The proven secret of wealth: how the Japanese effectively accumulate and grow money

The Japanese believe that accumulating money requires refusing unnecessary purchases and moving slowly but purposefully toward a goal.

Residents of this country are known for their ability to bring something to perfection in a particular business, and this also applies to saving. TSN writes about this.

They have developed a few simple rules that can be useful for Ukrainians:

• compare prices in different places before buying, because the same product may be cheaper or have a discount in another store;
• Avoid spontaneous purchases without a clear need – analyze your daily expenses and, perhaps, refuse an extra cup of coffee if it is not necessary, and use the saved money for more important things;
• if you want to buy something you don't need, try to put this idea on hold for a while – later you can look at it from a different perspective and may not want to spend the money anymore.

The Japanese believe that impulsive and reckless spending is the biggest threat to personal finances. To combat this problem, they have developed a special system of questions to ask themselves. It is important to answer these questions with maximum honesty:

• Am I being driven by emotions when making a purchase decision?
• Do I really need it? Can I afford the cost?
• How did I learn about the product or service? Have I been influenced by advertising or other people's experiences?
• Will I use it long-term or is it a temporary need?
• What emotions will I experience after the purchase and will they be long-lasting?

By answering these questions, you will be able to understand whether the purchase is worth making or whether it will bring only momentary pleasure.

To save effectively using Japanese methods, it is important to have self-discipline. The Japanese often make small but regular contributions to their savings. For example, they set aside money saved through discounts, round up expenses to a higher number, and save the difference. When they buy expensive items, they set aside a certain percentage of the amount, which they call "spare parts." When they are repaid, they also set aside this money. Sometimes, the Japanese even "fine" themselves for unfulfilled promises, setting aside money for each such violation.

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