Investopedia

Continue to Site »

Quality Of Life

Filed Under » ,
Dictionary Says

Definition of 'Quality Of Life'

A highly subjective measure of happiness that is an important component of many financial decisions. Factors that play a role in quality of life vary according to personal preferences, but they often include financial security, job satisfaction, family life, health and safety. Financial decisions usually involve a tradeoff where quality of life is decreased in order to save money or, conversely, quality of life is increased by spending more money.
Investopedia Says

Investopedia explains 'Quality Of Life'

Commuting to work provides a good example. It is possible to save money on housing by living further away from popular job centers and commuting to work. However, commuters don't have as much time to spend with family or on hobbies because of the extra time spent sitting in traffic. Some people consider this tradeoff worthwhile, while others choose to maximize their quality of life by spending more money to live closer to work.

Quality of life is also an issue when developing a personal savings plan. In this case, the tradeoff involves a sacrifice of current quality of life in order to improve future quality of life.

Articles Of Interest

  1.

    The Beauty Of Budgeting

    Make it to the end of the month, before you run out of money.

  2. 5 Signs That You're Living Beyond Your Means

    Learn what to watch for before you find yourself drowning in debt or filing for bankruptcy.

  3. Are You Saving Too Much?

    "Spend now! Don't worry about retirement," say some experts. Could they possibly be right?

  4. Why The Consumer Price Index Is Controversial

    Find out why economists are torn about how to calculate inflation.

  5. 5 Smart Ways To Use Your Tax Return

    This year, find out how to stretch your tax refund further to strengthen your future.

  6. 10 Financial Gifts To Give Your Daughter

    Teaching your daughter about money may be a gift you can give that can last for a lifetime.

  7. 5 Painless Ways To Save More Money

    Saving money can be a chore, but these tricks put money in your pocket with no effort at all.

  8. Debunking 10 Budget Myths

    Don't let these excuses prevent you from reaching your financial goals.

  9. Is Working Longer A Viable Retirement Plan?

    People who are planning poorly for retirement are simply deciding to work longer - often out of neccessity. Is this a smart idea?

  10. 5 Ways To Stretch Your Retirement Budget

    Living comfortably can be easy if you follow a simple plan.
comments powered by Disqus
Marketplace
Hot Definitions

  1. Glocalization

    A combination of the words "globalization" and "localization" used to describe a product or service that is developed and distributed globally, but is also fashioned to accommodate the user or consumer in a local market.

  2. Disaster Loss

    A special type of tax-deductible loss, similar to a casualty loss, where a loss has been incurred by taxpayers who reside in an area that has been designated as a federal disaster area by the President.

  3. Fool In The Shower

    The notion that changes or policies designed to alter the course of the economy should be done slowly, rather than all at once.

  4. Pattern Day Trader

    An SEC designation for traders who trade the same security four or more times per day (buys and sells) over a five-day period, and for whom same-day trades make up at least 6% of their activity for that period.

  5. Cost-Push Inflation

    A phenomenon in which the general price levels rise (inflation) due to increases in the cost of wages and raw materials.

  6. Happiness Economics

    The formal academic study of the relationship between individual satisfaction and economic issues, such as employment and wealth.
Trading Center
Array ( )
taggroups(for debug only):
Array ( [0] => Savings [1] => Budgeting And Saving Couple [2] => Budgeting And Saving Career [3] => Saving And Budgeting For Retirement [4] => Saving And Budgeting Retirement [5] => SEG (Head Of Households) [6] => SEG (Head Of Households:Account-Savings) [7] => Markets ) time:13ms