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. How To Match Your Savings Goal With Investments

    Sometimes beginning investors forget the trick to success when it comes to investing money: you need to match your future financial goals to the right kind of investment.

  5. 8 Clear-Cut Ways To Becoming A Better Saver

    These sure-fire budgeting tips will boost your savings quickly. The only trick is setting aside your excuses are getting started!

  6. 3 Financial Tasks We Think Are Harder Than They Really Are

    Use these three tips to help put your financial situation into perspective. It turns out, organizing your finances isn't nearly as hard as you thought.

  7. Why The Consumer Price Index Is Controversial

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

  8. 5 Smart Ways To Use Your Tax Return

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

  9. 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.

  10. 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.
comments powered by Disqus
Marketplace
Hot Definitions

  1. Network Effect

    A phenomenon whereby a good or service becomes more valuable when more people use it. The internet is a good example...

  2. Racketeering

    Racketeering refers to criminal activity that is performed to benefit an organization such as a crime syndicate. Examples of racketeering activity include...

  3. Lawful Money

    Any form of currency issued by the United States Treasury and not the Federal Reserve System, including gold and silver coins, Treasury notes, and Treasury bonds. Lawful money stands in contrast to fiat money, to which the government assigns value although it has no intrinsic value of its own and is not backed by reserves.

  4. Fast Market Rule

    A rule in the United Kingdom that permits market makers to trade outside quoted ranges, when an exchange determines that market movements are so sharp that quotes cannot be kept current.

  5. Absorption Rate

    The rate at which available homes are sold in a specific real estate market during a given time period.

  6. Yellow Sheets

    A United States bulletin that provides updated bid and ask prices as well as other information on over-the-counter (OTC) corporate bonds...
Trading Center