but in 40 years maybe that would be a small amount? How should I know? So never working again would require you to actually know how much you would need with precise prediction.

This is why it is either very hard to say a smaller amount to decide, or you have to say some super high amount. Since I do not need 10-20 million dollars to decide on anything then I just had to say that working would be a lot better. I do not know if crypt0m4nia agrees with me or not, but this is just what I believe, having good amount in the bank and try to work on a job you like.

[Botnake]

Financial stability to me is being at that level where you can afford more than your basic needs, a position where you will be able to enjoy some good things in life without having to worry about your account balance, that includes having a steady income stream or having some valuable investment that generates a reasonable amount of income,  it also means you work less and still very financially sound.

this will certainly be everyone's dream because almost most people hope their life is like this.
but it takes sacrifice to get it and not everyone gets what they expect.
You need at least careful planning when you are young and don't really waste the money you have.
because indeed things like this will not happen if you live as you like without thinking about the future.

Of course, if you aim for financial stability in the future, you should know how to save more and spend less particularly for those unnecessary things in your life. For me, financial stability is being stable with your finances and you can easily cater to all your wants and needs without worrying the bills because you have that steady income from your different investments or resources that keeps on generating an income. You need not to worry for emergencies if they arise unexpectedly because you have the funds intended for that, and you have your own savings account that keeps on growing from the profits you earned from your investments.

[Falconer]

I will have financial stability when I have a reserve of money that I can use anytime if needed without having to borrow from other people or bank. There are times when income and expense become unbalanced depending on the need at the time which requires me to use spare money to cover the lack of money that I have to spend. This is what is meant by stability because at a critical moment I still have spare fund to use without giving me additional problems such as debt burden that I have to pay.

Even if you invest in bitcoin and cryptocurrencies, you should also have spare money to use in times of need without having to sell your investment asset. If we do this then we really have good financial stability without further problems when we need money. Therefore, make it a habit to save some money for a reserve fund.

[Alanaz]

Financial stability to me is being at that level where you can afford more than your basic needs, a position where you will be able to enjoy some good things in life without having to worry about your account balance, that includes having a steady income stream or having some valuable investment that generates a reasonable amount of income,  it also means you work less and still very financially sound.

this will certainly be everyone's dream because almost most people hope their life is like this.
but it takes sacrifice to get it and not everyone gets what they expect.
You need at least careful planning when you are young and don't really waste the money you have.
because indeed things like this will not happen if you live as you like without thinking about the future.

Of course, if you aim for financial stability in the future, you should know how to save more and spend less particularly for those unnecessary things in your life. For me, financial stability is being stable with your finances and you can easily cater to all your wants and needs without worrying the bills because you have that steady income from your different investments or resources that keeps on generating an income. You need not to worry for emergencies if they arise unexpectedly because you have the funds intended for that, and you have your own savings account that keeps on growing from the profits you earned from your investments.

This is a problem that is hard to avoid. it's true as you said at least if we want our financial stability in the future at least we should be able to save money and set aside some of the money we have for investment.
but indeed this kind of thing is easy to say but hard to do for me.
this is indeed a bad trait that I have and indeed can't blame others for this but it's very difficult for me to do that

[AicecreaME]

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?

For me, being financially stable is when you are already financially independent - no more debt, can survive a daily basis without the need to work for it, and has a secured amount for the future.

Personally, I don't want to spend most of my life working in a company I don't own. I want to achieve financial stability with help of my skills, ability, and strategy. I know it won't be an easy task though. Surely, this would take a lot of effort, time, and resources to achieve, but definitely, it won't be impossible. Nowadays, it's really hard to earn money, hence we should not be complacent about our current earning status. It's not bad to look for additional side hustles that could generate you more income as long as you can still balance your time and give quality works to each of your hustles. We need to prioritize needs over wants. This is one of the keys to being financially stable - self-discipline. We must learn to restrain ourselves from buying the things that we don't really need, and instead allocate the money to our savings or investment so it could profit as time passes by.

Being financially stable for me also means securing my retirement fund. I want to fulfill it as early as possible so that I won't be thinking about it later when I have a family of my own. I want to have it to secure my future and to not rely on my children for money when the time comes that I'm of old age, I can still buy and do what I want.

[bakasabo]

Fo me financial stability is a situation, when my income during one month is greater then the expenses I had this month, combined with a feeling not resisting buying something. But all these wishes must be in limits of being realistic. You can wish to buy an island, when you earn several thousands and due to that dont feel financially stable. In short, when I had money to buy enough food, pay utility bills and other necessary bills, I would feel financially stable.

