What is kakeibo, the mindful Japanese budgeting method ?

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There are a number of possible reasons why people don’t manage to save as much money as they would like. For example: paying for things with a credit card can make you forget how much you’ve spent, or you simply don’t earn enough to save in the first place. You might feel like money saving methods simply won’t ever work for you. But let's go back to basics. A simple Japanese technique called “kakeibo” could just revolutionise your relationship with money. The word “kakeibo” roughly translates as "household expense book". It refers to a notebook where you list your income and expenses, divided into several categories. But there’s a purpose behind all of it, of course, which is being able to save money you otherwise wouldn’t. Where does this method come from ? And why would it work better than other techniques ? How do I get started then ? In under 3 minutes, we answer your questions! To listen to the last episodes, you can click here: What is Rufus the Hawks job at Wimbledon? What is an eco-friendly beach ? Why do we get grumpy when we're hungry? A Bababam Originals podcast, written and produced by Joseph Chance. In partnership with upday UK. Learn more about your ad choices. Visit megaphone.fm/adchoices