I attended a fabulous retreat in Baltimore with one of my mentors, Barbara Stanny, a few years ago. The retreat on Sacred Success was for women who had reached affluence and were looking to make a difference in the world. When I called the retreat center to ask how to get from the airport to the retreat center, they gave me two options: take a cab for $120 round trip or use the light rail for $3.20 round trip.

Being from the Midwest where public transportation is sparse, I never use it. Mulling over my options, I began to think I would just take a cab. After all, I had invested thousands of dollars on this retreat, and besides, I could afford it. Right?

Which do you think I chose?

I decided to take the light rail for two reasons:

  1. I looked at is as an adventure. And in fact, it was! 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 to where the locals went,” and it cost only $5. He shared several other interesting experiences by following this principle.
  2. Since I teach women how to be smart about money, I thought it would be fun to decide what to do with this extra $116.80 I had saved.

What do you think I did with this extra money?

  • Did I spend it on a massage or facial?
  • Did I use it to pay for miscellaneous expenses from the trip?
  • Did I splurge on a new pair of shoes?

No, I deposited the money I had saved in my business savings account when I returned home. I did this to honor these dollars since it was money that I would not have had if I hadn’t made this decision.

I recognize the importance of honoring money. It’s part of my four-step plan that helps create wealth and allows you to become financially independent. Here is my simple four-step plan for creating wealth:

  1. Respect and appreciate money: By appreciating your money and treating it with respect, you will not only be more aware of what you have and where you are spending it, but you will also be attracting more wealth to you. Remember, we get what we focus on most. Also, express gratitude everyday for the wealth that you and your family enjoy. Gratitude is how you begin this process!
  2. Track your 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.
  3. Record your income every day: Record every penny you make or find on a tracking sheet and then express gratitude in knowing that there is more on its way.
  4. Pay Yourself First: Even if you must start with a small amount, set up a savings plan. 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 toward financial freedom.

I will leave you with this one thought: Money is often a reflection of our own value. My mentor once said, “Your self-worth equals your net worth.” Add to your self-worth and your net worth accounts every day by following these four simple secrets and watch your life begin to transform.

Finally, if you haven’t checked out our FREE course featuring my signature six-step system called, Unlock Your Financial Power: They Key To Health, Wealth & Happiness, be sure to do that now by clicking here for immediate access!


Katana Abbott, CFP® practitioner, is a Life and Legacy Coach™, host of the Smart Women Talk Radio™, founder of the Smart Women Companies with over 1 million subscribers globally, inspirational speaker and author of several books.

She began her financial planning career in 1987 and became a Certified Financial Planner™ practitioner. In 2003, Katana created Smart Women’s Coaching® to offer financial coaching and educational workshops for women in transition who are dealing with caregiving, death of a loved one, divorce, retirement or looking to create or grow a business.  She founded Smart Women’s Empowerment in 2008 to bring free financial empowerment resources and programs to women around the world through her team of Contributing Experts. www.katanaabbott.com