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	<title>Foreigner&#039;s Finances &#187; Silver Week</title>
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	<description>Mapping the Money In Your Life</description>
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	<itunes:summary>Austin Morgan from the personal finance site ForeignersFinances.com talks money, travel, and everything between with a variety of guests.</itunes:summary>
	<itunes:author>Austin Morgan</itunes:author>
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		<itunes:name>Austin Morgan</itunes:name>
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	<managingEditor>austin@foreignersfinances.com (Austin Morgan)</managingEditor>
	<copyright>Copyright &#xA9; Foreigner&amp;#8217s Finances 2010</copyright>
	<itunes:subtitle>Mapping the Money In Your Life</itunes:subtitle>
	<itunes:keywords>personal finance, travel, Japan, life abroad, student loans, credit cards, investing,</itunes:keywords>
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		<title>The Downside of Excessive Savings for Japan</title>
		<link>http://www.foreignersfinances.com/the-downside-of-excessive-savings-for-japan/</link>
		<comments>http://www.foreignersfinances.com/the-downside-of-excessive-savings-for-japan/#comments</comments>
		<pubDate>Mon, 14 Sep 2009 11:41:27 +0000</pubDate>
		<dc:creator>Austin</dc:creator>
				<category><![CDATA[Japan]]></category>
		<category><![CDATA[Savings]]></category>
		<category><![CDATA[economy]]></category>
		<category><![CDATA[Silver Week]]></category>
		<category><![CDATA[Travel]]></category>

		<guid isPermaLink="false">http://www.foreignersfinances.com/?p=302</guid>
		<description><![CDATA[Japan is a closed culture. The people tend to stick to themselves and rarely speak out or do anything that would shed light on an individual. I once read a quote about the way Japanese people view the rights of an individual, &#8220;In America they say you have the right to free speech. In Japan, [...]]]></description>
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<p style="margin-bottom: 0in; text-align: center;"><a href="http://www.flickr.com/photos/tinou/334842339/"><img class="aligncenter size-full wp-image-319" title="334842339_50f51f4524" src="http://www.foreignersfinances.com/wp-content/uploads/2009/09/334842339_50f51f45241.jpg" alt="334842339_50f51f4524" width="500" height="333" /></a></p>
<p style="margin-bottom: 0in;">Japan is a closed culture. The people tend to stick to themselves and rarely speak out or do anything that would shed light on an individual. I once read a quote about the way Japanese people view the rights of an individual, &#8220;In America they say you have the right to free speech. In Japan, they say they have the right to silence.&#8221;</p>
<p style="margin-bottom: 0in;">Being conservative has had its disadvantages for the Japanese society as of late. The birth rate is declining and a lack of family time due to excessive work hours has plagued the economy. <strong>Japanese workers are also not using their paid work holidays and have too much money saved</strong>. A large percentage of the countries GDP is made up of spending, and with the Japanese not using their cash, the country struggles to progress.</p>
<p>Too much savings? How is this possible?</p>
<p><span id="more-302"></span></p>
<p style="margin-bottom: 0in;">According to Bloomberg.com, “Getting them to take all their time off would create 1.5 million jobs and pump 11.8 trillion yen a year into the economy”.<strong> That&#8217;s 130 billion dollars of money into the economy if the Japanese workers would just take some time off and relax.</strong></p>
<p style="margin-bottom: 0in;">To promote spending, the government stepped in and created Silver Week. A five day holiday from September 19-23, Silver Week will hopefully allow the Japanese people to get out of the office and open up their wallets.</p>
<p style="margin-bottom: 0in;">Their thinking works. With five days off I&#8217;m heading to Tokyo by bus. I&#8217;ll easily be throwing a couple of hundred dollars into the Japanese economy this weekend.</p>
<p style="margin-bottom: 0in;">The idea of a government promoting spending through free time is unique and shows that working fifty hours a week isn&#8217;t always the best way to achieve success.</p>
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