Read Time: 4-minutes
Happy Saturday,
Here is this week’s edition of 6-Point Saturday — financial insights to help you make smarter money decisions.
Table of Contents*
*Clickable in the online version.
Point #1 — Your Money & The Art of ‘Zanshin’
“In the 1920s, a German man named Eugen Herrigel moved to Japan and began training in Kyudo, the Japanese martial art of archery.
Herrigel was taught by a legendary Kyudo master named Awa Kenzo. Kenzo was convinced that beginners should master the fundamentals of archery before attempting to shoot at a real target and he took this method to the extreme. For the first four years, Herrigel was only allowed to shoot at a roll of straw just seven feet away.
When he was finally allowed to shoot at targets on the far end of the practice hall, Herrigel’s performance was dismal. The arrows flew off course and he became more discouraged with each wayward shot. Herrigel was convinced his problem was poor aim, but Kenzo replied that it was not whether you aimed, but how you approached your goal that determined the outcome. Frustrated with his teacher, Herrigel blurted out, ‘Then you ought to be able to hit it blindfolded.’
Kenzo paused for a moment and then said, ‘Come to see me this evening.’
After night had fallen, the two men returned to the courtyard where the practice hall was located. Kenzo walked over to his normal shooting location with the target hidden somewhere out in the night. The archery master settled into his firing stance, drew the bow string tight, and released the first arrow into the darkness of the courtyard. Herrigel would later write, ‘I knew from the sound that it had hit the target...’
Immediately, Kenzo drew a second arrow and again fired into the night. Herrigel jumped up and ran across the courtyard to inspect the target. In his book, Zen in the Art of Archery, Herrigel wrote, ‘When I switched on the light over the target stand, I discovered to my amazement that the first arrow was lodged full in the middle of the black, while the second arrow had splintered the butt of the first and ploughed through the shaft before embedding itself beside it.’”
The master archer could hit the target “blindfolded” because he had developed such a high degree of self-awareness.
Clear continues:
“This complete awareness of the body and mind in relation to the goal is known as zanshin. Zanshin is a word used commonly throughout Japanese martial arts to refer to a state of relaxed alertness. Literally translated, zanshin means “the mind with no remainder.” In other words, the mind completely focused on action and fixated on the task at hand. Zanshin is being constantly aware of your body, mind, and surroundings without stressing yourself. It is an effortless vigilance.”
It’s often said that personal finance is more personal than it is finance…
That’s because we each have our own beliefs, values, histories, and goals that impact our financial behavior. We also have unique weaknesses, blind spots, and vulnerabilities.
The key, like the master archer, is to understand yourself so well that you can avoid your weaknesses and maximize your strengths.
It’s gleaning your patterns, behaviors, and triggers—without judgement.
So, let's look at a 3-step exercise to gain self-awareness so that you can easily hit your financial targets.
Point #2 — The 3-Step Financial Self-Awareness Exercise
Retrieve → Reflect → Resolve
1. Retrieve: Pull Your Data
The first step is to review your past actions. Simply take a few minutes to look through your past few financial statements showing your spending.
If your bank or credit card’s online reporting doesn’t offer a categorization feature, or if it’s not detailed enough, consider experimenting with a popular, low-cost tracking tool like Monarch Money or YNAB (no affiliation).
2. Reflect: Find Your Patterns
Now look at your "Impulse" transactions. This is where the real learning happens.
Ask yourself:
What times of day do I spend unconsciously? (Sunday afternoons? After work? Late at night scrolling?)
What emotional states trigger spending? (Bored? Stressed? Celebrating? Tired?)
What situations consistently drain my money? (Target runs? Happy hours with certain friends? Work travel? Instagram ads?)
You're looking for your top 3 impulse “triggers,” the specific, recurring situations that consistently lead to unplanned spending.
Then give it a label, the more specific, the better:
❌ "I overspend on the weekends."
✅ "The Sunday Boredom Target Run"
❌ "I spend when stressed."
