Money | SmarterLifestyles (2024)

FAQs

How to answer "Do you have money?"? ›

As it's extremely casual, you cannot rely on grammatical rules. A positive question is easier. “Do you have any money?” “No (I don't)” or “Yes, I do”.

Traveling, getting to know new places, people, customs, lifestyles enrich us. I've traveled the world but I'm sorry I didn't travel even more. And with so much money, if I had it for ten lives, I could help the people I meet along the way, the people who really need help. A life lived that way would be worth ten lives.

The amount of R2 lakh per month should be enough for a comfortable middle-class life in a city in India. But then, our life does not stop at needs. There are wants and desires. You need more than R2 lakh a month for those looking for more comfort.

The study found that a person needs an average of $96,500 for sustainable comfort in a major U.S. city. It's even more expensive for families, who need to make an average combined income of about $235,000 to support two adults and two children without the pressure of living paycheck to paycheck.

A medium of exchange that is centralized, generally accepted, recognized, and facilitates transactions of goods and services, is known as money. Money is a medium of exchange for various goods and services in an economy. The money system varies with the governments and countries.

Basically, it could be defined as 'not paying more for a good or service than it's quantity and quality. ' In Public Sector finance, Value for money is concerned with obtaining the best possible combination of services from the least resources. It is thus, the pursuit of economy, efficiency and effectiveness.

“A good rule of thumb is to aim to have saved 25-30 times the amount you'll spend each year, less any guaranteed income sources.

Let's start with “enough” defined at its most basic level: “it's as much money as you need to cover your basic needs and no more”.

Money contributes to happiness when it helps us make basic needs but the research tells us that above a certain level more money doesn't actually yield more happiness.

What is enough money to survive? ›

An individual needs $96,500, on average, to live comfortably in a major U.S. city. That figure is even higher for families, who need to earn an average combined income of about $235,000 to support two adults and two children.

The $75,000 Study

This belief is supported by a widely publicized 2010 study led by Daniel Kahneman and his Princeton colleague, Angus Deaton — both winners of the Nobel Prize in Economics — which concluded that happiness only increases with income up to $75,000.

While $200 a day may not seem like a lot of money compared to what some people make, it can add up quickly over time. If you're able to make $200 a day consistently, that's $6,000 a month or $72,000 a year. For many people, this is a substantial amount of money that can make a significant difference in their lives.

The national median for living comfortably alone is $89,461, which suggests that a 50/30/20 budget might not be practical for most single people.

The average monthly expenses for a single person will depend quite a bit on where you live, and if you're living alone for the first time, you might be surprised that most things cost more, not just your rent. The national average expenses for a single person living alone are around $3,500 per month.

If you have to say no when someone asks for money, try to be honest but also compassionate and respectful. Express empathy and understanding for their situation and assert your financial boundaries.