Have you heard about "loud budgeting"? This screamy new finance trend's hashtag has around 10 million views on TikTok! 📢😱
Loud budgeting is creating quite a buzz. 🐝 Experts say this new trend could help folks cut back on unnecessary spending and be smarter about their finances. Wondering if you should get on board? Find out right here! 👇
Here’s Five Fast Facts on the loud budgeting trend:
- 🙆 Loud and Proud - Loud budgeting is the opposite of quiet luxury, a trend we reported on a little while back. The point? Loud budgeters are transparent and upfront with everyone about what they are and aren't willing to spend money on.
- 💵 Money Matters - Experts say loud budgeters show financial and emotional literacy, both of which are key skills in good money management. Unlike the older generations who tend to keep financial matters close to the vest, younger generations seem more willing to share their intentions around money.
- ✅ A Little Reminder - People aren't just using their words to budget loudly, they're also getting creative in other ways. For example, one woman put a "deactivation sticker" on her credit card to make her stop and think before making a purchase. The sticker is a physical reminder of her larger savings goals and helps her curb spending.
- 🤐 Don't Cross the Line - So how loud should you be? Experts say oversharing specific numbers in a way that makes you seem really broke or in need makes people feel uncomfortable. There's a fine line between being transparent and giving up a little too much personal information.
- 👎 I'll Pass - The next time you're invited out but need to decline for financial reasons, try putting loud budgeting to work. There's no shame in telling your friends you don't want to spend money on an expensive outing if you can't afford it. Better yet, offer up some cheaper alternative suggestions and see if the group bites.
🔥Bottom line: There's a stigma around admitting you can't afford something, but the loud budgeting trend shows the tide might be turning. The less shame we have around our money issues the better. So many of us are all in the same boat! Do you know how much it costs to raise a family? Find out here.
Would you try loud budgeting?
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