Credits: Social Media
Why you should try ‘Loud Budgeting’, the latest money-saving trend from TikTok
TikToks latest finance trend Loud Budgeting is quickly becoming the hot topic of 2024, as millions of Gen Z proudly scream I cant afford that from the rooftops.�
Last year, the internet was abuzz with the term quiet luxury, which was essentially new-age minimalism. It emphasised investing in things that, while expensive, were not frivolous and to be relegated to the back of the wardrobe. In retrospect, it was sort of pretentious.
2024 is the year of loud budgeting
Loud budgeting is quite literally the opposite of its 2023 sister and is all about unbridled honesty about your finances.
The term was seemingly coined by content creator Lukas Battle, who revealed its meaning in a TikTok late last year. Lukass initial post went positively viral, so he took to the platform once again with a detailed description of the concept.�
He explained at the time: Loud budgeting has the same feeling as sneaking candy into a movie theater. You feel like you got away with something. If you know any rich people, you know that they hate spending money. So its almost more chic, more stylish, more of a flex.
Further explaining the term to Buzzfeed, Lucas continued: It was meant to be a funny idea that allows people to be financially transparent without feeling embarrassed. I think being honest and realistic about money should be considered stylish and cool.
For instance, dont turn down dinner plans with a simple and unrevealing: I cant do tonight.
Instead, Lucas would suggest something more like: Sorry, cant go out to dinner, Ive got $7 a day to live on.
The theory behind it makes a lot of sense. Essentially, your complete honesty breaks down that shame over time. After all, most of us in some way experience financial hardship.
Finance experts seem to agree
While loud budgeting might seem like another silly internet term, experts in the world of finance have since stated that it has some legs.
Being loud can be empowering, Erica Sandberg, a personal finance expert, 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 community to achieve broader goals and cut down on impulse purchases.
How to do loud budgeting
Mastering the new trend is down to two simple steps. First of all, you have to be budgeting in some way. But lets be honest, you already are. Whether its stretching food over several meals, using coupons at the checkout, or skipping that Starbucks, you are budgeting to a degree.�
Similarly, financial educator Tiffany Aliche told Good Morning America: “Budgeting out loud, it’s not just the words, but also having these tools in place. It holds you accountable. But also, it allows the people that care about you to also hold you accountable.”
The second, and most crucial part, is to be brutally honest about it. Tell your friends, scream it from the rooftops, and chant it in the mirror until the ghost of Christmas future thanks you for your hard work.�
