The term “financial empowerment‟ has many aspects. On a general note, it means being self-sufficient with money, so much so that you don‟t keep wanting for more. You have your financial coffers full and for any of your needs, you just have to plunge into them and get at the money. A person who is financially empowered is thus dynamic economically as well, because he or she is able to use money to attract more money and wealth.
This speaks about financial empowerment on an individual note. However, there is also a social aspect to it. Analysts also speak about financially empowering a particular section of people, such as empowering the youth or the seniors or the sick or the women. In each context, it means self-reliance. These particular sections of society are usually dependent on other active and earning classes for their monetary requirements. When economists speak about financially empowering these groups, what they mean is that these groups should be self-sufficient and not have to depend on others.
However, in this eBook we are going to confine ourselves to individual financial empowerment. We are going to speak about how an individual – that is you – can become self-reliant with money. It is a truly great feeling not having to depend on anyone else for your financial requirements and not everyone can do that. But if the right steps are taken, this is very much achievable.
The solutions mentioned in this eBook are going to be simple, but it is in the implementation of them that their true worth comes out. This is
what you have to know. No financial empowerment techniques are of any value unless and until they are really implemented in the right away. The approaches must see action. From here, we begin our journey to financial empowerment. Understand the concepts and implement them and you will see how they start working for you.
Table Of Contents
What is Financial Empowerment?
Ability v/s Action
The Four Fundamentals
The Sum of Five
Understanding the Concept of Assets
Building Your Assets
Investing in Education for Your Financial Empowerment
Enhancing Your Financial Coffers with Recreation
The Long Haul
Staying Upwardly Mobile