Countries With the Best Quality of Life

 What is quality of life?

Quality of life is a highly subjective measure of well-being and an essential part of many economic decisions.

Factors that influence quality of life vary depending on individual preferences, but often include financial security, job satisfaction, family life, and health and safety.

Financial decisions often involve trade-offs between saving money and lowering your quality of life in order to earn more money.

Conversely, spending more money will improve your quality of life.

Key Findings Quality of life can be directly related to job satisfaction.

Measures non-financial aspects of work that can lead to employee satisfaction or dissatisfaction.

Common elements of quality of life are leisure, commuting, weather, and harmonious relationships with others.

Canada and many Scandinavian countries value the quality of life of their citizens.

Quality of life measures may vary from person to person.

Understanding Quality of Life Quality of life is a non-economic factor related to work and life satisfaction.

In work-related terms, "life skills" often refers to the time and ability to do what you love.

If a job pays a high wage but requires long hours so that the worker cannot enjoy the money he or she earns, it results in a poor quality of life.

If the job provides time to enjoy life, but the worker is too tired, injured, stressed, or otherwise unable to enjoy the money they earn, this has a further impact on quality of life.

These days, it's common to weigh both salary and quality of life when deciding whether a job is good or bad.

Quality of life is also an issue when developing a personal savings plan.

In this case, the trade-off is sacrificing current quality of life in order to improve future quality of life.

This may include limiting your immediate spending by purchasing less expensive items rather than more expensive premium items.

Quality of Life Factors Commuting is a good example of quality of life.

It is possible to save on housing costs by living and commuting away from popular job centers.

However, with extra time spent sitting in traffic or taking public transportation, commuters don't have as much time to spend on their families and hobbies.

Cheaper housing areas also tend to be further away from arts, culture, and entertainment.

Some people find this trade-off worth it, while others choose to maximize their quality of life by spending more money to live closer to their work and culture.

Some workplaces may expose employees to potential hazards such as hazardous chemicals, heavy equipment, and a high risk of falls and other injuries.

The possibility of harm that can affect the enjoyment of life is weighed against the possibility of harm that can affect the enjoyment of life, versus earning a high salary from unpleasant work that allows the worker to provide the lifestyle they want for themselves and their families.

Time spent at work compared to leisure time is another measure of quality of life.

Working professionals may choose high-paying jobs that require them to regularly work long or extended hours to earn the income they desire.

This may include extended travel for face-to-face meetings in remote locations.

Such a decision may give you more money for your personal life, but it also limits the amount of time you have for vacations and other personal activities, the things you were originally saving money for.

Working conditions are another aspect of quality of life.

Various jobs can require extreme effort, including manual labor and repetitive tasks, which can take a toll on the body over time and lead to long-term disability.

Conversely, work can severely limit workers' freedom of movement because of their limited space.