Loud Budgeting: How a TikTok trend got supported by the experts
The new trend encourages people to be more open about their financial goals and spending limits
The latest trend to make it in the social media world this year is Loud Budgeting, and it's perhaps the first time a trend can actually help people.
Loud budgeting encourages people to be open about monetary goals with friends and family, and rejecting societal pressure to spend.
Originally coined by Lukas Battle, a 26-year-old TikTok creator, it is a response to 2023s "quiet luxury" trend which encouraged understated elegance, often through expensive purchases that don't seem opulent at first glance.
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His post explaining the concept has garnered more than 1.4 million views on the social-media platform.
The new trend encourages people to be more open about their financial goals and spending limits. It involves openly stating why you might choose not to spend money, even if you have it.
"It represents a move toward transparency and community in financial management," Shawna Martin, CEO of Seedling Coach told CNet. And that's crucial for demystifying budgeting, debt repayment and saving, she said.
Keeping up with social media trends can be costly, and being influenced into lavish or unnecessary spending has become all too common. There is a tendency for people to simply copy what others are doing without realising that whatever trend they are following may not apply to their personal situation.
One of the key benefits of this new trend however, is that it normalises good financial management, sticking to a set budget and seeking more long term financial goals. It helps prevent people from trying to promote a sense of false prosperity and instead achieve that prosperity.
