Learn the art of Kakeibo

The Japanese have had a long tradition of being mindful about their spending habits. They call it Kakeibo, which literally translates to ‘the art of budgeting manually’. The time couldn’t be more apt to adopt this philosophy.
While self-quarantining, we also have to be mindful of where our money is going, and how much of it is being debited from our banks. It’s quite easy to get carried away stocking essentials — since a lot of buying is being done online — and then suddenly realising that our account has dipped unusually low without us being aware of it.
The philosophy of Kakeibo encourages you to look to the future, focus on the present, and reflect on the past, with plenty of wisdom and motivation sprinkled along the way. This particular form of financial management makes it a lot easier to manage your daily expenses than your average Excel doc.

At the core of Kakeibo are four vital questions that you must ask yourself:
1) How much money is available?
2) How much are you spending?
3) How much do you have to save?
4) How can you improve your budgeting process?

The fourth point is the reason why Kakeibo is most essential to us now. You have to be aware — on a daily basis — about how much money is going out of your kitty; and since that’s not completely in your control these days (with lockdown), going through your daily expenses with a pen and paper is only going to help you plan for the next few months.

One of the best outcomes of adopting Kakeibo is that it makes us introspect and reflect on our spending habits and eventually, reach both short and long-term goals.

Emotional security
Business coach Jasmin Waldmann adds another huge benefit of manual accounting: emotional security. She says, “If you are in control of your money and financial life, you get a lot of peace. Especially in our times, when the world is uncertain.” A huge part of wellness, after all, is about being money ‘wise’ and sensible.

Why do you need to write down your expenses
l Writing in longhand slows down our thought process
and increases present-moment awareness.
l The sequential hand movements involved in handwriting, integrates and activates parts of the brain that include memory, language, and cognitive power.
l Writing your goals by hand increases motivation and accountability.

Like all other fears, financial anxiety has risen manifold in the last month. Manual journaling is a simple way for all of us to be extra mindful of our spending habits so that we can reward ourselves with bettersavings
— DrSaloni Singh, psychologist

Kakeibo is credited to the first woman journalist of Japan, Hani Motoko, who published one of the first women’s magazines named Fujin No Tomo (women’s friend), in 1908


Stay updated with the latest news on Times of India. Spread love this holiday season with these New Year wishes, messages, and quotes.