Member story
Financial well-being of a family is the level of prosperity, poverty or wealth of an individual unit of society.
The ability to meet the needs of parents and children with money, measured by a special formula. It includes income, expenses, assets and liabilities of the household. In theory, everything is quite simple, but in practice a lot of controversy arises. In fact, absolutely everything is taken into account in the family budget! To determine the level of well-being, the formula is taken: income from assets - expenses. Liabilities and salaries are not used at all. According to this formula, a family may actually end up poor, since there are no assets at all, but the expenses are decent. Yes, they live quite normally as long as their salaries are maintained, but in the event of any storm the risks and deficits increase many times over. A grandmother with a meager pension, living in a two-room apartment in the center of some large capital, seems to be a millionaire, but according to financial literacy she is a very poor person.