Window Shopping is Expensive, Too

Window shopping, that is frequenting malls, stores, or commercial websites without purchasing anything,  can be as expensive as shopping with money. How can that be?    Window shopping focuses your time and attention on spending money instead of making it.   And, chances are, the next time you get your hands on extra money or have the opportunity to request a gift, you will use that opportunity to buy whatever you were admiring on your last window shopping spree.
Instead, try spending time in the company of your friends or family, meeting new people (e.g. through networking events, ,thinking about making money , or improving your skills. For example, try visiting the library to check out the latest book on some topic of interest from which you could make a few dollars. Be creative. Just remember that the mall is not a vacation destination.



One challenge you may face as you’re beginning to build wealth is responding to requests for money from friends and family. They will see that you are able to afford a home and/or a car and assume that you have money to spare. Be very careful here. Set aside a friends-and-family fund at the beginning of the year. Once the fund is gone, so is your ability to share money.Also, consider giving the money away instead of loaning it. Doing so will preserve your important relationships. Further, chances are that anyone who borrows money from you will have trouble paying it back. Just think, if their loved one needed to pay for an operation on the same day that they were supposed to pay you back, who would get the money? The doctor or you?

Another thing to consider is that even if you don’t have debt and you have saved money to cover at a year or more of expenses, you do not have money to spare. That money is to be used as a seed to help grow your wealth. It should be used to purchase income producing assets like real estate, stocks, bonds, and businesses.

Once you start to be disciplined about your friends-and-family fund, you may encounter resistance and even anger from those who have been used to treating you like a bank. Be strong. Remember why you love yourself. Anyone who harasses, insults or tries to guilt you into giving them money isn’t someone who you need in your inner circle. No matter who they are: sister, brother, friend or mother, they are not acting in support of you and your objectives. If they really love you, they’ll accept a hug instead of a loan when all your money is gone.

Top Five Tips to Build Your Net Worth

1. Spend time each week thinking about and executing plans to make money

It is easy to spend more time thinking about spending money than we do thinking about making money. Our society is structured to support consumption. We think about material things we want, worry about bills we have, go window shopping, and spend time watching television filled with advertisements.

One of the tricks to building wealth is setting aside time to think positively about making money. This focus will help you discover how you can use your talents /abilities to help someone this week. For example, you might choose to place an ad on a site like or advertising your drawing skills. Those skills could be helpful to small business people creating advertising, website designers, or children’s book writers. The ability to braid hair could be of value to a mothers’ group. Your ability to clean could help you launch a mini-cleaning business. Get the idea?

2. Work with others to economize and build wealth.

Imagine how much money you could save if you purchased staples like sugar, flour, and paper products with a group of your neighbors. You could buy in bulk and save at least 30% on your grocery bills.

What if you chose to pool your resources to invest with a group of people? If you live in a building , for example, 5 of your neighbors could pool their monies and borrowing power to buy a multifamily home together, saving hundreds to thousands of dollars monthly and building equity at the same time.

On a bigger scale, if you can get a mortgage loan for 200k, connecting with 10 others who can do the same gives you 2 million dollars worth of buying power to purchase a cash flowing property or business.

3. Make money from all of your skills (legally, of course)

Make a list of all of your skills and abilities, starting from your physical abilities (e.g. your sight, ability to walk). Next to each ability list the type of people who could benefit from them. Then make a list of online and offline places where you can find and advertise those abilities. Then advertise and provide your service.

4. Know the events or feelings that trigger your desire to spend money

Understanding the feelings that cause you to buy unnecessary clothing items, make bad “loans”, or purchase unnecessary gadgets will help you to avoid the triggering situations. No one is suggesting that you stop spending completely. However, being able to stop and ask yourself: Is there another alternative to spending this money?, will go a long way in curbing your spending. Understand that both marketers and loan requesting friend/family member know your triggers well and will use them to make you spend. A marketer might promise that their product will make you more desirable to a potential mate. A loan requesting friend or family member may play on your desire to see them well or your guilt for having more than your peers.

