Financial Empowerment Starts with

the Right Mindset

Many members of Gen X and Gen Y have difficult or
downright negative relationships with money. Maybe you
feel you’ll never have enough because it’s too scarce of a
resource and there’s not enough to go around. Perhaps you
feel that money is evil and those that seek to make more of
it are bad or greedy.

But this is us, as emotional creatures, placing feelings and

creating stories around finance. In reality, you can use your
money as a way to build the life you really want to live —
and that can include very selfless, meaningful, and fulfilling
things like volunteering your time, giving to charity, or
working in some way to help better the lives of others.

We can’t do this if we believe money is bad or that our

financial goals are simply out of reach because we don’t
have enough money. It may sound cheesy, but the first step
to financial empowerment is a mental one. We need to
believe and understand that we can successfully manage
our money to reach our goals and live our idea of a great life.

Release your negative money scripts and embrace a more

positive mindset. This might mean shutting down thoughts
that sound something like this:

 “I will never have enough money.”

 “I can’t make more money.”
 “My income and my savings are out of my control.”

If you think that way, stop now! Instead, focus on thoughts

that go a little something like this:

 “I can take action to change my financial situation.”

 “There are solutions to what I currently perceive as
problems with my money.”
 “I have options when it comes to my finances.”

This may not be easy to do at first. But stick with those

positive thoughts! Combined with your next step, it’s a
powerful way to feel that you do have a say in what
happens with your money.

Developing the Knowledge — and

Team! — You Need to Reach Your
Financial Goals
The most important thing you can do for your money: learn
about it! Building your financial education is the next action
step if you want to feel empowered to make the right
decisions that will lead to success.

This may sound daunting, especially if you’re building this

foundation of knowledge from the ground up. But remember
two things: everyone, even the financial experts, starts
somewhere — and it’s easier than ever for motivated
individuals to seek out and collect the information they need
to make informed, empowered choices around money.

The internet gives us access to a wealth of information

about personal finance, money management, and
nontraditional concepts of how we can use our money (like
financial independence). While you do need to use good
judgment and seek out information from a variety of sources
to verify accuracy of data and statements presented as
facts, if you’re willing to sift through what’s out there you’ll
be rewarded with a rich base of financial knowledge.
 Financial blogs and podcasts are a great (and fun!) way to
start diving in. Lots of people blog to share there
experiences in getting out of debt, investing more, reaching
major financial goals, or finding new ways to earn money
(and to earn more money). Reading along can provide you
much needed inspiration and motivation — along with a lot
of education.

Of course, nothing beats getting one-on-one time with

professionals to really learn what you need to know about
money. Keep in mind that while lots of folks out there know
their stuff, a certified financial planner (or CFP®) has gone
through years of education, experience, and continuing
training so they can provide others with the best advice and
recommendations possible.

Hearing from CFPs and other financial pros is simple and

easy with XYPN. Each Friday, we provide a roundup of our
financial planner’s blog posts — and of course, you can
check in on our own blog every Wednesday. We also send
out a biweekly newsletter complete with a special money tip
from an XYPN advisor. And of course, you can learn more
about our advisors themselves by visiting the Find an
Advisor portal. You can browse through to find an advisor by
specialty, by age, and more.

When looking for a financial advisor, consider asking these

questions to determine if they’re a good fit for you:

 Are they a fiduciary? A fiduciary will work in your best

interests at all times. If an advisor won’t sign a fiduciary
oath for you, you need to continue looking for a financial
planner.
 What kind of experience do they have? Ask about a
potential financial planner’s background and understand the
education, training, and work experience they have
 What are their qualifications? The gold standard for
financial service professionals is the CFP designation.
 How are they paid? It’s important to understand how an
advisor receives earnings. Are they on commission? Do they
charge by the hour? Fee-only advisors offer a flat fee for
their services and don’t make money off commissions —
and don’t push products to try to force sales.
 What services do they provide? Your needs are unique to
you — and you should look for a financial pro who
understands and respects those needs, along with what you
want to achieve with your finances. Look for an advisor who
specializes in clients like you, or has experience in helping
others achieve big financial goals you want to reach for
yourself.

Empower Yourself to Do More with

Your Money
Financial empowerment starts with setting the right
mentality, and continues when you choose to educate
yourself and build a team of financial professionals to help
you achieve more.
Speaking to The Positive, London-based Financial Empowerment Coach, Lavinia Osbourne, stressed
the importance of improving our financial literacy in order to approach our finances with confidence.
She explained that because financial education is not taught at school, a vast majority do not have
an in-depth understanding of finance and of how it applies to them.

”We grow up being told half-truths about finances,” she said, adding that words such as “mortgage”
and “debt” seem intimidating to many because they have not been given sufficient information
about these concepts and how to apply them to their individual situations and needs.

Lavinia Osbourne established her financial consultancy after the 2008 global financial crisis hit both
her personal and professional lives. Despite being a highly educated professional and having more
than one language under her belt, she was made redundant and lost all that she had gained over the
preceding ten years.

