Altcoins Talks - Cryptocurrency Forum

Further Discussions => General Discussion => Topic started by: Mr. Allcrypto on February 28, 2024, 11:33:33 PM

Title: Financial stability
Post by: Mr. Allcrypto on February 28, 2024, 11:33:33 PM
In our society today, most people work for subsistence purposes only, failing to understand the benefits of building their financial life.
To be financially stable, one must work towards it and develop mechanisms for upholding that status so he/she won't fall financially one day. If one has 1million in his or her account and can't maintain that status or get source that will provide money, he or she can't be called a millionaire because definitely human needs are insatiable.
The ability to be financially stable and to maintain it is very important in our society. There are some factors that hinder financial stability in our society today and they include; poor income, unemployment, lack of savings, excessive debts etc...
Title: Re: Financial stability
Post by: milewilda on February 29, 2024, 07:12:26 PM
When it comes to financial stability then it would really be just that something that everyone is really that trying out to achieve,. Yes, its really that easy to say but
on the time that you would really be trying to do it then it is really the most challenging thing. Sustain is what the main issue on here. Its true that even if you do have that $1M
but on the moment that you cant be able maintain that amount or making it big then this do signifies that you arent that still having that financial stability.
Sooner or later you would be able to realize on what are the things you would really be needing to have to make yourself that sustaining.
Title: Re: Financial stability
Post by: DragonF on March 04, 2024, 12:57:38 AM
Everyone wants to be financially stable but certain factors have made it so difficult for individuals to be financially stable. We all need the good things of life and achieving all this means that you are financially stable. If you are not financially stable then it becomes so hard meeting your basic needs. The cost of living continues to rise, making it harder for individuals and households to maintain a stable financial situation. Issues of house rent, electricity, healthcare, and education costs have increased and it has affected the income of so many individuals.

Job losses and pay cuts have created financial instability, making it difficult for people to maintain their financial status quo. For instance, during the COVID-19 era, a friend of mine lost his job and since then he has been out of a job ever since then his living standard dropped and he is living on hand-to-mouth. Also, last week a friend received his salary but noticed that his pay was cut because he was absent from work for some days. With these challenges raised, it is clear that attaining financial stability is not an easy task. Even when you try, the cost of things keeps ridiculing your effort and then makes it difficult to save.
Title: Re: Financial stability
Post by: Dr.Bitcoin_Strange on March 04, 2024, 12:37:15 PM
Well, in today's society, to have or keep our financial stability is very very hard because of the way things are going these days, like high cost of things, no salary can help us overcome pressure in our country, so before we can achieve financial stability, we have to create a resources and stick to it, which means noting or writing down your expenses and making sure it doesn't exceed your income in case of emergency, and it's also important to save for future use, but We need to have different ways to earn money.
Title: Re: Financial stability
Post by: FOKA33 on March 04, 2024, 05:44:22 PM
In our society today, most people work for subsistence purposes only, failing to understand the benefits of building their financial life.
To be financially stable, one must work towards it and develop mechanisms for upholding that status so he/she won't fall financially one day. If one has 1million in his or her account and can't maintain that status or get source that will provide money, he or she can't be called a millionaire because definitely human needs are insatiable.
The ability to be financially stable and to maintain it is very important in our society. There are some factors that hinder financial stability in our society today and they include; poor income, unemployment, lack of savings, excessive debts etc...
Financial stability is the ability of an individual to experience bankruptcy. As it can ensure long term financial security
Title: Re: Financial stability
Post by: Mr. Allcrypto on March 04, 2024, 06:49:21 PM

Financial stability is the ability of an individual to experience bankruptcy. As it can ensure long term financial security
[/quote]



