You can KonMari your money.
KonMari is the Marie Kondo method of decluttering. The method is designed for simplifying the mess in your home. There are a popular book and a Netflix TV show all about it.
However, you can take the main principles of the method and apply them to your finances. Doing so, you can make smarter financial choices and feel more in control of your money.
Put It All In One Place
One of the first things that you do when you Marie Kondo your home is to take all of the things in one category and place them where you can see them. For example, if you are organizing your clothes, then you take every single clothing item out and place it into one pile.
It absolutely makes sense to KonMari your money in the same way. You should have one place where you can look to see your income, expenses, investments, budget, net worth, etc. If all of that information is scattered in different places, then you aren’t going to be able to make sense of it. For example, if you use a bunch of different credit cards, and you don’t really know what your total amount of debt is, then you’re in trouble.
Find a method that works for you to KonMari your finances in this way. You might use an app like Mint. You might use pen and paper. Whatever it is, make sure that it’s both clear and complete. Just this simple act of putting all of your money information in one place can help you feel like you’re more in control of personal finance.
KonMari Your Money with a Budget That Sparks Joy
One of the things that Marie Kondo is most known for is the idea that everything that you own should spark joy. When it comes to your closet, you pick up each item of clothing, hold it, and if it sparks joy then you keep it. If it doesn’t spark joy, then you get rid of it.
You can apply this same concept to your budget. Look at all of your expenses and how your budget is allocated. Go line-by-line to determine whether or not your spending choices truly spark joy. For example, let’s say that you spend $100 on cable TV. Does watching cable TV spark joy for you? If not, then maybe that’s a cost that you can eliminate. Where in your budget could you reallocate that money to spark more joy?
Of course, there are some things in a budget that just have to be there, whether or not they truly spark joy. However, you can use this information to help you set goals. For example, paying your mortgage probably doesn’t spark joy. However, your home itself should spark joy. If it doesn’t, then you do still need to keep your mortgage in your budget. However, that’s good information to know that perhaps moving should be part of your larger financial plan.
When you KonMari your money, what you’re really doing is figuring out your financial priorities. The idea is that you want to spend less on things that don’t give you joy and more on things that truly make you happy at a very deep level.
If you watch the Netflix show, then you will see that Marie Kondo does something interesting before she even begins helping people organize their homes. She pauses and does a silent prayer of gratitude to the home. Likewise, when people give away an item that doesn’t spark joy, she suggests that they thank the item for the purpose it has served.
This attitude of gratitude is really helpful when it comes to changing your attitude about money. Our society tends to make us think about money in a negative way. We may feel like we never have enough, for example. On the other hand, we may be unhappy with our past spending choices or with the way that money impacts our relationships. Starting from a place of gratitude makes it much easier to work with our money.
Additional Ways to KonMari Your Finances
I’ve read some of the other articles out there that people have written about how to KonMari your finances. Here are some of the tips that I liked:
- Go paperless with financial statements. This helps you KonMari your whole home.
- Carefully organize all paper you do keep in one specific, limited places.
- Simplify your financial life as much as possible in order to make good decisions.
- Declutter your wallet by reducing the number of credit cards, loyalty cards, etc.
- Stay in touch with how you feel when you spend and save money.
- Continue cleaning up your money on a regular basis to avoid another financial mess.