The Secret Money Saving Rule I Learned in Japan
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- Опубліковано 25 тра 2021
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This video is about a secret money-saving rule I learned from my Japanese grandpa (ojichan), that helped me to save $10,000 a month. Follow me on IG: erikankullberg
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Disclaimer: I am not a financial advisor. Although I am a lawyer by profession, I am not your lawyer and no attorney-client relationship is established with you in any way. This video, and the ideas presented in it, are for entertainment purposes only and should not be construed as financial or legal advice.
Do not save what is left after spending, but spend what is left after saving. - Warren Buffett
"A budget is telling your money where to go, instead of wondering where it went." -John Maxwell
The Japanese life style is spot on. I own my home on an acre of land, own my vehicle outright and raised a child by myself. I have never made over 40k/yr. Currently I have no debt accept a house payment of less than $500/mo. and now work 30 hours per week. I am an artist and use my surplus time to create and spend a lot of time with my grand babies. This is how life is supposed to be.
I notice that people always talk about subscriptions. I just buy a gift card for Netflix and add it to my account and never have to worry about it for months. Maybe at Christmas or birthdays ppl should ask for gift cards for their subscriptions or other entertainment so that it's one less thing to deal with during the year.
What I've learned from budgeting in my 20s:
When I was a young married woman, 50 years ago, I had a neighbor, 96 years old, from Russia, still doing her own yardwork--which is how we met. She told me pay my savings account first and then only spend cash. Some of the best advice I ever got. One of the things I've seen is that when people are struggling financially, they don't think they can budget. Huge mistake. That's when you need to budget the most. It helps you live in financial reality. Hiding from it leads to disaster.
When my children were younger, before we left to go anywhere, I would pack an ice chest with water, juice, fruit and healthy snacks. It helped to cut down on buying unhealthy snacks or drinks at the store and on purchasing fast food.
At 42, I've come to realize that money is a tool. I’ve worked so hard over the years to realize that if you don’t make money work for you, you can’t experience true freedom. I’m glad I found that out although it was later in life, but that marked the turning point in my finances.
This is exactly what my grandmother taught me! She has a journal she writes in every day, and I hand write my budget! Nothing beats pen to paper! 😊😊😊
My saving strategy is simply stay away from people who are taking advantages out of my kindness 🙄
"It's not how much you make it's how much you save" (Japanese saying)
Just remember that time is the one thing that you can't buy back. Once it's gone, it's gone, so use your time wisely.
My house is 400sqft. I paid cash.
When I was 29 I had one gas credit card (more common back then, I haven't had one for years). I once misplaced a bill unknowingly and had to pay about $1.85 in interest. I was so mad at myself. I'm 72 now and that is the only credit card interest I've ever paid.
Some of us save to buy at Costco because the grocery bill is reduced overall if you can wait to buy in bulk. Shopping single serve is incredibly expensive in the US, so always be careful of just assuming a low absolute cost in the short run is saving you money. Over the course of an entire month, the carefully selected items from Costco are the only reason my basic groceries stay affordable.
I use an excel sheet to manage my budget. Right after receiving salary, I put them in separate bank accounts for saving, investing and daily spending.
Here in the Philippines, most people hate the thought of writing down expenses as they do not want to limit their "happiness". This is the reason why most are hoarders, even my father is still keeping a closet of old, outdated, and weared out clothes in the closet. He is having a difficult time disposing items that he bought, whether they were bought in cash or in loans. I am trying to change his mindset little by little. I now write down our expenses on a calendar located in the kitchen so he can view the monthly expenses especially the electric consumption. We use a prepaid electricity system and I am the main payer, so I have to write down the paid amount, whenever I add credits. I noticed he is doing his part in saving electricity consumption, turning off lights when not in use, unplugging appliances after using them, this does help save a little amount and I am thankful this one works. Yes, I agree that financial journals, whether personal or for my part, household (via our kitchen calendar), does save money. If we cannot increase our income, then live by the budget. Thanks for this video. Wonderful job.
This is amazing. “How to build wealth
My Indian grandfather got paid on Friday evenings and brought home his paycheck to my grandmother. She then gave him an allowance and used the rest for savings and household spending.
I used to write down every dime I spent when I was in grad school...even money I used in vending machines. I really need to get back to this immediately!!!!!