Do you even know the meaning of bankruptcy? I am talking of how someone can be financially stable, and be able to afford his or her basic needs and wants, and you are saying financially stability is the ability to experience bankruptcy.
You are totally wrong and not getting the full story well...
Title: Re: Financial stability
Post by: albon on August 14, 2024, 09:02:16 PM
Low income, unemployment, lack of savings, over indebtedness, high demand are prevalent among people in my country. There is no substitute for money to make a living so you have to earn money at all stages of life. Business or job means working hard to earn money. Spending more than you need can lead to cash crunches later on. According to me, spending should be aimed at a continuity of income. You need to save a lot of money which will be useful in your hour of danger. If you are not able to save money then there will come a time when you will fall financially.
Title: Re: Financial stability
Post by: bitbit97 on August 14, 2024, 09:12:53 PM
To be able to be financially stable a person must be financially educated. A fool with a million will become broke in to time. A person with average income, can become a millionaire with time if he is smart, educated and ready to take a risk. As a head of a family, my primary goal is to be financially stable. I think I cope with it well. When my class mates were spending time doing nothing or wasted time in clubs, I saved money and worked. Now many of them live from salary to salary, and maximum they can afford to go on a vacation in our country. I managed to find a job, got promoted and have ability to travel abroad 2-4 times a year with whole family easily. And of course crypto helps me to achieve that.
Title: Re: Financial stability
Post by: target on August 14, 2024, 10:18:41 PM
I think you only need to have crypto project where you can make money thru staking to be financially stable. It however requires a lot of money to invest in such poject.

If there is a chance to just get into BTC mining, I think this is also a good way to ahve financial stability. Something of a source of funds that is independent from you being fired by the board.
Title: Re: Financial stability
Post by: Dr.Bitcoin_Strange on August 14, 2024, 10:40:46 PM
Do you even know the meaning of bankruptcy? I am talking of how someone can be financially stable, and be able to afford his or her basic needs and wants, and you are saying financially stability is the ability to experience bankruptcy.
You are totally wrong and not getting the full story well...

Lol, I think he wanted to say something totally different from what he's just said, maybe he just didn't know exactly how to place his words to pass the actual message he has in mind. Because there's totally no relationship between being financially free and experiencing bankruptcy, as a matter of fact, the both terms are quite opposite. I think maybe what the writer was trying to say was that, gaining financial freedom is a state whereby an individual has the resources that'll completely make him free from bankruptcy.
This is of course very true, gaining financial freedom is all about having a great financial back up to be able to not only take care of your immediate needs or wants but also to have the capacity to take care of future emergencies, even when they occure unexpectedly, without completely going bankrupt.
Title: Re: Financial stability
Post by: Kemarit on August 15, 2024, 12:53:54 AM
I think you only need to have crypto project where you can make money thru staking to be financially stable. It however requires a lot of money to invest in such poject.

But I guess when we are all starting in life, at least when we get our first job, we still don't know investing or what is financial stability. And as you have said, you need a lot of money or at a bare minimum have some initial money. So you can only do that if you have a stable jobs before you can venture to crypto.

I do understand the point of the OP though, I have been in this kind of situation before, I thought that it will not end and I didn't save my money. And I only do it, I could have been financially stable at a young age. Nevertheless, it's a life lesson to me and it is one experience that I can tell to my kids so that they won't make the same mistakes. Save as much at a young age and invest their money and live a frugal life so that they can build wealth and retire without having to think of money.

Title: Re: Financial stability
Post by: albon on August 15, 2024, 07:55:08 PM
I think you only need to have crypto project where you can make money thru staking to be financially stable. It however requires a lot of money to invest in such poject.

If there is a chance to just get into BTC mining, I think this is also a good way to ahve financial stability. Something of a source of funds that is independent from you being fired by the board.
There is no limit to risk in the crypto market and without experience it will be very difficult to make money from it. However restaurants can be built as a source of income. Because it is a personal need of people and if the quality of your food is good then many customers will definitely come. But crypto is an independent source of funds where you can invest any amount of money at any time So let's research all the ways to strengthen the money making source where the risk will be low and the profit potential will be high.
Title: Re: Financial stability
Post by: robelneo on August 15, 2024, 09:07:20 PM
The ability to be financially stable and to maintain it is very important in our society. There are some factors that hinder financial stability in our society today and they include; poor income, unemployment, lack of savings, excessive debts etc...

Education and how to handle your finances can stop this, If you have education, you can get the best jobs and you will know how to invest in the right projects. you have maturity inhow you handle your finances, so people who wants to have financial stability should focus on education to get a high paying job.
The government and every individual should focus on education to escape poverty.
Title: Re: Financial stability
Post by: Gurujebs on August 15, 2024, 09:25:27 PM

Education and how to handle your finances can stop this, If you have education, you can get the best jobs and you will know how to invest in the right projects. you have maturity inhow you handle your finances, so people who wants to have financial stability should focus on education to get a high paying job.
The government and every individual should focus on education to escape poverty.