After taking up financial literacy studies, she gradually found that her “employee mindset” began to
shift to a more “entrepreneurial mindset”. Today, she teaches financial literacy seminars, such as her
upcoming workshop titled “More to Money than Bills, Debt and Mortgages” on April 13th, and
provides one-on-one financial coaching and planning.
Sharing her tips on how to become more financially empowered, Osbourne pointed out the need to
become more aware of your “personal financial landscape” by considering what you are spending
and why you are spending as you are. Assess your relationship with money. Do you view money in a
positive or negative light? Do you understand money as manageable or difficult to deal with?

To become more aware of your own financial environment, Osbourne emphasized the importance
of brushing up on financial literacy. “In every challenge there is an opportunity to grow,” she said.
Taking courses, seeking professional help and research will help you to gain a thorough knowledge
of financial concepts and how they truly apply to your individual financial situation.

Seek out alternative ways of earning revenue. “There’s no such thing as a job for life” in today’s
economic climate, said Osbourne. “You have to have a plan b, c and d”. Nowadays there are
countless opportunities for earning extra income, such as starting an online business. “Think big;
start small,” she said. “Take small steps and work your way up”.

Establish a plan to gain focus, be it a financial, life or tax plan. Pensions are a predominant issue
among Osbourne’s clients, particularly affecting women that have been stay-at-home mothers. She
explained that more women are retiring into poverty nowadays, but with the resources available for
working from home, it is not impossible to avoid this issue.

For first time buyers, Osbourne recommended thoroughly researching and educating oneself on all
available options, such as below market value properties. She warned that interest rates will see and
increase, as inflation is rising while interest rates have been suppressed

- See more at:

http://thejupital.com/financial-empowerment-in-todays-economy/#sthash.uYokUAJc.dpuf

Seven key steps to Financial Empowerment

The 7 steps below are for anyone wishing to take control of their financial future. They are what
many of the super rich have done and continue to do to place themselves in a position of greater
financial strength. If you apply them, you to can reach a position of greater Financial Empowerment.

Here they are:

Eliminate Debt

This can sometimes be an overwhelming subject. Although this maybe the case, it is one of the most
important steps when it comes to Financial Empowerment. Start by taking stock of where you are
today by putting in place a budget. Next track all of your expenditure. This will help you identify
where all you extra money is going and what is keeping you from hitting your financial goals.
Consolidate any debts you may have e.g. credit cards, personal loans, student loans, store cards etc.
Quite often debt is caused not by not having enough money, but by the mismanagement of what we
do have.

Make regular SAVINGS in tangible assets

This can be done with Real Estate, Gold and other precious metals, Antiques, Coins, Savings Bonds,
Cash etc. Simply, tangible means there is value in their substance.

Create Multiple Sources of Income (MSI)

Put simply, the cure to harsh economic times is to develop and grow multiple sources of income
when securing your financial future. Anything that will provide you with a positive cash flow is very
important. No longer is security in just holding down a job. It is simply just one of many sources of
income. A home based business is a great area to start developing other sources of income.

Become a Supplier of in-demand products

The great thing about the human race is that we all consume products one way or the other. This
step requires a bit of thought on what you can supply that is in demand. It’s about seeing a need in
the market place and filling it. Or said even simpler is to solve their problem with your product or
service.

Make Compounding labour work for you

One of the best ways to achieve this is to duplicate you efforts through a business with a system.
There are many real life examples of people who have made this happen. One of the most common
we all know is Ray Kroc, the Founder of the McDonald’s business model. Start to think of ways that
you can make this happen for you. Network marketing is one of the best models I know that can
help you to achieve this by following a system of proven success. Beware though that not all of the
network marketing companies have a duplicate system of success – so do your research.

Asset class Diversification

This step is quite self-explanatory. Having a diversified set of assets can mean minimizing risk when
it comes to your finances. If one area were to have a downturn or fail, there are other classes to pick
up the shortfall. This can create a buffer where one can counterbalance the other until the shortfalls
are regained.
Operate Internationally

Being able to operate internationally is easier than ever these days with the advent of the internet.
Being able to do business online has opened up so many doors to anyone wishing to gain global
exposure.

10. Build a budget—Figure out why there’s always more month left at the end of your
money. Develop a monthly budget and make it your guide to financial freedom. "Commit
your works to the Lord, and your plans will be established" (Proverbs 16:3).

Whatever you think your financial goals may be, you will not successfully achieve them
without first understanding God’s financial principles found in the Bible. When you do
understand, then develop lifestyle goals that reflect God’s principles and work out a written
plan to do so. It’s called a budget, and will lead you to financial freedom.

9. Give it away—Set your priorities straight by first making some contributions. Give to
God’s work; it’s His money anyway. Loosen up those purse strings; it will help loosen the
grip money might have on your heart. "Be rich in good works. . . be generous and ready to
share" (1 Timothy 6:18).

