A Simple Japanese Money Trick to Become 35% Richer

2

Published -

We all know how money has a magical ability to disappear overnight, right after payday.

But it looks like the Japanese know the secret to make it stay in your wallet longer, and even multiply there. Today, their method of budgeting is growing popular all over the world.

A hundred years ago, Japan was a traditional agricultural country – nothing like how we know it now. How did it manage to become the most technology-savvy country, with a developed economy and one of the highest living standards? One of the reasons is the high financial competence of the Japanese themselves. They’re experts in personal finance. They use Kakeibo. So what is it?

What are the benefits of using the kakeibo method for personal finance management?

A Simple Japanese Money Trick to Become 35% Richer

Japan is known for its innovative insights, unique cultural practices and impressive technological advancements. In the field of personal finance, the Japanese have a few tricks up their sleeves as well. One such trick, which is said to increase savings by as much as 35%, is known as kakeibo.

What is Kakeibo?

Derived from the Japanese words “kake” meaning “to account for” and “bo” meaning “book”, kakeibo is a traditional budgeting and saving method that came into existence more than a century ago. It is essentially a budgeting journal or a workbook that helps individuals keep track of their personal finances by writing down their expenses, savings and spending goals regularly.

Unlike modern budgeting applications, which can be too complex and time-consuming for some people, the kakeibo method is simple and straightforward. It involves writing down all expenses in a notebook or planner, which can make it easier to visualize your spending habits and adjust accordingly.

How to Use Kakeibo

The kakeibo method requires four simple steps:

1. Set a monthly savings goal: Before you start tracking your expenses, set a savings goal for the month. This will help you stay focused on your financial goals while planning your expenses.

2. Record all expenses: Write down all expenses in a dedicated notebook or planner. Categorize expenses as fixed (rent, utilities, etc.), intermittent (groceries, car maintenance, etc.) or non-essential (eating out, shopping, etc.). Make sure to record every expense, no matter how small.

3. Reflect on your spending: At the end of the month, review your spending habits and identify areas where you can cut back. Reflect on your goals and see how much progress you’ve made towards achieving them.

4. Plan for the next month: Use the insights gained from the previous month to make a budget for the next month. Adjust your expenses and savings goals accordingly to stay on track.

Benefits of Kakeibo

The kakeibo method has several benefits that make it an effective budgeting tool. Firstly, its simplicity and visual approach make it easy to understand and follow through. Secondly, it promotes mindful spending by encouraging individuals to think about their financial goals and priorities. Thirdly, it can result in significant savings over time, enabling individuals to achieve their financial goals faster.

Conclusion

Kakeibo may be a simple, traditional money trick, but it is still effective in the modern age. It helps individuals gain control over their finances, develop mindful spending habits and achieve their financial goals faster. With its four simple steps, anyone can start using this method today to become 35% richer over time.

6 Total Score

User Rating: 3 (3 votes)
Read More
Filter by
Post Page
Partnership Twitter Business Insghts Sole Proprietorship Hybrid Business Model Markets
Sort by

Why I Don’t Have A Business Partner Anymore

How do you find a good business partner? What should you consider when making a formal business

1

How to Choose the Right Business Partner

How to Choose the Right Business Partner by Patrick Bet-David. If you’re an entrepreneur or business

1

How much I pay in taxes on a $163,800 per month income

The subject of TAXES is one of those topics that’s SO important for you to understand, because this is the stuff t

1

This Is How Much Money A Podcast With 50,000 Downloads Makes

Today we are exploring the world of podcasting. Podcast monetization is a little different from YouTube,

1

3 POWERFUL Ways To Profit From Your BLOG… Starting TODAY!

What’s Most Important Tool Should Every Serious Marketer Have? BLOGS! …(A.K.A. W

1

Teen Millionaires | The kids running successful businesses who say you can too | Sunday Night

The million-dollar kids – Alex Cullen meets the youngsters with big dreams and even bigger success

1

5 Reasons You Should Use A Blog

It is becoming more common but the big question I get when talking to people is “Why use a blog?”.

1

3 Ways to REALLY Make Money in The Stock Market (Insider Tips)*

What are the ways to actually make money in the stock market? 0:30 #1 How I Make Money in the Stock

1

Introduction To Online Business 1-2-3

There are millions of people making a full-time income on the internet or working part-time hours from the comfort

1

Sneaky Ways Fast Food Restaurants Get You To Spend Money

Fast food is supposed to be cheap and convenient, but do you ever find yourself spending more on fast food than you

1

AI is coming for your jobs…so what?

There is a greater fear than ever that Artificial Intelligence could lead to mass unemployment worldwide.

1

What we learned from building a medical technology startup | Fouad Al-Noor | TEDxTUBerlin

Digitalization leads our world in a new are of technology. Technology in Health-care is extremely

1

10 Mastermind Hackers That Outplayed Everyone (even NASA)

From NASA to your Facebook and Gmail Account, hackers can hack into every system that requires the

1

10 Coolest New Methods of Transportation

New Methods of Transportation Top 10 new vehicles

1

Futuristic Technology You Can Buy Today

We dream about what technology the future holds. But many devices exist today that you probably

1

This researcher created an algorithm that removes the water from underwater images

Why do all the pictures you take underwater look blandly blue-green? The answer has to do with how light

1

MIT’s Breakthrough Energy Technologies

MIT’s Breakthrough MIT’s Breakthrough

1

10 Most Insane Secret Military Technologies

10 Most Insane Secret Military Technologies Warfare has always lead to the biggest leaps forward in

1

The ONE THING That Holds New Programmers Back

New Programmers  One skill to work on that I

1

Advanced Search Options
InfoSearched | Business Research & Information
Logo