You should have added disclaimer and say in places where education is value. There plenty of graduates with Master's degree and PhD that didn't get their dream job despite coming out best in their course of study. If you are raised in a place where if you finished school and you have to struggle to get your dream job, then this advice is not for you.

People now value entrepreneurship and other forms of jobs than the traditional jobs of after school because the pay is not worth the time unlike in tech places where your talent can be fetching you what you really deserved.
Title: Re: Financial stability
Post by: TomPluz on August 16, 2024, 04:17:33 AM
The ability to be financially stable and to maintain it is very important in our society. There are some factors that hinder financial stability in our society today and they include; poor income, unemployment, lack of savings, excessive debts etc...

Education and how to handle your finances can stop this, If you have education, you can get the best jobs and you will know how to invest in the right projects. you have maturity in how you handle your finances, so people who wants to have financial stability should focus on education to get a high paying job. The government and every individual should focus on education to escape poverty.

Education is a big key towards escaping poverty as we know and define it here in my country...but it is not the only critical factor because the reality is that there are so many college graduates who don't have satisfactory jobs and many of those who have jobs are earning money way below the realistic level to enjoy a good life...they are just for survival. Hence, financial stability is beyond the reach of these people. We need education and we need good jobs and opportunities for people to enjoy and exploit so they can experience real financial stability and independence...with many that may even explore their entrepreneurial talents that can be the backbone of a country's economy. Unfortunately, this thing is not very much emphasized during schooling days of our children hence most are just adrift who don't understand financial literacy and who don't how to get there. Our education must be overhauled that can respond well to many new realities in the market and can help people adopt to changes well.




Title: Re: Financial stability
Post by: milewilda on August 16, 2024, 04:16:07 PM
The ability to be financially stable and to maintain it is very important in our society. There are some factors that hinder financial stability in our society today and they include; poor income, unemployment, lack of savings, excessive debts etc...

Education and how to handle your finances can stop this, If you have education, you can get the best jobs and you will know how to invest in the right projects. you have maturity in how you handle your finances, so people who wants to have financial stability should focus on education to get a high paying job. The government and every individual should focus on education to escape poverty.

Education is a big key towards escaping poverty as we know and define it here in my country...but it is not the only critical factor because the reality is that there are so many college graduates who don't have satisfactory jobs and many of those who have jobs are earning money way below the realistic level to enjoy a good life...they are just for survival. Hence, financial stability is beyond the reach of these people. We need education and we need good jobs and opportunities for people to enjoy and exploit so they can experience real financial stability and independence...with many that may even explore their entrepreneurial talents that can be the backbone of a country's economy. Unfortunately, this thing is not very much emphasized during schooling days of our children hence most are just adrift who don't understand financial literacy and who don't how to get there. Our education must be overhauled that can respond well to many new realities in the market and can help people adopt to changes well.
It is the known or nearest solution if you would really be trying out to have a life on having at least that much better in compared to those who didnt able to hit up college or finished up their studies. Although it wont really be that an assurance that everything would really be that be considered to be happening because attaining such degree wont really be giving out that kind of sureness about being having no problem when it comes to finances. This is why dont make yourself that get confident on the time that even if you do have that diploma then you wont
really be able to experience such situation or condition. So it would really be that basing up into extra hardwork and wise decisions that you would really be taking.
Title: Re: Financial stability
Post by: albon on August 16, 2024, 07:52:16 PM

Education and how to handle your finances can stop this, If you have education, you can get the best jobs and you will know how to invest in the right projects. you have maturity inhow you handle your finances, so people who wants to have financial stability should focus on education to get a high paying job.
The government and every individual should focus on education to escape poverty.

You should have added disclaimer and say in places where education is value. There plenty of graduates with Master's degree and PhD that didn't get their dream job despite coming out best in their course of study. If you are raised in a place where if you finished school and you have to struggle to get your dream job, then this advice is not for you.

People now value entrepreneurship and other forms of jobs than the traditional jobs of after school because the pay is not worth the time unlike in tech places where your talent can be fetching you what you really deserved.
Agree with you, because in my country there is a fairy tale where people now prefer to see themselves as entrepreneurs rather than traditional jobs after school. The main reason for this is that an entrepreneur can choose the work he likes and can do his activities as he wants. But the one who works continues to follow the boss's words, because of which his own will is not free. Moreover you will get fixed salary from your job but in that case you can earn a lot of money from business. There is no fixed content of making money in business.
Title: Re: Financial stability
Post by: Dr.Bitcoin_Strange on August 18, 2024, 08:14:07 PM
Agree with you, because in my country there is a fairy tale where people now prefer to see themselves as entrepreneurs rather than traditional jobs after school. The main reason for this is that an entrepreneur can choose the work he likes and can do his activities as he wants. But the one who works continues to follow the boss's words, because of which his own will is not free. Moreover you will get fixed salary from your job but in that case you can earn a lot of money from business. There is no fixed content of making money in business.
Without any doubt, having one's personal business is far more better and has more advantages than having to work for/under someone else, although it's true that there are well paid jobs that can actually appear to be more productive than having one's personal business but that doesn't change the fact that working for others limits you or strips you of certain rights and freedom to do certain things,  like you get told when to report to work, when to dismiss and no matter how much sacrifice or commitment you render to that job, the wage you'll receive at the end would still not be enough to fully compensate you for all the troubles. So at any point in time, no matter the amount of salary promised, the best option still remains to have your own personal business where you control all the affairs of the business, the outcomes and incomes.
Title: Re: Financial stability
Post by: TomPluz on August 19, 2024, 07:43:38 AM
Without any doubt, having one's personal business is far more better and has more advantages than having to work for/under someone else, although it's true that there are well paid jobs that can actually appear to be more productive than having one's personal business but that doesn't change the fact that working for others limits you or strips you of certain rights and freedom to do certain things...

Having your own journey as an entrepreneur can be the best one anyone can find but, of course, not all people are actually made to do business on their own and not are destined and be given the opportunity to do so. In fact, this is what American Dream is all about, to do things on your own and make your own destiny without anyone telling you on what to do and when to do. In Asia, there is a strong entrepreneurial inclination and this has become the backbone of their economies for the past many decades. Only a very few got rich working under the corporate structure but many got wealthy all because they venture on their own. However, it is not an easy journey and many tried and failed on this arena especially if one is not prepared and has no right mindset.



Title: Re: Financial stability
Post by: bitterguy28 on August 19, 2024, 08:54:56 AM
Agree with you, because in my country there is a fairy tale where people now prefer to see themselves as entrepreneurs rather than traditional jobs after school.
people are starting to realize that if you really want to be successful you need to breakthrough something and not just keep following your boss of course it would be difficult as not everyone has that creativity and originality that an entrepreneur should have but if you just observe well i am sure you can think of something and innovate

most schools prepare us to be employees but not many of them prepare us to be our own bosses which is why college should not be seen as the it-all end-all of life it will guide you, yes but it should still depend on yourself if you want to be successful
Title: Re: Financial stability
Post by: milewilda on August 21, 2024, 09:23:53 PM
Agree with you, because in my country there is a fairy tale where people now prefer to see themselves as entrepreneurs rather than traditional jobs after school.
people are starting to realize that if you really want to be successful you need to breakthrough something and not just keep following your boss of course it would be difficult as not everyone has that creativity and originality that an entrepreneur should have but if you just observe well i am sure you can think of something and innovate

