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I tried 'Kakeibo': The Japanese art of saving money-and it completely changed how I spend my money
Spending money mindfully
- Leave the item for 24 hours. If you still want it and can afford it, then make the purchase.
- Don’t let “blowout sales” tempt you. Ask yourself if you would buy the item if it were full price.
- Check your bank balance first thing every morning. It will ensure that you are aware of how much money you have to spend.
- Spend in cash. Handing over cash makes you more conscious of what you're spending.
- Put a sticker to your credit card that states "Do you really need this?!"
- Change the environments that cause you to spend.
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SIMILAR ARTICLES & IDEAS:
9
Key Ideas
Myth: Shop Early for the Best Deals
While early holiday shopping can snag you discounts and the best selection, you are most likely to get the best deal just before holiday shopping.
Retailers need to move h...
Myth: Buy Coupons for Huge Discounts
Coupons are sold in lots to allow couponers to stock up on the best deals.
While coupons are great to save money, it does not make sense to spend on coupons in order to save. Coupons vary greatly by geographic location and store, and may not apply to your geographic area. Instead of buying coupons, get the Sunday paper for better ads, download an app or keep a coupon binder to stash extras.
Myth: Always Buy in Bulk
It makes sense to stock up on non-perishable items such as soap and canned goods.
However, buying wholesale perishable items like fruit and milk might mean it goes to waste if you can't consume it before the expiration date.
6
Key Ideas
Being Frugal Is Not Cheap
Frugal people do spend money, but want the maximum bang for the buck, without stressing themselves.
Frugality does not mean compromising quality, neglecting your social life, or being a...
Be A Smart Spender
- Use tools like financial books, podcasts, and online savings groups.
- Avoid indulging in unnecessary expenses daily, reducing them or finding healthier and more affordable alternatives.
- Cultivate a healthier attitude and the right mindset towards your finances.
- Know that small, practical, money-saving actions can compound into better living for you in the long run.
Use Smart Hacks
There are plenty of financial and budgeting tools and apps that can help us manage our funds, keep track of our expenses, and trigger us when we are off-track.
Simple hacks like carrying a debit card or cash instead of a credit card, or deleting our card details from shopping sites can help us avoid spending impulsively.
5
Key Ideas
Practicing financial avoidance
Whether it is about your money or a person you are not fond of, avoidance is the key to a life without unpleasant events.
Every now and then individuals feel the need to avoid checking ...
Keep track of your spending patterns
According to experts in the field, when dealing with anxiety related to checking your bank account, the best solution to manage your anxiety is by checking your bank account.
While it might hurt you, this remains the only means to help yourself get in control and start managing your money.
Make a new habit
While planning on how to better keep track of your bank account, you might want to consider methods like starting to check your account once a month.
In order to do that, it could be useful to schedule a meeting in your calendar, devoted solely to this. Other ideas might include using spreadsheets to keep track of expenses or getting an automatic tracker.