Are you trying to save money ??? Try ‘Kakeibo’: – The Japanese art of saving money

Everyone enjoy their work and love to earn money. And eventually the money will be spend as per requirement or hobbies. Every earning person think of saving their fund. By going through the same, this make me to learn something new and different.

This art is something different I had ever experienced, and it encouraged me to slow down and make some lifestyle improvements — specifically, in managing my financial funds. So when I heard about a Japanese budgeting method called kakeibo, I was intrigued and decided to give it a try. 

Recently I get to know about the Japanese financial trick to save money. And after learning about it and trying it had actually changed my mindset to how to save money.

Kakeibo, pronounced “kah-keh-boh,” translates as “household financial ledger.” Invented in 1904 by a woman named Hani Motoko (notable for being Japan’s first female journalist), kakeibo is a simple, no-frills approach to managing your finances.

Some people don’t struggle with overspending and can live a satisfying life with just essentials. I am one of those people. But there always change in mood or some need that you just go in overspending. Most factor contribute in this as good mood,shopping mood,fun mood,travel,food,luxury,house etc etc. 

As many people would agree, changing bad financial habits isn’t easy to do — partly because our spending habits are deeply cemented into our daily routine, and the act of spending also includes an emotional aspect that is difficult to detach from.

Luckily, for the past many years, kakeibo has been effective in helping people make smarter financial decisions.

No technology—just a notebook and pen

The hidden idea in kakeibo is to help you understand your relationship with money by keep a ledger of everything that is crediting and debiting. 

What makes it successful is that it does not need any app,software or digital innovation to keep a track. Just writing. And the importance of sitting and physically writing things down is a great way to observe your spending habits. And I also do so. Its just maintain a journal of your debit and credit monthly basis.

Research has proven again and again the numerous benefits of writing by hand: It can help you make positive changes by encouraging you to be more present and aware, while also acknowledging the triggers behind your bad habits.

JUST ASK THIS TO YOURSELF – AND IT WILL INSTANTLY CHANGE YOUR THOUGHT

According to the kakeibo, what you will do is that you will ask yourself the following questions before spending money on any non-essential items — or the things you buy by interest or in sale, but might not necessarily need:

• Can I live without this item?
• Based on my financial funds and current situation, can I afford it?
• Will I actually use it? 
• Do I have the space for it? 
• How did I come to know about it? (Did I see it in a magazine? Did I come across it after roaming in shopping mall out of boredom?) 
• What is my emotional state in general today? (Calm? Stressed? Celebratory? Feeling bad about myself?) 
• How do I feel about buying it? (Happy? Excited? Indifferent? And how long will this feeling last?) 

Be clear about “needs” and “wants"

This force me to think about my purchases and what motivated me to buy them.In other words, I was finally able to conquer my thoughts of being completely honest about my “needs” and “wants.” As a result, I got better at making faster, smarter and more logical decisions about whether to spend money on a particular item.

NOT JUST ALWAYS THINK AND SPEND (chocolate is not so expensive :P) – Its just about tracking your bad habit

In order to see significant results in your savings, it’s important to stay committed in asking the right questions before making any non-essential purchases.

Here are some simple kakeibo-themed strategies to ensure that you spend more mindfully:

1. Leave the item for 24 hours. This makes you realize that do you genuinely want or need it. If you’re still thinking about the item the next day and can afford it, then make the purchase. You’ll feel a greater sense of satisfaction about your decision. 

2. Don’t let “blowout sales” tempt you. I used to be a sucker for big sales. But that often meant spending money on items I knew I wouldn’t use. You have to ask yourself just a simple question that would I buy it if was it in its full price not in current sale price ?

3. Check your bank balance regularly. Checking your balance will help you feel more in control of your finances because it brings into focus how much money you have to spend. Now, the first thing I do every morning is check my balance.

4. Spend in cash. Physically handing over cash rather than just mindlessly swiping your card makes you more conscious of what you’re spending, and you will find it easier to budget. Try taking out a set amount of cash to use for the week and only spending what you have.

5. Put reminders in your wallet. My friend came up with the brilliant idea of attaching a sticker to her credit card that bluntly says, “Do you REALLY need this?!” Anything that prompts you to take a step back before making a purchase will help you make smarter decisions.

6. Change the environments that cause you to spend. If you notice that you often spend money after clicking on a marketing email or seeing pictures of an Instagram influencer wearing a particular brand, for example, then unsubscribe or unfollow. Or, if you shop when you are put of mood or bored, try using that time to do another activity instead..

TRY AND SAVE YOUR FUNDS

THANKS FOR READING!

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