What is quality of life?

Definition and Examples of Quality of Life

Quality of life is a personal and highly individual evaluation of one’s overall well-being. Factors that affect quality of life include financial security, job satisfaction, and health.

How Does Quality of Life Relate to Money?

There are many factors influencing quality of life related to personal finance. While financial stability can be an indicator of good quality of life, experts have noted the importance of finding a delicate balance between work and play. People who work long hours or multiple jobs often have less time to enjoy those earnings through experiences with friends, family, hobbies, and vacations.

Other Factors Affecting Quality of Life

Here are some additional factors that can influence your quality of life, including:

How to Improve Quality of Life

Strategies for increasing your quality of life depend on your starting point. Those facing financial insecurity or health issues will encounter different challenges and opportunities than individuals whose main concern is achieving a better work-life balance.

Notable Events

In 2021, Canada, Denmark, and Sweden ranked first, second, and third on the list of countries with the highest quality of life, while the United States came in twentieth. The study was based on a survey of over 17,000 people worldwide, using averages derived from factors related to quality of life.

Source: https://www.thebalancemoney.com/what-is-quality-of-life-5212699