Standard of living, refers to the level of wealth, comfort, material goods, and necessities available to a certain socioeconomic class or geographic area. Standard of life is focused primarily on the physical comforts based on the outside sources where as a person you have no control. Thus the pleasure received keeps on fluctuating because pleasures and sufferings are two sides of the same coin only.
Quality of life is a highly subjective measure of happiness which is an important component of many financial decisions. Factors that play a role in the quality of life vary according to personal preferences, but they often include financial independence, job satisfaction, family life, health, and safety. Quality of life is focused on living the life of your choice while standard of life is based on the life of others around you. Quality of life means you are managing all life situations from the base of bliss from within.
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