I just read an article about the practice and it’s actually pretty interesting. The word “kakeibo” means household financial ledger in Japanese, and now there’s an entire book about it that will teach you how to save about 35 percent of your income each month. The main rule is to be aware of what you’re spending so you can cut down on frivolous expenses and save toward something meaningful
(you know, like a house). I’ll admit that’s not always an easy one for me, either, but I’m all for anything that will hold me more accountable.
If you’re curious about what you need to save in order to buy your next house, let me know. I’ll be happy to crunch some numbers with you.