Credits: Social Media
I was ‘Loud Budgeting’ long before the TikTok trend, there’s no need to keep finances secret
Finances are the talk of TikTok this month and saving has become ‘cool’ in 2024. It’s all thanks to a trend called ‘Loud Budgeting’, which is something I’ve already been doing for years.
The idea has gone viral on social media as people aim to be smarter with their money and not fall into the spending peer pressure – and being savvy with your money can bring huge rewards.
What is ‘Loud Budgeting’?
Loud Budgeting is being open and vocal about your finances and telling the people around you that you want to save money. It’s all about admitting that you don’t want to spend instead of going along with the crowd and doing it because everyone else is.
The concept was coined by a TikTok user called Lukas Battle in December 2023 who described it as the “opposite of quiet luxury,” another trend which involves spending money without overtly displaying your wealth.
He said that if your friend wants to hang out, you should say “I don’t want to spend gas money on coming to you to hear you talking about your ex for three hours,” which will leave you feeling accomplished.
However, that doesn’t necessarily have mean you’re broke. Battle explained: “Its not ‘I dont have enough.’ Its ‘I dont want to spend’.”
I’ve been ‘Loud Budgeting’ for years
Without even knowing it, I’ve been Loud Budgeting long before it was a viral TikTok trend – and I think it’s a great thing.
If I go to a bar with a friend and they’re all ordering $15 cocktails and I’m trying to save, I’ll order a $3 Coca-Cola.
When I’m out for dinner and I only ordered fries when everyone else ate a whole steak, we’re not splitting the bill evenly.
That doesn’t mean I’m tight – I’m just savvy with my finances and not afraid to tell people that I’m budgeting.
I’ve always been a keen saver, and not spending those extra pennies has brought huge rewards, like buying my first property in my early 20s.
No need to keep finances secret
What is the point in keeping your finances secret anyway? We shouldn’t feel pressured to spend money where we don’t want to.
Being transparent about your finances is fine, and totally not embarrassing. Come on, it’s 2024 – money isn’t a taboo!
It makes you financially responsible, which is a great thing, and being loud about your budgeting is actually pretty empowering.
Erica Sandberg, personal finance expert at CardRates.com, told CNBC: “With this process, you become proud that you bring a bag lunch, make your own coffee, or take the bus.”
“Not only can consumers find commonality with budgeting concerns, they can also find the community to achieve broader goals and cut down on impulse purchases,” she continued.
Start Loud Budgeting too. You won’t regret it!