most schools prepare us to be employees but not many of them prepare us to be our own bosses which is why college should not be seen as the it-all end-all of life it will guide you, yes but it should still depend on yourself if you want to be successful
Having a boss or simply working on 8-5 job isnt considered to be that financially freed up but rather you are really that being that having that life on which if you are really just that basing up into that job and there would really be no shows of progress and other aspect then you are really just that basically putting up yourself into having a life on not to be that proressive.
This is why people would really be coming up into that idea on trying out to involved into other paths or careers to take on which it isnt really that bad after all.
We are all wanting to have that life on which having no issues about money but we know that not all the time that a certain person would really be able to attain of this
on which there are really that stilll tons who do fail.
Title: Re: Financial stability
Post by: bayu7adi on August 23, 2024, 12:24:29 PM
To be financially stable, one must work towards it and develop mechanisms for upholding that status so he/she won't fall financially one day. If one has 1million in his or her account and can't maintain that status or get source that will provide money, he or she can't be called a millionaire because definitely human needs are insatiable.
Moreover, the standard level of financial freedom for each person is also different, how fast or slow someone achieves it depends on their lifestyle and also on the strength of their income... people who are not greedy, and have a simple lifestyle, when they feel that they have enough with everything they have, they have achieved good financial stability... balanced income and expenses (in this case, if possible, income is greater than expenses), making it easier to measure how strong their finances are.
Title: Re: Financial stability
Post by: Dr.Bitcoin_Strange on August 24, 2024, 01:59:29 PM
In Asia, there is a strong entrepreneurial inclination and this has become the backbone of their economies for the past many decades. Only a very few got rich working under the corporate structure but many got wealthy all because they venture on their own. However, it is not an easy journey and many tried and failed on this arena especially if one is not prepared and has no right mindset.
An entrepreneur indeed has a more higher chances of succeeding or becoming rich than an individual working under a cooperate body, this is mostly because by you'll have room for growth and expansion when you have your own personal business, and that also means growing the income which the business generates in the long run, and this isn't always the case for an employee working under an employer. The employee only depends on his salaries and maybe a few bonuses and benefits which which his office enjoys, and the worst part of this is that, the employer can chose to relieve the employee of his duties at anytime, and in some cases, if he has tangible reasons or if his contract of service has expired, this are the major problems and setbacks that employees encounter, and this isn't always the case of entrepreneurs.
I'm not saying that entrepreneurs don't have their own problems which they deal with, all I'm saying is that, even with the problems and setbacks entrepreneurs encounter in their workspace,  it still remains a far better option compared to being an employee.
Title: Re: Financial stability
Post by: Aanuoluwatofunmi on August 24, 2024, 06:59:02 PM
In our society today, most people work for subsistence purposes only, failing to understand the benefits of building their financial life.
To be financially stable, one must work towards it and develop mechanisms for upholding that status so he/she won't fall financially one day. If one has 1million in his or her account and can't maintain that status or get source that will provide money, he or she can't be called a millionaire because definitely human needs are insatiable.
The ability to be financially stable and to maintain it is very important in our society. There are some factors that hinder financial stability in our society today and they include; poor income, unemployment, lack of savings, excessive debts etc...

Financial stability is not what others think of it to be now, we have to work very hard in other to attain to that pinnacle because its not just by ordinary words of mouth that we attain them, some will tell you that they need to have a diversifies means of having income, while some will say that they needed such in multiple types, that is why you will always discover that even the rich are panting more on getting richer because they don't want to remain on a spot.
Title: Re: Financial stability
Post by: bisdak40 on August 25, 2024, 03:48:30 PM
An entrepreneur indeed has a more higher chances of succeeding or becoming rich than an individual working under a cooperate body, this is mostly because by you'll have room for growth and expansion when you have your own personal business, and that also means growing the income which the business generates in the long run, and this isn't always the case for an employee working under an employer. The employee only depends on his salaries and maybe a few bonuses and benefits which which his office enjoys, and the worst part of this is that, the employer can chose to relieve the employee of his duties at anytime, and in some cases, if he has tangible reasons or if his contract of service has expired, this are the major problems and setbacks that employees encounter, and this isn't always the case of entrepreneurs.
I'm not saying that entrepreneurs don't have their own problems which they deal with, all I'm saying is that, even with the problems and setbacks entrepreneurs encounter in their workspace,  it still remains a far better option compared to being an employee.
[/quote]
Becoming an entrepreneur is very beneficial because it offers opportunities for success than being an employee. When you run your own business, you have the potential to grow and expand, which can lead to higher income over time. but being an entrepreneur is not an easy thing to do where it requires a lot of courage, sacrifices, discipline, and all the values needed to become a successful entrepreneur.
Title: Re: Financial stability
Post by: Dr.Bitcoin_Strange on August 25, 2024, 05:40:12 PM

Financial stability is not what others think of it to be now, we have to work very hard in other to attain to that pinnacle because its not just by ordinary words of mouth that we attain them, some will tell you that they need to have a diversifies means of having income, while some will say that they needed such in multiple types, that is why you will always discover that even the rich are panting more on getting richer because they don't want to remain on a spot.
You're right, it's impossible to attain financial freedom or financial stability by simply just saying, thinking or even wishing it. Financial stability isn't a position that everyone can attain, it takes only those with determination and hardwork, with some level of smartness to get there, and not for dreamers, wishers and lazy people. Just like the popular saying,  if wishes were horses,  then even beggers would ride on them, it takes more than just wishing to be gain financial freedom to actually achieve it.

