Here’s another hot trend from Japan in the spirit of Marie Kondo’s “de-cluttering movement…”
It’s not about “sparking joy” when considering whether to keep or toss the stuff you’ve accumulated over the years.
Instead, it’s focused on your finances and getting them under control.
The approach is called “Kakeibo,” and it roughly translates into “household financial ledger.” It boils down to getting a lot more intentional about spending, along with making sure everything is written down and tracked consistently.
The system centers on using a ledger to make sure you’re always aware of how you’re using your money, and asking four simple questions:
- How much money is available?
- How much do you want to save?
- How much are you spending?
- How can you improve?
In the book, “Kakeibo: The Japanese Art of Saving Money,” author Fumiko Chiba says the four questions function like the different parts of a propeller, one flowing into the other.
But the key to making this work boils down to discipline – both in writing down your goals AND in tracking your progress towards them daily. It may seem simple, but paying attention (for the first time) to how you’re managing money and making it a focus to get better can pay huge dividends.
Having this kind of focus can help anyone’s financial plan “stay the course” to the goals you’ve established. We can help. Call today at 513-563-PLAN (7526) or book online to schedule your portfolio analysis today.
Dan Cuprill, CFP®