{"id":15087,"date":"2022-05-16T09:29:27","date_gmt":"2022-05-16T14:29:27","guid":{"rendered":"https:\/\/theamericangenius.com\/housing\/?p=15087"},"modified":"2022-05-16T22:24:01","modified_gmt":"2022-05-17T03:24:01","slug":"kakeibo-the-japanese-art-of-spending-wisely","status":"publish","type":"post","link":"https:\/\/theamericangenius.com\/housing\/editorials\/kakeibo-the-japanese-art-of-spending-wisely\/","title":{"rendered":"Kakeibo: What we can learn from the Japanese art of spending wisely"},"content":{"rendered":"

Raise your hand if you have cash in your wallet.<\/p>\n

What is a wallet you ask?<\/p>\n

I jest. I know you know what a wallet is. (I hope.) But, sometimes I wonder if cash will go the way of the rotary phone. Seems most folks I know use debit cards, Venmo or their phones to pay for things nowadays.<\/p>\n

Ever notice when you go to the store and have a debit or (worse) a credit card at your disposal, your plan to spend $20 ends up more like $50-$100. For example, anyone who shops at Target knows that when they ask you at the checkout, \u201cDid you find everything you needed,\u201d the answer is \u201cugh\u2026 Yes, and then some.\u201d<\/p>\n

Living in a plastic economy has made us less cognizant of how we spend money. But, leave it to the Japanese to have a system for putting the thought into buying. It\u2019s called Kakeibo (pronounced kah-ke-boh) and it translates to \u201chousehold finance ledger\u201d and it\u2019s something most Japanese folks learn to use from the time they are wee children.<\/p>\n

The system began in 1904 and was \u201cinvented\u201d by a woman name Hana Motoko (also known as Japan\u2019s first female journalist), according to an article<\/a> on MSNBC. The system is a no-frills way of approaching finances, whether personal or business.<\/p>\n

Now, some folks are great at keeping a budget and knowing where the money is going. My mom, for example was the best bookkeeper. Unfortunately, her skills with money didn\u2019t pass down to me. So, I actually purchased a Kakeibo book<\/a> to try and get my finances in better shape.<\/p>\n

You don\u2019t need some special book (save your money), though you can find lots of resources online, including these downloadable forms<\/a>, but in actuality all you need is a notebook (preferably one to take with you) and a pen. No Technology Required.<\/p>\n

If you have been spending money and not knowing where it is going, then it\u2019s going to take some work to change your habits around money.<\/p>\n

In her article on MSNBC, Sarah Harvey<\/a> says what makes Kakeibo different than using an Excel spreadsheet or budget software is the act of physically writing purchases down \u2013 it becomes a meditative way of processing spending habits. \u201cOur 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,\u201d Harvey says.<\/p>\n

As a business owner or entrepreneur, it is also easy to get sucked into believing you have to have new technology, systems and bells and whistles that maybe you don\u2019t need \u2013 just yet. Spending goals for a business, just like a personal budget, are important if you plan to stay on track and not lose sight of where your money is going. Lord knows the money flies out the door when starting any new project.<\/p>\n

Based on the Kakeibo system, there are some key questions to ask before buying anything that is nonessential (whether for your home or business):<\/p>\n