Ken Honda is a bestselling author of “Happy Money: The Japanese Art of Making Peace With Your Money” and an authority on happiness. His experience in the financial sector stems from his ownership and administration of a number of companies, including an accounting firm, a management consulting firm, and a venture capital corporation. Ken currently resides in Tokyo, Japan, where he attended Waseda University to study law.
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Who is the mentor of Ken Honda?
However, think about the work you can do for yourself first before you sit down for a heart-to-heart with your family. Honda offers two quick and effective exercises.
- Thanks for your cash. Honda attributes the idea to his mentor Wahei Takeda, who is frequently referred to as Japan’s Warren Buffett. According to Honda, Takeda said: “To achieve money and happiness, there is only one thing you need to do. That’s to thank you for your money. When money comes in, thank it, and when it leaves, thank the money. Honda goes on, “Takeda believed that the key to achieving financial security and happiness was to simply thank money. The cycle of appreciation begins once you begin to value the money that enters and leaves your life. Additionally, because the human mind can only concentrate on one thing at a time, worrying is impossible while you are focused on money and feeling grateful for it. You cannot worry about money if your thoughts are on how grateful you are to have it. Honda claims that after a few weeks of this routine, “You become aware that you haven’t thought about money in days. Just take time to appreciate your money and it won’t cost you anything.
- Dream of the actions you would take. The second exercise from Honda asks us to consider what we would do if we weren’t concerned about money.” He advises you to live your life doing those things. “We have tight financial restrictions because we worry that if we followed our passions, we wouldn’t be able to support ourselves. Therefore, all I ask of you is that you begin to imagine what might be. Honda is aware that for some of us, it’s a challenging task. ” I understand that if you can deal with your financial problems, you will be able to see what is potential for your life, he says. However, based on his personal experience as well as the marriages, career changes, and other positive decisions that his clients have taken, Honda is adamant that we can be well and succeed. “According to Honda, life should be thoroughly experienced and resources should be shared. ” How to find your gifts, follow your passion, and create a living are all topics covered in “Happy Money.”
Where resides Ken Honda?
In Japan, where he has sold more than seven million books since 2001, Ken Honda is a well-known author of self-help books. His works bridge the fields of finance and self-help, emphasizing on building and generating personal wealth and happiness via deeper self-honesty, despite the fact that his financial knowledge comes from owning and managing multiple enterprises. He is the first member of the Transformational Leadership Council who hails from Japan. He is fluent in English and Japanese and has lived in Boston and Tokyo. Visit KenHonda.Tokyo to learn more about Ken and Happy Money.
Make sure that money accompanies you while doing what you love, Ken Honda ?
Real happiness comes from understanding who you are. Most people don’t know what their mission is, what they are excellent at, or what actually makes them happy because they are so lost in the daily grind. The majority of us are consumed by our desire to just live comfortably. The “Warren Buffet of Japan,” the Japanese novelist Ken Honda, contends that even if you don’t have money, you can still be happy if you know who you are and what you should be doing. Ken learned that doing what you love increases your chances of success compared to pursuing a career you don’t find enjoyable. Ken talks on the lessons learned from his several books, which have helped readers discover pleasure and financial success by pursuing their passions. How can you discover your identity?
What is the Arigato financial method?
In Japanese, the word “arigato” means “thank you,” and the secret is to express thanks for both incoming and outgoing funds. In and out with arigato. The most crucial daily action, according to Wahei, and the one that let him amass billions of wealth, is to “be thankful 1,000 times a day.”
Categorize everything you buy
Keep track of all your purchases in the relevant “pillar and mention the cost of the purchase.
The component of kakeibo that I found most useful was the sorting procedure. You give something more thought than you usually would when you have to categorize it. Untangling wants from needs proved to be more difficult than I anticipated!
I am a large consumer in the “It was intriguing to see those findings on paper for the culture area (I like to support the arts) as well as how much money I spent and the artists and organizations I choose to support.
Answer four reflection questions at the end of the month (or week)
Occasionally, whether monthly or weekly, jot down your responses to the following questions:
- How much do you spend each month?
- What amount of money are you hoping to save?
- What can you do better?
