Episode 35 continues our financial well-being series on how finances affect pharmacist burnout and burnout in healthcare. Let’s stopped using our graduate student loan debt as an excuse for staying trapped in jobs we dislike and start your debt-free journey today with a FREE Kakeibo workbook template. I went debt-free and SO can you YOU with these tips and ways to diversity your income streams and ensure finances are affecting your well-being, stress and burnout feelings.
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Mentioned on Ep 035: Feeling trapped with student loan debt – The Burnout Doctor discusses her debt-free journey using the Japanese Kakeibo method
WATCH THE VIDEO:
More resources for you:
- Download the free Kakeibo resource to take action today
- 4-part series on Financial Well-being and Debt-Free living on the podcast
- Episode 34: How Finances affect Pharmacist Burnout
- Episode 35: What is the Japanese Kakeibo Method?
- Episode 36: How to Mindfully Shop?
- Episode 37: 5 Things I no longer purchase after going debt-free
Hi friends and welcome back to The Burnout Doctor Podcast, I’m your host, Dr. Jessica Louie. Welcome to episode 35 where we’re talking about What is the Kakeibo method and how it helped me go debt-free from pharmacy school loans.
Kakeibo:
Japanese philosophy known as “household financial ledger”
The Kakeibo method is a simple concept. We make a plan. We write down our spending with pen and paper. We track it spending over 4 pillars. We more money we save, the higher quality of items we can buy in the future (instead of the mindset many Americans hold, the higher quantity of items we can buy).
First, we start each month with recording our fixed income and fixed expenses.
Second, we set a saving goal for the month.
Third, we record our expenses daily in our Kakeibo tracking sheet or notepad. The four pillars we categorize each expense into are:
Survival: necessary expenses such as housing, groceries, medical/healthcare, transportation
Optional: things you don’t need to do but choose to do such as eating out, restaurants, bars, shopping, luxuries
Cultural: cultural events such as books, movies, shoes, music
Extra: irregular and unexpected costs such as repairs, gifts
Yes, we write down each and every dollar leaving our wallets with pen and paper. Yes, you may have an app on your phone that does this automatically but that is passive. We are proactive action takers and can manually write these down (or manually put them into the app).
At the end of the month, we ask ourselves four questions:
- How much money do I have?
- How much money would I like to save?
- How much money am I actually spending?
- How can I improve on this?
Then, we assess our progress towards financial freedom and financial well-being and repeat for the next month.
Now it’s your turn to take action. Share with me how finances are affecting your feelings of overwhelm and burnout.
My coaching program offers 30-minute weekly sessions to check-in for accountability, reflect on progress, answer and guide you through difficulties. Apply now at DrJessicaLouie.com/coaching.
Until next time, spark joy my friends!
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