What is loud budgeting? Who started loud budgeting, and why would you want to do it? Plus the one thing to be very careful about if you want to start talking more about your money.
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What Is Loud Budgeting?
Loud Budgeting is about openly discussing and sharing information related to budgeting, savings goals, and personal finance.
The point of Loud Budgeting is to foster a more transparent and informed financial community.
With Loud Budgeting, people openly discuss and share information about their budgeting and money goals.
This approach encourages transparency and open conversations about financial goals.
Loud budgeters are helping to reduce stigma and increase financial literacy.
If you are new to budgeting, check out How to create a monthly budget: easy steps to get control of your money.
Who Started Loud Budgeting?
This guy, TikTok creator Lukas Battle:
A post the author and comedian made on TikTok went viral and now Good Morning America and other big outlets are picking up on it.
Like many social media trends, while it is a new trend, it’s not a new concept.
A lot of people, especially younger people, don’t want to hear financial strategy only from financial advisors or personal-finance experts.
The financial trend of Loud Budgeting gives the everyday person a voice to talk about financial struggles and money management.
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Loud Budgeting and the Quiet Luxury Trend
Loud Budgeting is the opposite of quiet luxury.
While there will always be a market for luxury goods, the increasing cost of living is putting strain on a lot of people.
Incomes are not keeping up.
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Instead of going out for an expensive dinner, more Gen Z’ers are choosing grocery shopping, home cooking, and a cozy night in.
While not exactly a new approach, what is different is more young adults talking about financial status and healthy management of their money.
Is Loud Budgeting the Same as Loud Money?
The idea behind “Loud Money” is to break down the taboo associated with discussing money matters and promote a more open dialogue about budgeting, saving, and investing.
By sharing experiences and strategies, individuals can learn from each other and build a supportive community focused on financial well-being.
It’s a big part of the reason I started The Curious Frugal.
I have always liked talking about money and saving money.
I wanted to break down the taboo of talking about money, and debt, and retirement savings, and investments, and all that interesting stuff.
Related post: How Much Money Should You Save For an Emergency Fund.
Whether we like it or not, or whatever our money situation is currently, money is a big part of our lives.
If this was the 6th Century sub-Saharan Africa, we could use salt as a currency.
But for now, we trade money for time and goods. Being aware of where our money is coming from and going gives us more power.
Speaking up for your budget is a form of self-confidence and self-care.
Being able to say no to spending money on the things that aren’t important to you makes a big statement for what you value.
Where you spend your money and your time is where you spend your life.
It’s important stuff.
Related post: 5 Best Budgeting Tools You Need if You’re Bad with Money.
Be Careful with Loud Budgeting
While I think it’s a positive step to destigmatize money talk, there is one thing we should all be careful about:
Beware of oversharing.
Not because you’ll lose followers.
Not because you’ll attract haters.
(Both of those things could happen, but neither should be a reason to do/not do something.)
Be careful about oversharing your money situation for your own protection online.
If you post actual numbers, everyone online can see them.
Sounds obvious, but this means not just people who want to learn from you and follow along, but also people who might have bad intent.
The more personal information you share can leave you open to hackers.
There is another less obvious reason to be cautious about sharing all your money decisions.
Sharing your financial goals can actually make you less likely to achieve them (reference).
For budgeting tips check out:
- 15 Best Budgeting Books You NEED to Read Now, and
- The Best Budgeting Apps for 2024 to Manage your Money
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