Three Surprising Ways to Take Charge of Your Finances

The Struggle with Budgeting in the United States

A significant portion of Americans, 74 percent, have a monthly budget, according to a Harris Poll survey of over 2,100 adults. However, maintaining these budgets proves to be a challenge for many. The same survey revealed that 84 percent of consumers have exceeded their budget at least once. Groceries are the most common area where people tend to overspend, with 83 percent admitting to this habit.

Managing spending effectively can be difficult, but there are several unconventional methods that can help individuals regain control of their finances. These approaches offer unique ways to tackle budget-busting habits and encourage more mindful spending.

Kakeibo: A Japanese Approach to Budgeting

One such method is Kakeibo, a traditional Japanese practice that involves tracking expenses by writing them down in a journal or ledger. This methodical approach not only helps in monitoring spending but also has cognitive benefits. According to a 2025 study published in the scientific journal Life, handwriting strengthens memory and activates various brain functions that enhance mental interaction with written content.

Kakeibo also provides a structured framework for budgeting, dividing spending into four categories:

• Survival: Essentials like food, rent, and transportation
• Culture: Entertainment expenses
• Optional: Non-essential purchases such as dining out
• Extra: Occasional purchases like birthday gifts and unexpected repairs

CNBC contributor Sarah Harvey tried the Kakeibo method after moving to Japan in 2017. She noted that while it helped her stay on top of her finances, it also forced her to reflect on her purchasing decisions and the motivations behind them. This level of introspection is something other systems she had tried previously lacked.

Controlling Impulse Purchases

Impulse buying can severely impact even the best-intentioned budgets. In fact, 85 percent of shoppers have regretted an online impulse buy. To combat this, some experts recommend setting a simple rule: avoid making purchases after 6 p.m.

According to a 2025 study of 803 consumers and 201 e-commerce decision-makers from hosting solutions firm Liquid Web, 42 percent of shoppers make spur-of-the-moment purchases between 6 p.m. and 9 p.m. Fridays and Saturdays are particularly popular days for such evening purchases.

Retailers often employ tactics that encourage frivolous spending, such as speeding up checkout processes to improve customer retention. While impulse buys may feel good in the moment, they rarely lead to long-term satisfaction. As checkout speeds increase, so do feelings of buyer’s remorse, especially among younger consumers.

Avoiding BNPL (Buy Now, Pay Later)

“Buy now, pay later” (BNPL) has become a popular payment method, particularly among younger shoppers. A study from Capital One Shopping Research projected that 91.5 million Americans would use BNPL in 2025, with 40 percent being Gen Z shoppers. This payment method offers a low barrier to entry, as users typically don’t need a formal credit check to be approved.

However, the ease of access comes with drawbacks. A study led by Ed deHaan, an accounting professor at the Stanford Graduate School of Business, found that BNPL customers are more likely to face three expensive realities compared to non-BNPL users:

• 4 percent higher rate of overdraft charges
• 1.1 percent higher credit card interest rate
• 2.3 percent more credit card late charges

These numbers more than double when using BNPL offered by retailers. This translates to an average of $176 per year in extra charges for users, with some facing up to $252 annually.

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