Photo: Japanese currencySaving money in Japan has become an art form and as the economy currently travels through an uncertain time, Japanese customers are developing, adjusting and implementing new and proven techniques to save money. Japanese customers like Americans save for a variety of different purposes: to pay off a car loan, house loan, go on vacation, save for their children's futures, big ticket items, for their retirement and for rainy days. No real differences here but what makes Japanese customers different from American customers is the amount of sacrifice they undertake and the mindset they form to achieve their final goals.
In Japan, low interest rates means banks haven't payed high amounts of interest since before the "bubble", (The Japanese asset price bubble (バブル景気 baburu keiki, lit. "bubble economy") was an economic bubble in Japan from 1986 to 1990, in which real estate and stock prices greatly inflated),Source: Wikipedia, so money cant be made from interest on a term deposit in Japan. If we look at the stock market, again since the "bubble", typical Japanese customers have not been able to use the stock market as a way to make money (poor performance and the high cost of entry) has limited it as a vehicle. Real estate an area where speculation can make money has not been an option, as since the "bubble" house prices in Japan have decreased continuously for many years except in some downtown prestigious locations that have seen some growth, so real estate has not been a good option. Finally we come to insurance, particularly life insurance which is seen as a popular way to gain a secure future.
Looking at the options available for Japanese customers to make money through investments we see the choices since the "bubble" have been quite limited except for life insurance policies. If we combine this information with key characteristics of Japanese culture, for example, it is good not to waste, it is good to sacrifice for the long term and frugality (to get by with less), we discover that Japanese customers are born savers.
How to save money like a Japanese Customer
Tip 1 - Delay
We start with the first tip and that is to delay or forgo purchase until more information has been gathered, prices have gone down or a new model has come out or new features have been included, or until good feedback has been obtained from friends or other users. Saving money from a reduced price is a sweet joy not to be missed.
Delay can be for days, weeks, months or years. It is really up to the individual temperament of the saver but some consider that the longer the delay the better the bargain, as more knowledge can be gained putting the buyer at advantage.
Stay tuned in forthcoming posts about other tips!
Learn more about Japan at
Study Abroad Japan
In Japan, low interest rates means banks haven't payed high amounts of interest since before the "bubble", (The Japanese asset price bubble (バブル景気 baburu keiki, lit. "bubble economy") was an economic bubble in Japan from 1986 to 1990, in which real estate and stock prices greatly inflated),Source: Wikipedia, so money cant be made from interest on a term deposit in Japan. If we look at the stock market, again since the "bubble", typical Japanese customers have not been able to use the stock market as a way to make money (poor performance and the high cost of entry) has limited it as a vehicle. Real estate an area where speculation can make money has not been an option, as since the "bubble" house prices in Japan have decreased continuously for many years except in some downtown prestigious locations that have seen some growth, so real estate has not been a good option. Finally we come to insurance, particularly life insurance which is seen as a popular way to gain a secure future.
Looking at the options available for Japanese customers to make money through investments we see the choices since the "bubble" have been quite limited except for life insurance policies. If we combine this information with key characteristics of Japanese culture, for example, it is good not to waste, it is good to sacrifice for the long term and frugality (to get by with less), we discover that Japanese customers are born savers.
How to save money like a Japanese Customer
Tip 1 - Delay
We start with the first tip and that is to delay or forgo purchase until more information has been gathered, prices have gone down or a new model has come out or new features have been included, or until good feedback has been obtained from friends or other users. Saving money from a reduced price is a sweet joy not to be missed.
Delay can be for days, weeks, months or years. It is really up to the individual temperament of the saver but some consider that the longer the delay the better the bargain, as more knowledge can be gained putting the buyer at advantage.
Stay tuned in forthcoming posts about other tips!
Learn more about Japan at
Study Abroad Japan
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