[TheNineClub]

I'd say the idea of financial stability varies from person to person and varies through a person's different stages in life. For instance, financial stability in your 20s, 30s, and 50s will differ. Where a 20yo would associate financial stability with being able to pay rent and have some extra money for spending within reason. However, a 30yo might be starting a family or even thinking of buying a home so those stability goals tend to move. I'm in a spot where I do have my ''20s'' expenses covered, bu am setting goals further down the line that definitely disrupt current financial stability.

[bosede1]

For me I will define financial stability as been able to conveniently provide for the basic amenities of life;food, cloth and shelter. Currently my salary is not enough for me because of the inflation in the economy of present thank God for bounties in this forum that is what I do and I get paid for signature campaigns mostly, so when I need some cash I cash out some of the accumulated saving from the bounty.

[ShowOff]

Each of us will probably have 1 answer based on his current financial ability. Currently I have the responsibility to provide for my family where sometime I have ups and down in term of finance. I was a manual laborer with a salary of less than $100 per month in the past, this often made it difficult for me to achieve financial stability where sometime loan were the last solution to make end meet. But in recent years I have had a job where it would really help me support my family and also have the opportunity to invest some of it in gold as well as crypto.

I can achieve a sufficient financial level at this time to meet my need and also invest, this is one I mean by financial stability where I do not have to always be in debt to meet my daily need. So far the btc paid from the campaign has also helped me a lot where I have managed to save most of the money every month on investment.

[Ultegra134]

Congrats OP on keeping the thread alive and there has been some great advice in here. From, "I live in a poor country but need 3;6 million USD to retire" to "Own your own house, have a couple bucks in the bank, dont drink". Lively discussion indeed.

One thing I would add is that financial stability depends a lot on where you live and that is something you should be open to change if you are 23 years old. If you are in a country/ jurisdiction with great public services then you may be well off without having millions of dollars in the bank and would just be living an enjoyable life in a safe setting. The desperation for the millions comes from a history of instability and insecurity. We have all been there or have heard of stories about someone close being in that situation. When having money would really have made a lot of difference for them.

This becomes less important if you are in a great society and have a close bunch of people who will look out for you as well as you look out for them. Thus, on top of financial stability, I think everybody should give thought to deciding a place they think would match their aspirations and desires and then try to own property, preferably land there.

Thank you for your kind words, it's interesting to see other peoples' take on financial stability, which could potentially redefine how we see other things around us.

~Snip~

For me, being financially stable is when you are already financially independent - no more debt, can survive a daily basis without the need to work for it, and has a secured amount for the future.

Personally, I don't want to spend most of my life working in a company I don't own. I want to achieve financial stability with help of my skills, ability, and strategy. I know it won't be an easy task though. Surely, this would take a lot of effort, time, and resources to achieve, but definitely, it won't be impossible. Nowadays, it's really hard to earn money, hence we should not be complacent about our current earning status. It's not bad to look for additional side hustles that could generate you more income as long as you can still balance your time and give quality works to each of your hustles. We need to prioritize needs over wants. This is one of the keys to being financially stable - self-discipline. We must learn to restrain ourselves from buying the things that we don't really need, and instead allocate the money to our savings or investment so it could profit as time passes by.

Being financially stable for me also means securing my retirement fund. I want to fulfill it as early as possible so that I won't be thinking about it later when I have a family of my own. I want to have it to secure my future and to not rely on my children for money when the time comes that I'm of old age, I can still buy and do what I want.

Likewise, I hate debt myself too, last year, I was considering buying a more expensive car than I bought, by getting a loan. However, I changed my mind and paid cash in advance, and bought a relatively cheaper car. I'm too young (23 years old) to be going in debt and paying interest for a car which might settle me in a job I don't like doing.

[LUCKMCFLY]

Financial stability in my opinion is when I don't worry about how I'm going to make money for tomorrow

stable it means nothing less or more and whenever we need money, we have money in hand stand by

I am currently unmarried and will try to stabilize my finances until I get married so that my partner and I will not run out of money

This is something very difficult, since it is quite complicated to calculate how much may be needed to spend according to life, more knowing that each time things happen in very different ways, many fundamentals that are those that influence our life, such as life pandemic that forces to generate expenses that were not within budget, many Bitcoin fans say that with only 0.001mBTC is enough money to live a lifetime in the future, I imagine that in the future BTC may have an approximate value of what you calculate PlanB, approximately $ 400k or even more, if it is this way, it is very likely that that prediction will come true, and if so, I believe that many may have reached their financial stability.

[Coyster]

For me, financial stability is being stable with your finances and you can easily cater to all your wants and needs without worrying the bills because you have that steady income from your different investments or resources that keeps on generating an income.

