Financial Empowerment and Your Environment

Table Of Contents
Chapter 1:
What is Financial Empowerment?
Chapter 2:
Ability v/s Action
Chapter 3:
The Four Fundamentals
Chapter 4:
The Sum of Five
Chapter 5:
Understanding the Concept of Assets
Chapter 6:
Building Your Assets
Chapter 7:
Investing in Education for Your Financial Empowerment
Chapter 8:
Enhancing Your Financial Coffers with Recreation
Chapter 9:
The Long Haul
Chapter 10:
Staying Upwardly Mobile
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Introduction
Financial Empowerment is the buzzword for the new generation. This is the jet-set generation that wants to be self-sufficient in what they have, never have a need for more and keep attracting more even as they sleep.
But what makes them different from others who aren’t financially empowered already? What can the have-nots of this generation do to elevate themselves to the status of the haves?
Most importantly, is this upward transition possible?
Here’s what it takes in today’s world to reach at the top economic pedestals of society. This is what it takes to reach the Fortune 500 lists and then stay there.
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Chapter 1:
What Is Financial Empowerment?
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Summary
Here’s a look into what financial empowerment really means.
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What Is Financial Empowerment?
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.
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.
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Chapter 2:
Ability v/s Action
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Summary
Being able is one thing. That creates potential in you, but it doesn’t empower you. The empowerment comes through putting your ability into action.
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Ability v/s Action
There is a wide gulf between ability and action in the world that we live in. There are millions of people out there who are capable of doing something. They might even have the right academic qualifications and some might even have an experience. But then these people aren‟t putting their talents to the right use. Think about something that can teach excellently, but doesn‟t put that talent to use. This teacher is instead doing a desk job because according to him or her that‟s a safer bet. Now, the desk job can only take the person so far because he or she doesn‟t really like doing that stuff. However, if this person had taken the bigger step of going ahead and teaching – overcoming any limitations in the way, such as stage fright – it is highly possible that he or she would be much better financially stable and empowered today.