I have a habit of saving too much. I’d love some advice from those with more experience.
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After graduating from junior college, I’ve saved 10 million yen from my monthly salary of ¥150,000 as an office worker, income from papa-katsu (compensated dating in Japan) (it varies, but around ¥300,000 a month? It’s gone down recently because of COVID), and ¥150,000 from my hobby of supporting idol activities. But I hardly spend any money in my everyday life and feel it would be wasteful to spend it on myself. I get my hair cut for free by working as a hair model, don’t get my nails done, and usually buy clothes on sale. I like small luxuries, so I’ll buy Häagen-Dazs or do a bit of online shopping, but that’s about it.
I’m starting to feel empty, wondering if I’ll just keep saving money and then die without ever enjoying it.
I’m torn between making an effort to spend a little more, even if it means stretching myself, and continuing to save as I have been. I often hear that you’ll regret not enjoying your money while you’re young, but I’m also scared of making a bad investment if I invest recklessly. Do you have any advice?
I’m Tetsu, a male member.
You shouldn’t start wondering whether you ought to spend your money just because you have around ¥10 million. If you’re the type who can save, then obviously you should save as much as you can.
¥10 million may sound like a lot, but if you became unemployed and lived on ¥200,000 a month, it would run out in just four years.
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I’m Aya, a female member.
I was pretty much the same as the person who asked the question—I used to treat saving money as a hobby. I had no problem buying clothes on Mercari for around 600 yen, and for years I got haircuts at a 680-yen salon, not even a 1,000-yen one. I’ve probably only bought something like Häagen-Dazs as a little luxury once or twice in my entire life.
I’ve lived this frugally, but after slowly saving up 50 million yen, I started wanting to try investing. I bought some U.S. stocks, found it really interesting, and now investing is my hobby.
Still, I think I’ll keep living frugally for a little longer—at least until my assets reach 100 million yen.
The period when women can earn money is short, even for idols. Let’s work on building our skills now so we can still earn through a regular day job as we get older.
I’ll keep doing my best too.
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I’m Hikouki, a male member.
The things money can buy will still be there to enjoy later in life—after 40—so I think you should embrace the experiences and emotions that can only be found in your 20s and 30s.
Those experiences will stay with you, and even when you’re older and able to enjoy things money can buy, you’ll be able to appreciate them with the added richness of everything beyond money.
It’s perfectly fine to enjoy the fun and dates of your younger years, as well as haircuts, nails, clothes, and other things that add to that enjoyment.
Whether you’re saving money or working toward success, finding things that feel meaningful and enjoyable to you can give you the energy to keep moving forward.
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I’m Maezawa from the CEO’s office, and I’ll answer this as well.
I don’t know how old you are, but if you’re in your 20s, you’re still young, so I think it’s perfectly fine to save more.
If you’re in your 30s, you might want to look into investing as well.
If you’re in your 40s, rather than simply saving, I think it’s better to put methods of growing your money into practice.
In any case, the point isn’t to spend recklessly. The important thing is figuring out how to grow your money.
Once you’re in your 50s or older, I think it’s probably fine to start spending a little more freely.
That said, everyone has their own way of living. Spending lots of money from a young age can also be a valuable experience in its own way.
I think the best approach is the one you feel comfortable with. So for now, you could continue as you are while researching other options.
Then, once you feel comfortable taking on the risks involved in investing and so on, you can consider investments or other methods.
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My name is Shingo Lee (Shingori), and I’m a male member.
I earn ¥150,000 a month from my skills as an office worker and ¥450,000 from my femininity. I have ¥10 million in savings.
I expect my income from my femininity to decline over time. I think it would be better to either develop skills that can increase my income as an office worker or spend money building connections and trust. Investing steadily in things like U.S. stock indexes to grow my savings could also be a good option.
There isn’t much value in simply “saving” money. I recommend trying both capital investment, which grows your money through stock investing, and human-capital investment, which enriches you through connections and experience.
I hope your life becomes even better.
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I’m Ayase Nana, a female member.
Saving money is your hobby? That’s wonderful.
Ten million yen still isn’t much—it’ll be gone in no time.
You wouldn’t even be able to buy the Maserati I like.
Aim for one billion yen. Even then, I think it still won’t be enough.
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I’m in Seattle.
It’s fine to keep saving until you reach ¥200 million.
Once you go over ¥200 million, though, you should start spending it—otherwise your heirs will be the ones celebrating.
And keep those savings secret from your boyfriend or husband. A hidden nest egg is important.
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I’m Chikuwa, a male member.
Saving money is a good thing. You might need it someday, or there may be something you want to spend it on, so keep saving until then. If you have money in a bank or brokerage account, the tax authorities may come after you, so you’ll also need enough to pay whatever they demand. Otherwise, you could end up stripped of everything and in serious trouble.
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I’m Kazu, a male member.
I think it’s far too early to worry that you’ll just save up around ¥10 million and then die without ever spending it. Having ¥10 million set aside could really help if something happens, so I don’t think you need to force yourself to spend it.
Personally, I think it’s better to invest your money rather than simply leave it in savings. It might be a good idea to diversify into low-risk, low-return investment trusts or foreign-currency deposits. You have nothing to lose by learning more about money.
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