The Secret Money Saving Rule I Learned in Japan

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.

[MariaAndersenCrypto]

Do not save what is left after spending, but spend what is left after saving. – Warren Buffett

[harmonfinancialcoaching]

"A budget is telling your money where to go, instead of wondering where it went." -John Maxwell

[thismudsu]

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.

[pac]

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.

[natalee]

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.

[s.s.]

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.
My children are now grown, I still do the same thing for me when I’m going to be going out for a day of errand running. I will pack an ice chest and have water and/or herbal tea or iced coffee as well as healthy snacks. If I know I’m going to be gone for a longer period of time I will even pack a lunch and take a book so that I can go somewhere nice and have my lunch and do some reading.
A dual win, saves money and is healthier!

[MegaDiddlemaus]

My saving strategy is simply stay away from people who are taking advantages out of my kindness 🙄

[lifewithyesi]

What I've learned from budgeting in my 20s:

-buy 2nd hand as much as possible (there's a chance someone out there is getting rid of the item you want in great condition)

-eating out is a luxury so I treat it as such ( I will not pay for takeout. If i'm eating out it's for the experience, so i'm going to go out & enjoy it. This means, no fast food for me)

-meal planning is the key to not overspend on food/ waste food

-when people would ask me what I wanted for the holidays or my birthday, I would say "anything, is fine" or "whatever you want." I quickly realized how doing that just made me end up with a home full of clutter & things I didn't necessarily want. Now, I actually tell people what I want/ need and these are all items that would be put to use :)

[TheBushmanFamily]

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! 😊😊😊

[howellwong]

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.

[stevencanal]

"It's not how much you make it's how much you save" (Japanese saying)

[Lfgyf]

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.

[humblecourageous]

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.

[PInkW]

My house is 400sqft. I paid cash.
I have no debt
I have no car
I have no TV
I have no microwave
I have no couch
I have no credit cards
I have no student loans
I make $3800 a month
My living expenses are $800

[elizaknight]

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.
It works well for me.

[wosali]

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.

[l.a.w.]

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

[ficnonnie]

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.

[leesteal]

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.

[kesayo]

I was born to Japanese parents in America and they definitely raised me to be minimalist. I really just don’t like spending money except for absolute necessities or on investments. I still drive around in a 17 year old beater because I don’t like replacing things that still work. And I also don’t buy new clothes or shoes until the ones I’m wearing become unwearable. Usually my wife throws them out when she becomes embarrassed by them.