Where did Loud Budgeting go?<\/h2>\n
Back in 2024, around this time, a social media trend called \u201cLoud Budgeting\u201d took off.<\/p>\n
Just one year later, I wonder where did all that hype go?<\/p>\n
The very simple idea here is to provide a tactic to empower more people to be more comfortable about speaking up about their financial goals \u2013 out loud with others \u2013 what they are focused on and by doing so, what they are not doing as a consequence.<\/em><\/p>\n Here is an example:\u00a0<\/p>\n Your friend wants to go out to dinner this week but you don\u2019t really want to go<\/em><\/strong> because you\u2019re trying to kill your mortgage debt. Sure, you don\u2019t want to miss seeing your friend but at the same time, you don\u2019t want to stretch your wallet too much either; you\u2019d rather stick to your budget in support of your bigger financial goals \u2013 and so you tell them \u201cno\u201d or suggest a less expensive alternative.<\/p>\n<\/blockquote>\n All well and good.\u00a0<\/p>\n In an example from TikToker Lucas Battle last year<\/a>, who has been credited with coining this term, this isn\u2019t just about declining a dinner date but instead adding the important qualifier with a why in your reply:<\/p>\n \u201cSorry, can\u2019t go out to dinner, I\u2019ve got $7 a day to live on.\u201d<\/em><\/p>\n<\/blockquote>\n Loud budgeting not only helps describe what personal saving or investing goals might be, but also how<\/em> you feel about it, in a transparent way.<\/p>\n To frame the emotional side from CNBC:<\/p>\n \u201cThe words you use to describe what you feel as it relates to your savings and spending and investing and borrowing and all other forms of financial activity \u2014 that\u2019s a different skillset altogether, and one that we are even more lacking in\u201d \u2013 CNBC.<\/em><\/p>\n<\/blockquote>\n Before social media, GenZ might be aware that GenX (my cohort) just said this and still do:<\/p>\n \u201cI can\u2019t afford it\u201d<\/em><\/p>\n or<\/p>\n \u201cSorry, not now, I\u2019ve got other priorities at the moment\u201d. \u00a0<\/em><\/p>\n<\/blockquote>\n I\u2019ve used these replies many times in the past and I continue to use them where necessary.\u00a0<\/p>\n I didn\u2019t call it loud budgeting, then, it was just my way of managing my finite cashflow.<\/p>\n I guess I\u2019ve used this blog in part to share some elements of loud budgeting over the last 15-years but I also confess I never really had a budget per se.<\/p>\n Instead, I\u2019ve always focused on a system that forecasts cashflow and ensures our spending patterns are matching our needs and values. It\u2019s a very simple spreadsheet with essentially four columns:<\/p>\n That\u2019s it \u2013 focusing on things that matter and largely in my control.<\/p>\n Source: Behavior Gap.<\/em><\/p>\n Besides, the word \u201cbudget\u201d can be a trigger word for many. It could imply to some there are just too many constraints in their life \u2013 which could create more anxiety or stress. Trama is not good for the soul.\u00a0<\/p>\n A year ago I wrote about this concept on my site and why this approach could still work for you:<\/a><\/p>\n Weekend Reading \u2013 Could Loud Budgeting Work for You?<\/a><\/p>\n<\/blockquote>\n\n
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