I have never been good at saving money. I am good with numbers though. I can crunch the numbers, budget, and even balance books. But it seems that being good with numbers and actually saving money are two different skill sets. I will admit that I like to shop. I use shopping to take my mind off of worrisome things, entertainment, and as a reward for working so hard. It gives me something to look forward to. I love going to the recycle shops to find bargains for things that I don`t even need. The high that I get from finding those bargains only lasts for a little while though and then I`m on to the next item I can find. I have tried to curve this need to shop by actually trying to budget. I use the Envelope Method to help me break down how and where I spend my money. This has helped me a lot since I am able to visually see my money and where it is going. But this has not helped with my shopping habit, however. And I often find myself dipping into one envelope to save another or most often than not to buy something that I don`t need. And here is the catcher, if I make it to the end of the month and I actually have money left over its SHOPPING TIME! I work so hard, right? So I should reward myself with something nice. And there goes my savings. It truly is a vicious cycle. So how do I combat this never-ending cycle of this zero net savings?
Enter the Cat! ~ Meet Nikki.
She is a Maneki Neko (Lucky Cat) and the equivalent to a piggy bank in the west. Nikki is a very greedy cat who likes to be fed every time I make a little luxury purchase that doesn't contribute to me being able to live. Yes, I might need things such as toothpaste, but do I really need that fully organic peach flavor Hello Kitty toothpaste? Here`s how she works:
- When I buy a luxury item or go shopping I have to feed her 10% of whatever the total cost of ALL the items I purchased. This also includes any transportation fees attached to it. For example, if I get a manicure that costs 4,000¥ I have to feed Nikki 10% of that cost. Also, say I have to pay for parking that`s 800¥. Well, that means that Nikki needs 10% of 4,800¥ which is 480¥. Mind you I have to pay this on top of the sales tax that I`m already paying to retailers which is 10%. So that means in total I pay 20% taxes! This is the NIKKI Tax!
Pretty harsh right? Maybe, but I`m hard-headed and I love shopping. By adding on the NIKKI TAX I hope to curve my shopping habits because it leads me to a series of questions. (In my friend Emma`s voice of course because she`s usually the one asking me when we shop together)
- Do I really need the item or do I just want it?
- If I want it, do I really desire it or will the feeling pass?
- Is it worth spending a 20% tax on it?
- Can I afford to feed Nikki her 10% tribute? (She`s very demanding)
- Will I be financially OK after I spend the money?
So far I have had very positive results using the Nikki Tax system. It`s only been in place for about a month and I can already say that it has kept me from spending as much as I usually would. I`m sure other circumstances are part of the reason that I've been holding back on my shopping habit but having to pay the extra tax on top is the perfect extra layer. Here`s to saving money and my attempt to be a responsible adult.