Kaikebo 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.
Budgets are like diets for your wallet. They’re never fun, they mean a lot of restriction and denial, results are somewhere off in the future, and they can make people super cranky. If you’ve ever tried to put yourself on a budget (or a diet), you know just how difficult it can be.
“Everything that is generally good for our financial health goes against what culture has taught us,” says Joy Liu, a trainer at The Financial Gym, a financial services company that works with people of all income levels to help them get their finances on track. “Setting and sticking to a budget could be a lifelong practice of unwinding all the learned behaviors we have from society, our friends, and even our families. It’s not easy. ”
Yet that doesn’t mean we don’t keep dieting or keep trying to get ourselves on a budget, though. As Liu says, “Even if you are failing at it, you’re still trying.”
Recently, an old Japanese technique for budgeting has caught the attention of the public again, and it could be the mindfulness answer to getting your financial house in order. Meet kakeibo, a Japanese budgeting system that could change your financial life.