Another thing I understand about attaining financial freedom is that it's not just about having a huge some of money stacked up somewhere, asides stacking up a good amount of money, there are two more things a person needs to have in order to proudly say they've attained financial freedom or stability.  First thing is to have a good management skill, a person can have a huge amount stacked up somewhere, maybe through inheritance or other means, he cannot boast of being financially free if he doesn't know how to manage the resources he has in his custody because without a good management skill, all the money would be lavished on irrelevance and would disappear in matter of months.
Another thing is also to have available sources that can help you raise money in situations that requires you to come up with an amount that's more than your emergency fund. That way you can tackle any kind of financial issues without struggling and still maintaining your current financial state.
Title: Re: Financial stability
Post by: Parzival204 on August 26, 2024, 06:02:59 AM
Maybe now the most important thing is how we invest for the future. Because if we only rely on the money in our account, perhaps in the future there will be inflation. However, if we invest from now on, maybe in the future we will get the results even though we don't see them now. Instead of the money we have What we have now is used up for extravagance or for needs that we don't really need, right? So the most important thing now is how we invest in our future, don't be too tempted by other people's lifestyles.
Title: Re: Financial stability
Post by: Bobcrypto on August 26, 2024, 09:10:51 AM
It very difficult to attain or maintain financial stability, and there are reasons why this status is not easy to sustain in a life time. To be financially stable may be attain at certain periods, probably at young ages to a set time of retiring from active works or business. Again, some persons may attain financial stability at the early ages but may become unstable when getting older.while there are person that could be financially stable even at older stage of life
Now there are factors that could hinder individuals financial stability and these includes, poor background,  no education, Unemployment, bad government policy for businesses, Natural deficiency, Laziness etc.
Title: Re: Financial stability
Post by: Kemarit on August 28, 2024, 04:29:58 AM
Maybe now the most important thing is how we invest for the future. Because if we only rely on the money in our account, perhaps in the future there will be inflation. However, if we invest from now on, maybe in the future we will get the results even though we don't see them now. Instead of the money we have What we have now is used up for extravagance or for needs that we don't really need, right? So the most important thing now is how we invest in our future, don't be too tempted by other people's lifestyles.

The question is, where are you getting the money to invest with? So at least give a decent job and invest in yourself because that is the best investment you can have in your life. And then start from their, if you save enough money then go out and invest and then venture on other things as well.

And have other source of income, not just your job, your business, and others and you have to shift your mindset and think always that you will succeed in your life and no matter what the challenges is, you will survived in the end. Just be very positive and have goals to really become financially stable in the future and have a lot of money.
Title: Re: Financial stability
Post by: Dr.Bitcoin_Strange on August 29, 2024, 01:21:27 PM
It very difficult to attain or maintain financial stability, and there are reasons why this status is not easy to sustain in a life time. To be financially stable may be attain at certain periods, probably at young ages to a set time of retiring from active works or business. Again, some persons may attain financial stability at the early ages but may become unstable when getting older.while there are person that could be financially stable even at older stage of life
Now there are factors that could hinder individuals financial stability and these includes, poor background,  no education, Unemployment, bad government policy for businesses, Natural deficiency, Laziness etc.
I think one major factor that contributes to this kind of scenario is being cut off from your source of wealth or finance, a lot of people gained financial freedom through a particular means that only existed for a number of years, and after a few years, they Lose that source, maybe because  because the services they rendered were no more required or just as you've stated, due to government policies or lack of innovative ideas to push the business to the next level in order to keep the business thriving,  and due to anybody these reasons, they're kicked out of business, and you know one thing about money is, no matter how much you've got stacked away, the more you keep spending it without a source to replace the ones you've taken out, gradually the value of your stash will reduce and before you know, everything will be completely gone, and that's exactly how some people move from being financially free to losing that status.
Title: Re: Financial stability
Post by: Hatchy on August 29, 2024, 11:55:44 PM
Great points but we should also know that Building financial stability isn’t just about having money though, it is mostly about making smart decisions and the right decisions, like investing wisely and staying informed from the right sources. Cryptocurrencies can be part of this, but they need to be handled carefully and wisely.. Financial stability comes from earning, saving, and understanding how to manage money well, especially in the world we live in today.
Title: Re: Financial stability
Post by: bitterguy28 on August 30, 2024, 04:54:45 AM
Great points but we should also know that Building financial stability isn’t just about having money though, it is mostly about making smart decisions and the right decisions, like investing wisely and staying informed from the right sources.
couldn’t agree more in today’s time money can be easily spent if you are not smart enough money that you worked really hard for just to earn meanwhile even if you do not have much money but you know how to manage it and have an idea how to increase your money then for sure you will find success and financial stability
Quote
Cryptocurrencies can be part of this, but they need to be handled carefully and wisely.. Financial stability comes from earning, saving, and understanding how to manage money well, especially in the world we live in today.
sometimes even if we are earning it’s still not considered stable because we are just earning to survive today and we have no plans for the future i know i am financially stable if i stopped working today and can still live for many years outside poverty
Title: Re: Financial stability
Post by: Asiska02 on August 30, 2024, 08:46:35 PM
The ability to be financially stable and to maintain it is very important in our society. There are some factors that hinder financial stability in our society today and they include; poor income, unemployment, lack of savings, excessive debts etc...

