S M K I N I H O N G O

ECONOMIC DAILY LIFE

Isnin, 9 September 2013 • 9:54 PTG • 0 comments

Japan is very cash oriented. Coins and banknotes account for 15 percent of national income compared to 6 percent in Germany and 3.5 percent in the United States.

Credit cards are not as common in Japan as they are in United States. Japanese walk around with large amounts of cash and pay for most things with cash. Before making a large purchase, they are more likely to run to an ATM machine than use a credit card. ATM machines dispense up to $30,000 in yen.

Japanese housewives have traditionally controlled the family's finances. They are careful shoppers and like things fresh. They look out for bargains like everyone else but don’t go in for buying things in large quantities like Americans, partly because they don’t have room in their relatively small houses for a lot of stuff. Women are also some of Japan's most active investors.

There are almost no checking accounts or paychecks in Japan. Most people get paid though bank transfers to their bank savings accounts and pay bills by making money transfers at a bank, post office or convenience store that cost as much as $5 each. Instead of waiting in line at a bank, most people give their money or papers to receptionist and then sit and relax on a couch until the transaction is finished and are called to a window.

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