Quote from: Mame89 on May 31, 2025, 02:43:45 PM

Quote from: Su-asa on May 27, 2025, 08:44:44 PM

Quote from: Stepstowealth on May 19, 2025, 01:47:12 PM

What do you understand by standard of living how do you think it can be affected by savings and investment. For instance do you think an individual who is actively trying to save and invest can improve their standard of living SIGNIFICANTLY or even maintain the one they already have?

Would you advise an individual to try improve their standard of living as they save and invest since saving and investment is a continuous process?

I am sure that you already know that the more you earn it's also the more you spend and it's very important not to spend more than you are earning because you will be a defaulter because am sure with such stand he or she can not pay back his or her depts.
However, one must learn to cut their costs according to their size. Which means if you want to want to begin investment and saving and keeping a standard of life, you should also earn more. But if you are earning lower, you should maintain a certain standards do that you can meet up.

As is commonplace, the more sources of income, the greater the expenditure. Or in other words, the standard of living will automatically increase, but we must be smart in managing it well so that it does not become excessive so that expenditure is higher than income. The standard of living is important, but saving and investing are also important. All three must be in harmony so that we achieve financial freedom in the future.

Not more expenses and less savings and investment. Because if this happens, no matter how much you earn, it will not be enough. In my opinion, saving, standard of living and investment are already a package. So it must be carried out in tandem with the note that income must continue to increase, do not be fixated on one job and of course must dare to get out of the comfort zone. The point is, no matter how much income, expenses must still exist. Because managing expenses is easier than managing income.

More source of income comes with greater responsibilities so a good income will not free you from financial stress for anyone to have financial freedom then such a person should adopt investment because what makes people to stay ahead of financial pressure is making sure that you invest in a productive venture which will be helpful to you as a person