Don’t give in order to get. However, you’ll find that when you do give, God will provide you
with more to give. "Let us not love in word or with tongue, but in deed and truth" (1 John
3:18).

8. Reduce your use—don’t use your credit card so much. Develop discipline in your spending
habits. Take away any security you might be using in case of emergencies, like credit cards or
other avenues of borrowing. If needed, cut up a few credit cards. Commit to go no further in
debt and you will begin to reverse the process that produced your debt. "The rich rules over
the poor, and the borrower becomes the lender’s slave" (Proverbs 22:7). Remember that the
problem is not credit cards but the misuse of credit cards.

7. Get a grip—Spending (especially for indulgences) doesn’t lift depression. In fact, after the
initial rush it can make things worse. (Yes… like right after Christmas.) "He who loves
pleasure will become a poor man; he who loves wine and oil will not become rich" (Proverbs
21:17).

It’s not the cost of an item that determines whether it’s an indulgence. However, its utility
does. Do you really need it?

6. Look at your paycheck—Write the bottom-line number down, and then spend less than
that. Personal savings rates are lower now than during the Great Depression. You can’t spend
104 to 112 percent of your income and continue to get away with it (despite what the
government thinks). "I spoke to you in your prosperity; but you said, ‘I will not listen!’ This
has been your practice from your youth, that you have not obeyed My voice" (Jeremiah
22:21).Staying out of debt is no secret. Don’t spend more than you make, don’t borrow, and
you’ll be on the road to financial freedom.
5. Cook a meal—Discover the kitchen occasionally and reduce the number of restaurant
visits. Your spouse might enjoy meal preparation more at home if some help were provided
(is that you?). "Poverty and shame will come to him who neglects discipline, but he who
regards reproof will be honored" (Proverbs 13:18). Almost everyone enjoys eating out
occasionally. So make it part of your "entertainment" budget; but then stick to it. Save to eat
at a nice place for special events rather than squandering it on fast food non-events.

4. Get in the car—Take a local vacation this year. Cancun may be calling you, but there are
also interesting things to see and fun things to do within a day’s drive of where you live. "The
mind of man plans his way, but the Lord directs his steps" (Proverbs 16:9). People spend
hundreds of dollars they can’t afford to travel thousands of miles to see things they might not
remember next year. Has it occurred to you that people are doing just that as they come to
visit areas within a three-hour drive of where you live? Go local this year. Use the road to
Financial Freedom.

3. Don’t keep up with the Jones’s—They’re in debt, too (and you can be sure they won’t
make your payments for you)! "Every labor and every skill which is done is the result of
rivalry between a man and his neighbor. This too is vanity and striving after wind"
(Ecclesiastes 4:4).

Envy is the desire to achieve based on the observation of other people’s successes. Don’t set
your goals based on what others have. In the long run envy and covetousness will still leave
you empty, because you’ll never have enough.

2. Keep the "ultimate driving machine"—You know…the one that’s paid for. Most people
buy new cars because they don’t budget car-maintenance money for the car they own; when
it breaks down they can’t afford to repair it. You may say, "But it’s zero money down!" But
remember, those new car little- or no-money-down financial gimmicks require some budget-
destroying payments. "Which one of you, when he wants to build a tower, does not first sit
downand calculate the cost to see if he has enough to complete it?" (Luke 14:28). Average
monthly maintenance for most cars on the road (about seven years old) is about 5 percent of a
family’s budget. If you compare a monthly 5 percent of your budget for maintenance on an
older car to about 15 percent to buy a new car, it’s no contest. Poor gas mileage? Forget it! It
takes lots of gas to make up the cost of payments.

And the number one thing you can do to find Financial Freedom:

1. Pray each day before you pay—Emotional and spiritual balance will lead to Financial
Freedom. So ask God to guide you and give you strength to follow the first nine steps; they
are expanded and explained further at our Web site crown.org. "In everything give thanks; for
this is God’s will for you in Christ Jesus" (1 Thessalonians 5:18). Don’t be resentful for what
you don’t have. Instead be grateful for what God has provided. Financial Freedom will bring
contentment; and contentment grows out of an attitude of gratitude.

"This slightly tongue-in-cheek list is nonetheless a serious introduction to principles and

practices that can lead to greater balance in your life in the New Year," said Crown Financial
Ministries co-CEO Howard Dayton.

Dayton said: "With an already heavy debt load and some ominous clouds on the economic
horizon, many people will be looking for ways to get a handle on their finances. We not only
want to provide hope to those who feel over their heads financially, but to also provide
practical tools and resources to help them achieve financial freedom in their lives." "Many
people will search for freedom in their use of both time and money, so that they can set
priorities to ensure that they can do the important things in life," said Dayton. "Clearing up
our financial confusion is similarly empowering. This list and an array of our personal money
management tools, offer the means to find and maintain financial freedom, which means
having priorities for managing money that are reflective of emotional and spiritual health. We
realize that achieving financial freedom is a long-term process so that’s why we offer these
tools and resources to help the person or family through it.