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."