Kakeibo is an old Japanese form of budgeting that has become en vogue thanks to an increased focus on incorporating mindfulness into all aspects of our lives. It offers a simple, no-nonsense way to get your spending under control.

The system was developed in 1904 by a female journa...

The following questions are designed to invite self-reflection and help you decide if an expense is “worth it.”

• Do I actually need this? Will it be useful, and does it make me excited?
• Do I have the space for this? Will it have a place in my life or home?
• Based on my cu...

The first step in kakeibo, much like any mindfulness work, is to become aware of what's actually happening to your finances. This means keeping detailed track of your spending for a set period. Most financial experts, like Liu, recommend tracking expenses and income for at least a month before se...

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?

At the heart of kakeibo is journaling or documenting your income and spending. Since the process predates smartphones and computers, it relies on old-fashioned pen and paper technology.

Life goals and financial goals are related, and once we start to connect financial life with overall life...

Once you have an idea of where your money goes over a month, you can set your goals. What do you want to achieve with your money? What's your timeline for achieving your goals? 

Whatever your goals are, set a number and a timeline for them and write it down. You can then divide that number ...

At the end of each week, you check your balances against your goals. At the end of the month, you look back at where you ended up in relation to your goals in each category and ask yourself where you can do better.

We've become so accustomed to immediate gratification these days. Kakeibo as...