Dear MEL Topic Readers,
Kakeibo: The Japanese art of saving money
Do you know if you are spending your money wisely? Not so many people do not keep track of how much they spend on what each month. Tracking expenditures is a nuisance and annoyance partly because it reminds you how much you wasted. But it helps you get your spending under control just like companies and organizations budget expenses and manage finances.
“Kakeibo” is a Japanese budgeting method that helps households manage their finances and save money. It was developed by a female magazine journalist in 1904. It focuses on mindful spending and saving, an attitude towards budgeting by showing the record keeper how to spend and save well by tracking income, fixed expenditures, savings, and living expenses. Indeed, if you sort and record all the cash inflows and outflows, you’ll become more conscious of how you spend your money especially when you write them down on paper. When inflation persists, you definitely want to get your finances under control not only to make ends meet but also to save for the future or enjoy your life today.
Watch the video to learn how a simple booking technique could help manage your finances.
https://www.bbc.com/reel/video/p0g6q7wd/kakeibo-the-japanese-art-of-saving-money
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