by Katana Abbott, CFP®, CSA®

I just returned from a fabulous retreat in Baltimore with one of my mentors, Barbara Stanny. The retreat was focused on Sacred Success – for women who have reached affluence and are looking to make a difference in the world. When I called the retreat center to ask how they recommended getting from the airport to the retreat center, they gave me two options.:

  • I could take a cab for $120 round trip.
  • I could take light rail for $3.20 round trip.

Now, I am from the Midwest, and am not used to taking public transportation. Plus, I asked myself “Why am I even considering taking the public transportation after investing thousands of dollars on this retreat?” Just do the cab, right? I can afford it, I deserve it, right? What do you think I did?

I decided to take the “light rail” for two reasons:

  • I looked at is as an adventure and it was. In fact, I ended up having an amazing conversation with a man from Jamaica and a retiree who is a world traveler. We talked about this very issue. The retiree told me that in Italy he noticed that the gondola was $24 for the tourist. All he had to do was go “down one level -where the locals went” and it was $5. He shared several other interesting experiences by following this principle.
  • I thought it would be fun to decide what to do with this extra $116.80 since I am teaching women how to be smart about money.

So what do you suggest that I do with this “extra money”?

  • Spend it on a massage or facial?
  • Use it to pay for my miscellaneous expenses from the trip (tips, few glasses of wine, etc)?
  • Add it to my savings account?

Well I am actually depositing this $116.80 to my business “savings” account today. I am doing this to honor these dollars, since its money that I would not have had if I hadn’t made this decision. By following the 3 secrets of wealth below, my husband and I are now financially independent.

  • In my April 8, 2012 blog post, I interviewed my manicurist, Kahi. He is a Vietnamese refugee and entrepreneur who has a unique way of saving money. He has created financial freedom and is now able to give back! Be sure to check it out.

So here are 3 simple tips for creating wealth:

Respect and Appreciate Money:

By appreciating your money and treating it with respect, you will not only be more aware of what you have, where you are spending it, but you will also be attracting more wealth to you. Remember, we get what we focus on most. Ask yourself, “What do you do when you find a coin on the ground?” I pick it up as good luck and put that money in a special place. I express gratitude everyday for the wealth that our family enjoys. Gratitude is how you begin this process too!

Track your Income and Expenses Every Day:

  • Keep your receipts in a special place in your wallet and at the end of each day, write on that receipt what it was for, and then put it into your bookkeeping file.
  • Also, record every penny you make or find on at tracking sheet, and then express gratitude knowing that there is more on its way. My husband watches our credit card purchases daily and tracks Quicken weekly.

Pay Yourself First:

Set up a savings plan even if you have to start with a small amount. Make sure you are setting aside money for Cash Reserves (Emergency) and for Long Term Financial Freedom (Your Retirement Savings Accounts). This is a way of honoring yourself and taking the first step to financial freedom.

I will leave you with this one thought: Money is a reflection of our own value. Your Self Worth Equals Your Net Worth. Add to your Self Worth and Your Net Worth Account every day by following these three simple secrets and watch your life begin to transform. Next week, we will talk about “How to Invest”!
By the way, I’m having a $100 OFF CLOSE-OUT sale of my popular program, Get Clarity Now: A 5 Step Roadmap to Your Purpose and Passion with Prosperity” Just enter the coupon code: clarity. This  sale ends Monday night, so learn more and get your copy before it’s too late!

 

 

© 2012 Katana Abbott Consulting , PLLC

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“Certified Financial Planner and Prosperity Coaching Katana Abbott teaches soul centered entrepreneurial women how to awaken their brilliance and create wealth while making a difference in the world. Get her FREE Smart Women’s Prosperity System” at www.Katana Abbott.com