Managing your finances and keeping track of your spending can easily become an overwhelming task, especially as doom spending becomes the norm and every social media app is overwhelmed with advertisements.
But in an effort to meet some of our budget goals in 2024, some TikTokers have dubbed it the year of "loud budgeting." Though older generations emphasized making your financial moves quietly and remaining mum about your salary, this new trend is all about being vocal about your financial goals.
"Loud budgeting" encourages you to be upfront about your savings goals with your friends.
The term "loud budgeting" was coined by Lukas Battle (@lukasbattle) on TikTok. In a video posted just before the new year, Lukas explained his reasoning behind this trend.
"It's the opposite of quiet luxury," he said. "Loud budgeting has the same feeling as sneaking candy into a movie theater — you feel like you got away with something, you feel like you're on an adventure, you feel like you're coming out of the situation winning. It's not 'I don't have enough,' it's 'I don't want to spend.'"
Instead of dodging plans and feining schedule conflicts, "loud budgeting" is focused on being upfront with your friends when you don't want to invest the money in something.
"So if your friend texts you 'I want to hang out,' you say 'I don't want to spend gas money on coming to you to hear you talk about your ex for three hours,'" he said as an example. And while that may be a bit harsh, the reasoning stands.
Fellow creator Libby Brooks (@libbybonthelabel) shared some of her own responses to friends' potential requests for her to spend money.
"Oh sorry, I can't, I don't want to spend $100 going out to dinner with you when I could put $100 in my high-yield savings account," she said as an example. "I can't spend $250 on boots this season because I'm saving up for my really high-priority savings goals."
"Don't be afraid to tell people that you don't want to spend money on something because you're trying to work on one of your savings goals," Libby emphasized.
Some commenters pointed out they've "loud budgeting" for years.
Though sharing your budgeting goals with friends may be new for some, those who have known financial struggles for much of their lives don't find this concept unfamiliar.
"I've been loud budgeting my whole life and that's on growing up poor," one person commented on Lukas's original video.
"Bro reinvented couponing," another wrote.
This trend is also indicative of the rough economic times, with most people struggling to make ends meet — even on salaries that seem like they would be enough.
"This is so recession core," one user jokingly commented.
In Lukas's original video, he also emphasized that this isn't just about saving money — it's about intentionally choosing where you invest your funds.
"Let's send a message to corporations about the national inflation level," he said. "Let's take a stand. Also while quiet luxury is about idolizing celebrities, loud budgeting is about the everyday person, the average Joe."