Currently “kakeibo” — pronounced kah-keh-boh — has captured America’s attention as a money-saving method.
Customary practices ancient and new in Japan continually influence America’s cultural trends. “Hara hachi bun me” is a Confucian philosophy of eating until 80 percent full. “The Life-Changing Magic of Tidying Up: The Japanese Art of Decluttering and Organizing” by Marie Kondo has motivated many to clean their homes. And, “ikigai” focuses on the reason for being — touted by some as the secret to a happy life.
Currently “kakeibo” — pronounced kah-keh-boh — has captured America’s attention as a money-saving method.
In November, Penguin Publishing Group released “Kakeibo: The Japanese Art of Saving Money” by Fumiko Chiba. The book was published and released a year earlier in Europe and the United Kingdom, but burgeoning interest resulted in an American release in late 2018.
ABC News Jan. 9 shared kakeibo’s premise: “The general concept starts with mindfulness about your goals — why are you saving? How much do you want to save? Once the big-picture goals have been recorded, you go on to calculate your budget. It’s based on a concept financial planners dub the envelope system: You determine your monthly income and then either literally (with cash) or figuratively (in a written ledger) divide the income into envelopes.”
Businessinsider.com conveyed the importance of the basic, old-school approach in its report on kakeibo in April 2018. After determining money available, savings goals, spending patterns and areas for financial improvement, kakeibo requires individuals to consider the following:
1. Did you hit your savings target this month?
2. What ways did you find to save money?
3. What areas did you spend too much on?
4. What will you change next month?
Business Insider offered reasoning behind kakeibo’s benefits: ”… by eliminating all the bells and whistles and getting up close and personal with your daily money habits, you’ll be better positioned to make solid financial decisions.”