Understanding the Standards of Living
The right for an adequate standard of living requires everyone to enjoy the necessary subsistence rights which would be having adequate food and nutrition, housing, clothing and also the necessary conditions of care when required. The important thing is that everyone should be able or without shame and without unreasonable obstacles in order to be a full participant in ordinary, everyday interaction with other people. Which is why, people must be able to enjoy their basic needs in conditions of dignity. No person deserves to live in conditions to where the only way of how they are able to satisfy their needs is through degrading themselves or perhaps to deprive themselves of their basic freedoms through begging, forced labor or prostitution.
In pure material terms, adequate standard of living implies on the case of living above the poverty line which according to the World Bank includes two elements which are the expenditure necessary to buy a minimum standard of nutrition and other basic necessities and further amount which varies from every country, which reflects the cost of participating in everyday life of society.
The economic, social and cultural rights are the things that instruments and establishes the principle of the progressive realization, where such principle does not exclude with immediate obligations or the steps towards this goal should be taken immediately. In addition to the prohibition of discrimination towards any kind regarding on the access to adequate food, clothing and housing on the grounds of language, sex, race, color, religion, age, political or other opinion, property, birth, national or social origin or other status, with the purpose of nullifying or impairing the equal enjoyment or exercise of this right, which is an immediate application for the states parties to major human rights treaties.
The standard living if a person is not determined only by himself or base on his desires. He also needs to consider what the society expects of him. This is considered to be a compromise between what he likes and on what society expects.
Quality of life in fact is a highly subjective measure of happiness, which actually is a crucial component towards various financial decisions. Factors that plays a role on the quality of life will have its variation based on your personal preference, but it mostly includes family life, financial security, job satisfaction, health and safety. The financial decisions mostly involves trade off where quality of life is decreased in order to help save money or that the quality of life will be increase by spending more money.