✅ "The Post-Difficult-Client-Call Amazon Scroll"
❌ "Social pressure"
✅ "Last-Minute Weekend Getaway Invites"
The more specific the name, the easier it is to recognize when you’re in the moment. This is the level of self-awareness that drives real change.
3. Resolve: Decide on a “Implementation Intention”
Pick your #1 trigger, the most costly or most frequent, and create what’s called an “Implementation Intention” (More in Point #4). In other words, a specific if-then plan:
If [trigger situation], then I will [specific alternative action].
Examples:
"If I'm tempted to go to Target on Sunday afternoon, I will review my long-term goals first."
"If I feel the urge to browse Amazon after a difficult client call, I will take a 10-minute walk."
“If my friends invite me to a last-minute weekend getaway, I’ll sleep on it before deciding.”
The goal is to insert awareness between the trigger and the action. “If-then plans” prime you to be ready, and once you're prepared, you can make better decisions.
Your Move: Consider blocking 20 to 30 minutes this week to complete this exercise. Pull your statements. Find your patterns. Name your triggers. Make one implementation intention.
Point #3 — “I spent way more than I wanted…”
“I kind of messed up this Black Friday. I didn’t buy anything huge but a lot of small things. I realised I spent way more than I wanted to.
I’m usually okay with budgeting, but impulse deals really get me. I want to learn how to plan my spending better so this doesn’t happen every time there’s a sale or some “limited offer”.
How do you guys stop yourselves from buying random little things?”
This is a great example of financial self-awareness. This individual has gone through Steps 1 and 2 from the 3-Step exercise: they've reviewed their spending (Black Friday damage) and reflected on their patterns ('impulse deals really get me').
They even started naming their trigger: sales and 'limited offers.'
They're a bit stuck on Step 3, so here’s what I’d recommend:
Remove or Limit the Temptations: If you know that deals tend to be irresistible, consider removing them at their source: Turn off app notifications, unsubscribe from emails, etc. Adding a little distance goes a long way. Plus, when you’re actually ready to make a purchase, you can always search for deals then.
Set a “Cooling-Off” Period: Make a personal guideline that for any unplanned purchase, you give yourself 24 hours to consider whether it’s a purchase you’ll feel good about — both in the moment and in the long run. To turn this into an implementation intention, they could say: "If I see a 'Limited Time Offer' email or sale banner, I'll schedule an email to myself with the link, set to arrive in 24 hours."
Finally, don’t be too hard on yourself about making any necessary returns. Self-awareness is a process that you can improve at at over time.
Point #4 — Do “Implementation Intentions” Actually Work?
In 2001, British researchers studied 248 people building exercise habits [Milne, Sarah, et al, 2001]. They divided them into three groups:
Group 1: Tracked workouts.
Group 2: Tracked workouts AND received motivational material about exercise benefits.
Group 3: Got the same motivation as Group 2, but also completed an Implementation Intention: "During the next week, I will partake in at least 20 minutes of vigorous exercise on [DAY] at [TIME] in [PLACE]."
The results: Groups 1 and 2 both had 35-38% exercise at least once. Motivation changed results only nominally.
Group 3? 91% exercised. More than double.
Bottom Line: If you think you need more willpower or discipline, simply consider experimenting with a new implementation intention.
Point #5 — Quotes of the Week
Continuing the “Self-Awareness” theme, which of these is your favorite?
Point #6 — My Question of the Week
What’s your biggest strength when it comes to your finances (e.g., naturally frugal, high earner, disciplined saver)? Your biggest weakness to protect against (e.g., impulse buyer, anxious investor, avoid tracking spending)?
Reply to let me know! I read every response.
Thanks for reading — I hope you found a helpful idea or two.
I’ll see you in two Saturdays (January 3rd) after a pause for the holidays.
Happy holidays,
Benjamin Daniel, CFP®
Founder, Money Wisdom
P.S. Want to take control of your money, stop stressing about your expenses, & feel confident about your financial future? There are 2 ways I can help you:
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Disclaimer:
This material is not investment or tax advice. No responsibility for loss occasioned to any person or corporate body acting or refraining to act as a result of reading this material can be accepted by the publisher.
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