Expansion often means exploring the unexplored. Two of India’s largest companies have done it. Reliance Industries Ltd on Wednesday said it’s going to expand its food-and-grocery play in JioMart to include fashion, consumer electronics, and smartphones by this festive season. Tata Consulting Services (TCS) on July 8 launched Quartz smart solution to offer cryptocurrency trading. […]
Two Indian business giants are innovating during Covid19.
A Big Hello to all you people out there! I am Venkat again, with so much of gratitude for the overwhelming responses for our last post on the ‘Introduction to Kakeibo’. Thank you all, who have requested for the working models of Kakeibo. Hope we’re delivering to your expectations and much more. Let’s all get to know more about making an effective use of Kakeibo, by asking ourselves a few questions:
Kakeibo is a confluence of planning, journalising, and keeping a ledger to make us aware of our spending habits. Here is a step-by-step guide to using Kakeibo:
Budget is the Boss: Why the Boss? Because it gives you the directions for the month to follow. At the wake of every month, write down the monthly income and already fixated payments for the month. Subtracting the expenses from income is not only going to give us the surplus for additional expenditure but also the actual pinch of making such expenses.
Bulls-eye on Savings: Savings are an important part of Kakeibo – can you imagine a tax we’re gonna pay ourselves? If yes, then we’re on the same page. Setting a realistic monthly goal for saving and writing down the true purpose of it are encouraged. Akin, saving for a vacation, saving for higher education and others. Once the goal is set, the savings are to be deducted from the income every month. And never forget to set aside the savings money in reality. Money on paper is still worth nothing if it’s not gonna be Hand(y).
Map your Money: Week after week, every expenditure needs to be written down in the ledger and this has to be done real-time. And here comes the classic section – Kakeibo recommends this to be done with pen and paper, which helps in slowing down, paying attention to the present moment, and thinking about its impact on future spending. It stresses on the importance of physically writing things down — as a thoughtful way to process and observe our spending habits.
Wondering how to get all this into action? No worries, you can subscribe to our electronic version of ‘Kakeibo Notes’ by placing a request from our ‘Contact Page’. Our template not only helps you to keep track of your cash movements, but aids you in your Rally to Reconcile, Realign and Remediate deviations, all in one spreadsheet.
If this idea interests you, don’t forget to like this post. Also, follow our blog to know more about Kakeibo and a lot of other ideas from across the globe.
Content Contribution: Sriram Thirumal
Written by: Venkatasubramaian V.
Does saving money mean not spending at all? Can the habit of saving change you as a person? If so, what are the effective ways to save money? What big change can be brought in by doing so?
To answer these, let me take you through a process which is older than 100 years (116 years – to be precise) and still continues to be one of the best ways to save money being tried, tested and practised for years and years.
This is a Japanese art named “KAKEIBO” – pronounced as “Kah-Keh-boh”, that translates to “Household Financial Ledger”. It was structured in 1904 by the First Female Japanese Journalist “Hani Motoko”, who believed that “Financial stability is crucial for happiness” – just as most of us do.
It is an old-fashioned but effective method that relies on pen and papers. It demands two books, one for noting down every penny spent and received, which should be carried everywhere we go, and the other one is to consolidate such receipts and payments categorically. This is where we, from ProjectSpace, have crafted an excel template with precision and purpose. Do leave us a note from the contact page, if you’d be interested to subscribe our electronic version of ‘Kakeibo Notes’. Our template not only helps you to keep track of your cash movements, but aids you in your Rally to Reconcile, Realign and Remediate deviations, all in one spreadsheet.
If this idea interests you, don’t forget to like this post. Also, follow our blog to know more about Kakeibo and a lot of other ideas from across the globe, thanks to our upcoming posts.
Sriram Thirumal
Everyone is Unique… Every enterprise has to be Unique.. Especially when it comes to work culture, product / service deliverance and most importantly, crisis management… Who wouldn’t want to be prepared for tough times, afterall! Having a Plan B in place for every sticky possibility is a common sense as per strategy designers.
So how do we ensure sustenance even in the most unexpected crisis situations, that are not even preceded in the past to take references from? Here we are, taking lessons from the fundamental strategy of risk mitigation – diversification.
Passive investments in diverse avenues will ensure our stroll, when running gets difficult. At times when our regular chores of business operations aren’t kicking off, the irregular revenue streams become our oxygen masks. This holds good not only for businesses, but also for individuals..
Wait… This is not only from the financial or professional front, but also from the psychological front. Why are there so many artforms in the firstplace? They get us going at all times, they catalyse our morale and add a sense of admiration even when we are stranded in mid-sea adversities.
Explore, Diversify, Hustle and Stay afloat… The next shore is round the corner!!
Venkatasubramanian V.
Project Space 