- How much cash do you possess?
What much of money do you spend?
How much cash do you hope to save?
How can you get better?
What amount of money do you have?
Repeat as needed
Every time, the categories and questions are the same. This consistency was nice. My financial planning doesn’t have to change if my circumstances or goals do.
How does Japan reduce spending?
The practice of keeping a kakeibo, or “home finance ledger,” in Japan is a simple way to stop careless spending. In order to control wasteful spending and assist you in reaching your financial objectives, this budgeting approach combines tracking purchases with the practice of mindfulness.
Do what you love—what does it mean?
- I love being my toddler’s caregiver, but it also means stinky diapers and mashed potatoes in my hair, neither of which I particularly enjoy.
- I enjoy creating high-quality blogs, but doing marketing and self-promotional activities outside of my area of expertise is not my favorite pastime.
- Even though there are days when I’d much rather not, I get up at 5:30 am to exercise because I love feeling good.
- My husband and I enjoy being close, so when he talks about the newest advancements in computer programming—definitely more his passion than mine—I listen carefully.
Doing what you love doesn’t guarantee an easy life. It does not imply that you will never experience worry, annoyance, or exhaustion.
It’s okay to do things you don’t enjoy doing in order to pursue your passions. Since the things you don’t love ultimately make you stronger and closer to the things you do love,
How can I earn money while doing what I enjoy?
Learn how to make your passion pay off and turn your side business into a job, from planning to implementation.
Many of us have had time to reflect on some difficult questions after two years of uncertainty and greater isolation than anyone anticipated. Big question: What do you enjoy doing?
More people than ever are looking at methods to make money doing what they love, whether you want to call it the gig economy, passion economy, or just following a calling. There is good news for creatives: it’s now simpler than ever to buy and sell creative work online.
Check out this brief approach to turning your side gig into a career, which includes the tools that make it all so simple (like Dropbox Shop, which you can check out below).
Why are Japanese people such savers?
Japan’s propensity for cash is undoubtedly influenced by these economic experiences, but they don’t fully explain why. Before deflation or the market collapse started, according to official figures, household investments were significantly weighted toward cash, more so than in recent years and even more so than in recent years (Figure 3). Deflation and memories of the market crash may have been the key movers since the turn of the century, whereas other variables may have dominated investment behavior before to the 1990s. Of course, the causes of Japan’s cash preference may have evolved through time. Therefore, it’s worthwhile to delve further to comprehend some of the structural and cultural justifications and take into account how they might be impacting investment behavior at this time.
The first thing to consider is financial literacy. Financial literacy appears to be weaker in Japan than it is in counterparts in other nations, according to polls. In the most current financial literacy study, for instance, Japanese respondents performed 7 percentage points worse on equivalent questions than respondents from the US, Germany, and the UK. In addition, compared to comparable cohorts in the United States, Japanese respondents’ outcomes were poorer across all categories of gender, age, and annual income (Figure 4). Lower literacy may be a factor in investors’ reluctance to invest in risky securities and preference for pooling their savings in cash. Financially educated people are more likely to own stocks, are more aware of financial products, and have a better tolerance for short-term losses. However, there may be some reverse causation at work here, as there are fewer possibilities for people to learn financial literacy through experience in a deflationary climate or an economy that is going through a protracted market crisis.
Other drivers might have a long history. In order to achieve its reindustrialization objectives in the years after World War II, the Japanese government carefully regulated its domestic financial markets. Regulations were designed by the government to increase household savings and direct these resources into bank deposits. These deposits would then serve as collateral for loans from domestic banks for investment and industrial rebuilding. This bank-centric paradigm constrained household savings in bank deposits, but it enabled Japan to direct financial resources into specific domestic industries and accelerate the rapid industrialization that took place over the ensuing decades.
An alternate explanation for the risk aversion is provided by other research that has been concentrated on the role of Japanese real estate investment. Housing-related assets are behaving more like high-risk investments in Japan due to a lack of liquidity in the real estate market caused by low market prices for existing residences and an underdeveloped lending system. Therefore, according to analysts, households have a surplus of cash in their financial portfolios to make up for their real assets’ lack of liquidity and safety.