In the online world, anything can blow up in seconds. We see new trends and challenges come and go all the time, but this time, there's one sticking around—'Loud Budgeting.’ It’s a completely new and unique approach to handling one’s finances. No, it is not just another random attention-gaining, money-saving hack. This one might actually help you get better with your finances. In fact, this trend has actually become a big hit with Gen Z. The term was coined by writer and comedian Lukas Battle, who started the simple trend with a TikTok post. So, what exactly is 'Loud Budgeting?' Here’s how this viral trend can actually help your wallet. What is JOMO? Know All About the Viral TikTok Trend That’s Antidote to FOMO.

What is Loud Budgeting?

If you’ve been silently struggling with your finances, having to ditch family and friends each time either due to last-minute plans or just avoiding plans in general, the viral, loud budgeting trend encourages you to speak up about your financial situation. 'Loud Budgeting' is about confidently saying ‘no’ to people or things without having to feel guilty or pressured about them. Instead of living a picture-perfect lifestyle on social media, which is probably far from reality, the trend is all about embracing your reality, being open about your finances, and prioritising your financial well-being without being shamed for it. According to Lukas, it’s not about not having enough. It is about not wanting to spend.

How Is Loud Budgeting Beneficial?

What was supposed to be a funny idea or just another passing trend is actually freeing people from the burden or pressure of having to spend too much. For too long, people have been trying too hard to keep up with influencers and celebrities. Unfortunately, this is not sustainable in the long run. It is of utmost importance for people to practice moderation when spending and focus on their financial priorities. The trend is helping people take accountability for their finances. This trend seems to have come at the right time, like an answered prayer. It is helping more people save money for the future, and they are even inspiring others to hop onto the trend.

Loud budgeting is a great way for people to deal with FOMO. When people are open about their financial standing and goals, they are more likely to save money rather than spend it on trendy yet fleeting items. This shift in thinking is making people financially smart and allowing them to make smarter choices that align with their priorities, in turn improving their financial well-being.

(The above story first appeared on LatestLY on Feb 02, 2024 08:57 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website