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Topic : TikTok's Loud Budgeting Trend Is What Your Wallet Needs In 2024, Say Financial Experts
2024호 2면
 
TITLE : TikTok's Loud Budgeting Trend Is What Your Wallet Needs In 2024, Say Financial Experts

TikTok's Loud Budgeting Trend Is What Your Wallet Needs In 2024, Say Financial Experts
 



TikTok's loud budgeting trend is what your wallet needs in 2024, say  financial experts

 

 

It's a way to "take back one's power around financial values and goals."


If 2023 was the year of quiet luxury, where financial status was only revealed through the quality of one’s cashmere, 2024 is taking a swing in the opposite direction. If you’ve scrolled TikTok recently, you’ve likely seen a plethora of videos all around the same topic: loud budgeting.


Loud budgeting is all about being unabashed with your financial goals and constraints. It’s telling people in your life, "No, I don’t want to spend $500 on your seven-course birthday brunch when I could make you a better meal at home for $30," and feeling zero shame around that statement.

 

The creator of the TikTok trend, comedian and writer Lukas Battle, explained that loud budgeting is not telling people you don’t have the money to spend, but clarifying which activities you perceive to be worth your pennies. Basically, it's being upfront about your financial boundaries—an idea endorsed by financial experts.

 

"It's about time there's disruption happening in the social media sphere where now millennials and Gen Z folks are taking control of their personal finances and saying no to the pressures of bottomless spending and materialism to look good among peers," says financial therapist Thomas Faupl. Ultimately, he explains, loud budgeting is a way to "take back one's power around financial values and goals."

 

Brent Reinhard, General Manager of Chase Freedom, agrees that "the loud budgeting trend is great for anyone who wants to get serious about financial wellness," especially for "younger generations dealing with rising living costs and higher home prices."

 

 

Source: https://www.womenshealthmag.com/life/a46661837/loud-budgeting-trend-tiktok/

 

Comprehension

In what year did the concept of quiet luxury become popular, and how does 2024 differ from it?
What is the main idea of the TikTok trend called "loud budgeting"?
How does Lukas Battle describe the concept of loud budgeting?
According to the article, what is the goal of loud budgeting?
Who is Thomas Faupl, and what does he say about loud budgeting?
How does loud budgeting relate to taking back one's power around financial values and goals?
Who agrees that loud budgeting is beneficial for financial wellness, and for which generations?
How does the rising cost of living and home prices affect younger generations, and how does loud budgeting help them?

Discussion

In your opinion, is loud budgeting a good or bad thing? Why?
How does loud budgeting compare to quiet luxury?
Do you think loud budgeting is a trend that will continue to grow in popularity? Why or why not?
How can loud budgeting help people to take control of their finances?
How does loud budgeting relate to the pressures of materialism and bottomless spending?
In what ways can loud budgeting help younger generations to manage their finances more effectively?
How can loud budgeting help to reduce financial stress and anxiety?
How can loud budgeting be used to promote financial literacy and responsibility?
What are some challenges you face when it comes to budgeting?
What are some strategies for reducing expenses and saving money?
How can you motivate yourself to stick to a budget?

Vocabulary

Disruption - a significant change that interrupts the usual way of doing things
Millennials - people born between 1981 and 1996
Gen Z - people born between 1997 and 2012
Bottomless spending - excessive spending without regard for one's financial limits
Materialism - a focus on acquiring and possessing material goods
Perceive - to see or understand something in a particular way
Endorse - to support or approve of something
Disruption - a significant change that interrupts the usual way of doing things