WHAT IS ECONOMIC INCLUSION? 🤔
Economic inclusion is a term used to describe a variety of public and private efforts aimed at bringing underserved consumers into the financial mainstream
This is a macroeconomic term used to understand how to bring people who are underserved and at the bottom of the food chain (people making $0 – $35,000 yearly) in the game of wealth creation and asset protection. This is term and system that people never learn about. So I want to take some time in this article to explain how you can be the poorest person in this country and still be able to build yourself up gradually. most people never truly learn how to use money because we’ve grown up in a environment with other people who poorly manage their money and don’t take the time to truly learn how to grow and invest our money.
There are few myths about money I want to get clear. Like “work hard to make money” “you must be smart to make money” “you must get a job that pays you a lot of money” “you must be born rich” “you have to invest in stocks” “just be patient and save your money”. These are some of the things we think you need to make money and create wealth, and some of these things are true but you must understand that not just one thing can fix your problems.
So back to economic inclusion, how do you create wealth first of all you must understand it is going to take time and some financial Literacy understanding, you must know how to speak the language of money. I want you to realize that you don’t have to do everything on your own because most people always think they have to go work their asses off to create money and they don’t understand there are systems and opportunities in this world that can make your trip to amounting money much easier. In this country we have access to so much opportunities that most people go their whole life blind to and never make the moves that can take them to the next level. We must learn how to bring value to other people in this world by selling a service or a product and we must also use the financial institutions and governmental system to our advantage. Most people don’t know that banks and credit is there to help you build your wealth and money but we never learn the right way to use our money instead we consistently are consumers and consume on liability’s that’s drain us of our wealth.
IF FOUND THIS GREAT ARTICLE TALKING ON GOOGLE ABOUT THE SOME TOOLS LIKE (THE BANK) TO HELP YOU CREATE WEALTH FOR YOURSELF AND YOUR FAMILY. ⬇️
Families who lack access to the financial mainstream may opt to rely on alternative financial services (AFS) providers, such as non-bank check cashers, payday lenders or pawn shops—many of which may lack consumer protections and can be costly for those struggling to make ends meet.
Access to an account at a federally-insured institution provides households with the opportunity to conduct basic financial transactions, save for emergency and long-term security needs, build credit history, and access credit on fair and affordable terms.
Participation in the banking system also protects households from theft and reduces their vulnerability to discriminatory or predatory lending practices. In addition, households that use non-bank financial services providers do not receive the full range of consumer protections available through the banking system. Despite these benefits, many people, particularly low-to-moderate income households, do not access mainstream financial products, such as bank accounts and low-cost loans. Other households have access to a bank account, but nevertheless rely on non-bank financial services providers.