Humans are insatiable but it still doesn’t mean the quest to look for more money and to be financially stable should not be your top priority. Like you should try and reach out for more and not limit the extent to which you can achieve and get somethings in life. Humans are insatiable but if you’re able to get some limits of money to be able to say you’re living a life of sustainability, you’re living amongst the top 50% people satisfactory people in the world.

Being financially stable is the goal of every human but the path to make it a success is what differs for each person and some lack behind base on some other factors that can be considered to be from them or some due to environmental factors. Humans are insatiable but if you’re earning some amount of money that can cater for your needs and not feel hungry throughout the monthly period you receive a pay, I will say you’re doing well and have no reason to be insatiable in a place where people that don’t get to eat to their satisfaction every day talks.
Title: Re: Financial stability
Post by: Gurujebs on August 30, 2024, 09:14:24 PM
Maybe now the most important thing is how we invest for the future. Because if we only rely on the money in our account, perhaps in the future there will be inflation. However, if we invest from now on, maybe in the future we will get the results even though we don't see them now. Instead of the money we have What we have now is used up for extravagance or for needs that we don't really need, right? So the most important thing now is how we invest in our future, don't be too tempted by other people's lifestyles.

Inflation isn't perhaps, it's something that has been happening right before we were born and will continue to exist as long as fiat system exist. You know that the government is printing money out of nothing and this is giving the currency less value on and on and this is what has been happening for many years and as long as this continue, inflation will surely happen.

Invest today and enjoy the uncertainty of tomorrow, this is the main reason why you should invest. Put money into something that will give value to you and also shape your future because you never can tell for sure which will give you the best return on investment.
Title: Re: Financial stability
Post by: Agbe on October 25, 2024, 08:40:52 AM
I believe that if one is to become financial stable it requires allot of hard work and discipline as as financial stability is a product of the life style one lives, self control and setting priorities over needs and wants is key as it will help how one spend his or her finance.
Having a good source of income is also play a part as it it contribute in one becoming financial stable
Title: Re: Financial stability
Post by: philipma1957 on October 25, 2024, 04:13:54 PM
Quote
Financial stability is the ability of an individual to experience bankruptcy. As it can ensure long term financial security



Do you even know the meaning of bankruptcy? I am talking of how someone can be financially stable, and be able to afford his or her basic needs and wants, and you are saying financially stability is the ability to experience bankruptcy.
You are totally wrong and not getting the full story well...

Maybe he meant you need to tap out and go broke and survive that.

If you never went broke and recovered you can't be stable.

I happen to disagree with him.

But I can tell you the outside world can hurt your dollar bigly.
Title: Re: Financial stability
Post by: bhadz on October 25, 2024, 04:15:26 PM
If a man is free and have a lot of time to do things that he wan, then for sure that man is a financial stable person. Having freedom, financially and anything that you want to do is making you a rich person. While so many rich people that could be said as financially free but they're chained to do their own things trying to maintain their wealth. And that's why the real wealthy people are the ones enjoying life to the fullest.
Title: Re: Financial stability
Post by: bisdak40 on October 25, 2024, 04:40:08 PM
Many people work to get by without thinking about building up their financial future. To stay financially stable, you’ve got to work at it and set things up to keep it that way otherwise, you might end up struggling down the line. one way to achieve financial stability is by watching videos about financing and books that can help your finances.