Break Your Spending Into Categories and Getting Financially Naked
Once you have tracked your expenditures for a month, you can break spending into categories. The key to kakeibo is tracking it all with a basic pen and paper, rather than using any kind of app. Why? Research has repeatedly shown that physically writing things down changes the way we behave. It also creates a little more friction to our spending.
Once you have an idea of your spending, you can divide your kakeibo, or budget, into different categories of spending: Essential and non-essential.
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Break Down Your Life Into Categories
Life is more manageable when things are broken down. On a daily basis, it is helpful to break life into four categories:
- Health. Without proper health, other categories are harder to maintain. Prepare healthy meals and make time to exercise.
- Wealth
Measure your expenses
Take a hard look at how much you are spending day to day. Every time you spend money, write it down as it happens in a little notebook or log it into an app.
Alternatively, use the envelope method. Make an envelope for each of your non-fixed expenses, like groceries, clo...
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