Loud Budgeting is a new concept of saving money by avoiding those unnecessary expenses by means of openly expressing your financial constraints.
Concept of Loud budgeting is coined by TikTok creator Lukas Battle which has viral in social media.
If you are having dinner with your friends can you openly express your unwillingness to share the expenses due to your financial constraints. Or in the first place can you refuse to go for party with your friends expressing your financial problems. Most of the people can’t do this because of the social and peer pressure.
Essential this concept of loud budgeting is opposite to quite luxury.
As per wikipedia, Quiet luxury is a lifestyle characterized by understated elegance and refined consumption, emphasizing exclusivity and discerning taste without overt displays of wealth.Contrary to this, Loud budgeting, as the name suggests, refers to a financial strategy that involves openly discussing and communicating budgetary decisions.
The young generation is not shy of this expression and rather many of them priorities their expenses as per the needs and resources. They are unapologetic in their approach in the social gathering. Loud budgeting is healthy financial psychology and it gets you free from FOMO.
FOMO is abbreviation for “fear of missing out”: a worried feeling that you may miss exciting events that other people are going to or having something, especially caused by things you see on social media.
Loud budgeting, as the name suggests, refers to a financial strategy that involves openly discussing and communicating budgetary decisions.
Battle said in his original post. “It was meant to be a silly idea that allows people to be financially transparent without feeling embarrassed.
Loud budgeting is helping boost savings, as being vocal about financial constraints keeps them at the forefront of your mind, encouraging smarter spending choices.Loud budgeters who are willing to communicate their intentions around their money are taking a step in the right direction.
Taking an emotionally intelligent approach to financial planning involves recognizing money as a means to support a fulfilling lifestyle. This mindset, rooted in self-awareness, shifts the focus from simply accumulating wealth to ensuring that you have enough to optimize the time spent on activities that bring joy. After identifying your priorities, the objective is no longer solely about maximizing income but rather making sufficient money to enhance the moments spent pursuing meaningful endeavors.
Once this perspective is embraced, it becomes easier to decline social invitations or adhere to a budget, especially when you’re mindful that these financial decisions align with more significant goals—such as purchasing a home, starting a family, or achieving other future aspirations.