5.  Know the top 5 things you love about yourself.

Building wealth isn’t always a smooth and easy process. You will encounter difficulties and failures. The more successful you become, the more public your challenges will be, adding to the stress. Knowing and reminding yourself about the top 5 non-wealth related things you love about yourself will help you through difficult times. It will also protect you against efforts by organizations and people around you to make you spend money unnecessarily. Somehow, hearing a version of “you’ve changed. You used to be cool. I can’t believe you’re denying my request” loses its power when you can say to yourself: ‘I’m still a good person, I’m just choosing to build my future instead of spend money in other ways’


1. Dedica tiempo cada semana a pensar y poner en marcha planes para ganar dinero

Es fácil dedicar más tiempo a pensar en gastar dinero que a pensar en hacer dinero. Nuestra sociedad está estructurada para fomentar el consumo. Pensamos en las cosas materiales que queremos, nos preocupamos sobre las facturas que debemos, nos vamos a ver escaparates, y pasamos tiempo viendo la television repleta de anuncios.

Uno de los trucos para crear patrimonio es buscar tiempo para pensar positivamente en cómo ganar dinero. Este enfoque te ayudará a descubrir cómo puedes usar tu talento y tus habilidades para ayudar a alguien esta semana. Por ejemplo, puedes optar por colocar un anuncio en una página web como guru o craig’s list anunciando tu capacidad como dibujante. Esta destreza puede ser de ayuda para pequeños empresarios en campos como el de la publicidad, diseño de páginas web, o escritores de cuentos infantiles. La capacidad de hacer trenzas puede ser útil para un grupo de madres. Tu destreza para limpiar te puede ayudar a lanzar un pequeño negocio de limpieza. ¿Ves la idea?

2. Trabaja con otros para economizar y crear patrimonio

Imagínate cuánto dinero puedes ahorrar si comprar bienes básicos como azúcar, harina y productos de papel con un grupo de vecinos. Puedes comprar a granel y ahorrar al menos el 30% en facturas de supermercado.

¿Qué pasa si decides juntar tus recursos para invertir con un grupo de personas? Por ejemplo, si vives en un edificio, cinco de los vecinos pueden juntar su dinero y su capacidad de endeudamiento para comprar conjuntamente una vivienda multifamiliar, ahorrando cientos de miles de dólares mensualmente y al mismo tiempo creando capital.

A mayor escala, si puedes obtener un préstamo hipotecario por $200,000, conectar con otras 10 personas que pueden hacer lo mismo te ofrece un poder de compra de 2 millones de dólares para comprar una propiedad o negocio que genere efectivo.

3. Gana dinero con todas tus habilidades (legalmente, por supuesto)

Haz una lista de todas tus destrezas y habilidades, comenzando por tus habilidades físicas (por ejemplo, tu vista, tu capacidad de andar). Al lado de cada habilidad haz una lista de la gente que puede beneficiarse de ellas. Posteriormente, haz una lista de lugares, incluyendo en Internet, donde puedas encontrar y anunciar estas habilidades. Anuncia y ofrece tu servicio.

4.  Conoce los eventos y sentimientos que impulsan tu deseo de gastar dinero

El conocer los sentimientos que te llevan a comprar ropa innecesaria, a hacer ‘préstamos’ irrecuperables, o comprar equipos innecesarios te ayudará a evitar esos impulsos. Nadie está sugiriendo que dejen de gastar completamente. Sin embargo, el ser capaz de detenerse y decirse a sí mismo: ¿Hay otra alternativa a gastar el dinero? ayudará mucho a reducir los gastos. Tienes que estar consciente de que los especialistas en mercadeo y los miembros de tu familia o amigos que te piden un préstamo conocen bien esos impulsos y los usaran para hacerte gastar dinero. Un especialista en mercadeo te puede prometer que su producto te hará más deseable para un posible compañero sentimental. Un amigo o familiar que te pide un préstamo puede jugar con tu deseo de verles bien o tu culpa por tener más que ellos.

5. Conoce las 5 cosas principales que te gustan de tí mismo

Crear riqueza no es siempre un proceso fácil y sin problemas. Encontrarás dificultades y fracasos. Cuanto más exitoso te hagas, más públicos se harán tus desafíos, añadiéndose al estrés. Conocer y recordarte a tí mismo las 5 cosas no relacionadas con la riqueza que te gustan de tí mismo te ayudarán a sobrellevar las épocas difíciles. También te protegerá de los esfuerzos de organizaciones y gente alrededor de tí que te hacen gastar dinero innecesariamente. De alguna manera, escuchar una version de “tú has cambiado. Tú solías ser una persona estupenda. No puedo creer que rechazas lo que te pido” pierde su poder cuando te puedes decír a tí mismo: ‘Todavía soy una buena persona, tan solo estoy escogiendo construir mi futuro en lugar de gastar el dinero de otras formas’.

Thanks to  Jose Alzorriz for the translation.