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It’s easy to feel disconnected from your finances when you spend money with the swipe of a card or the tap of a button on your smartphone.
But when you’re mindful of where your money goes, you can cut down on unnecessary spending and put more cash toward your savings goals.
Kakeibo, a long-standing Japanese budgeting method, attempts to help people become more cognizant of their spending habits and improve the way they manage money.
Here’s how it works.
What Is Kakeibo?
Kakeibo — pronounced “kah-keh-boh” and sometimes spelled “kakebo” — is a money management style that has been around since the early 1900s. The word translates to “household financial ledger.” Hani Motoko, who is known to be Japan’s first female journalist, helped bring kakeibo to the public eye, making it popular among housewives who manage their family’s finances.
Though this budgeting method has been around for over a century, it has seen a resurgence in popularity — particularly in the Western world — as more people embrace minimalism, mindfulness and KonMari organization.
Budgeters looking to straighten out their financial lives the way Marie Kondo taught us to tidy up our living spaces need to look no further than kakeibo.
How to Manage Your Money With Kakeibo
Kakeibo stands apart from other budgeting methods by combining reflection and journaling with common money management practices like categorizing expenses and tracking spending.
One thing that’s important to mention about kakeibo is that it’s intended to be done on pen and paper — hence the “household ledger” translation. Physically writing down your spending gives you a more tangible sense of where your money is going rather than using an app that records your expenses for you.
While several kakeibo budgeting journals have been published in the last few years — like Fumiko Chiba’s “Kakeibo: The Japanese Art of Saving Money” — you don’t need to buy a guided…
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