I second that, and I feel it's very important for individuals to try as much as possible to have more than one investment and skill, people who are rich hardly have one source of income/wealth, if you want to strive to be financially stable/dependent, then a lot of responsibility fall on your shoulder, you need to study about diverse investment opportunities and harness a few of them you believe in, but that must be after you've done your research, and you must ensure that they are viable and you're not investing more than you can afford to lose. Learning a different skill from the one you have is also another way to earn extra income and by extension, financial stability, if you have more than one skill, then you can offer more than one service, thus expanding your horizon, the thing remains that, to attain financial stability one has to put in sufficient work/effort/dedication.

[Mahanton]

Financial stability to me is being at that level where you can afford more than your basic needs, a position where you will be able to enjoy some good things in life without having to worry about your account balance, that includes having a steady income stream or having some valuable investment that generates a reasonable amount of income,  it also means you work less and still very financially sound.

Afford on something which you would really like to buy on without minding that you would be having no funds left at all on which i do really consider to be financially stabled.

Not only on buying capacity but also with investing capability because we do know that this one still requires some funds which everybody doesnt really have always the chance.
Reaching out this state on which you are capable enough on doing things in terms of financial isnt something a state that could be acquired so easily.
It would require lots of hard work and effort of course.

[Kasabus]

Financial stability to me is being at that level where you can afford more than your basic needs, a position where you will be able to enjoy some good things in life without having to worry about your account balance, that includes having a steady income stream or having some valuable investment that generates a reasonable amount of income,  it also means you work less and still very financially sound.

Afford on something which you would really like to buy on without minding that you would be having no funds left at all on which i do really consider to be financially stabled.

Not only on buying capacity but also with investing capability because we do know that this one still requires some funds which everybody doesnt really have always the chance.
Reaching out this state on which you are capable enough on doing things in terms of financial isnt something a state that could be acquired so easily.
It would require lots of hard work and effort of course.

Of course. Financial stability has its own process and will not be realized overnight. We should still endure lot of hard works and sacrifices before we can achieve financial stability. It may mean saving most of the time so you will have something to spend for in the near future.

Financial stability is a state where you can say money is not a problem to you anymore. And considering that your money keeps coming all the time from your different revenues, so definitely you can afford all the luxuries around you because you have a good source of income. And being financially stable does not even require you to work anymore because you know your stable enough to cover all your expenses and pay your bills anytime and anywhere.

[Sakanwa]

Financial stability of a person is a state that you can get whatever you want not only that but when large investment has been made which serves as a means of your income you won't even think about the price of the things you want to buy if it is costly or not because the money is there. Being stable financially means haven enough of the usual a person of such level is expected to be balanced and this is achieved through hard work
All success is achieved from hard work in other to maintain it and make it stable we invest largely

[EluguHcman]

Financial stability is the state of being a financial freedom where you would have a steady financial flow never to run down of your financial status.
This financial stability can be of a low or high level of financial status which remains a constant.

The more is always better if not it is as settling for less.

A lot of money of whatever highily number or huge amount can be depreciated by just extracting a number and if continuesly extracting you would have a zero number/amount at its end.

But the more money you achieve and the more you extracts has a tendency of rising or falling depending if you earn a higher money or low and the number/amount of extractions.
So it's so advisable to cut your cost considering how much you earn.

No amount of money is ever enough to have you a relaxation of mind because the more you earn is the more plans of expenditures ahead of you.

I would recommend real estate investing for a long term investment due to its management systems and lesser tax free because age would count when you have to limit your pursues for money.

[Fortify]

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?

Most people seem to be happy having a steady job and being able to pay down a mortgage through their lifetime, however it seems like a very slow way. If you've got a family then that sort of stability might be required, because you're less likely to be moving around or chasing a job anywhere else. However I think you need to be earning and extra amount, building up a buffer that can sustain you and maybe allow you to retire earlier than other people. Some are happy with hustling every day and others will be content with a simple 9-5 job. I am putting all spare cash into the stock market because dividends can give you a steady and compounding return over a few decades.

[Casdinyard]

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?

To me, Financial Stability is achieved when you get into a point in your money journey where money is no longer going to be a problem for you. You could comfortably buy anything you want or finance anything you desire like a new car or a house without getting negative'd, and most of all have something for yourself when shit hits the fan and you lose your main source of income. Most people think that to be Financially stable you had to be filthy rich, without knowing that there's pseudo-levels to it lmao.

• Financially-Free: Able to get what you want without worrying about your utilities.
• Financially-Stable: Able to support whatever you want, while remaining secure for when times get rough and you lose your source of income/profit.
• Financially-Capable: Get wealthy and be able to virtually anything that money can buy and more, and still have enough to buy the same kind of stuff over and over again without becoming poor. It also helps if you have an immutable money-making source/plan that's helping you with lining your pocket everytime you make a purchase!