Personal finance FinTok trend encourages being open, transparent, and ‘loud’ about money and goals
By Melissa Jackson
Have you ever overspent or gotten into debt due to the ‘fear of missing out’ (FOMO) or trying to keep up with the Jones’s? If so, the FinTok trend of ‘Loud Budgeting’ might be just the thing to help improve your personal finances. Rather than creating an appearance of wealth and luxury on social media, loud budgeting encourages being open, honest, and ‘loud’ about budgeting and savings goals. By encouraging followers to be honest about their spending, the trend can help avoid the pitfalls of social media splurging. So whether you’ve heard of it or not, we’ve got some details on the trend and tips for using it yourself.
The Pressure of Social Media on Spending & Credit Card Bills
What is Loud Budgeting?
Loud budgeting is a strategy to make your financial goals and plans more visible, vocal, and actionable. The trend encourages followers to be honest and direct about their financial limits and boundaries. For example, rather than going into debt or leaving bills unpaid to attend a pricey event or extravagant outing, the followers of Loud Budgeting would respond in an honest and direct way, “Sorry, I can’t afford to spend money on that,” or “That’s not in my budget right now”. This approach encourages individuals to be more transparent about their financial situation, share their goals with others, and hold themselves accountable through public sharing and posts.
Being ‘loud’ about budgeting not only removes the secrecy and shame around financial struggles but also makes topics like living according to a budget and financial goal setting public knowledge that anyone can use to improve their finances.
It might seem counter-intuitive to use a social media trend to save money when so many of them feature seemingly perfect vacations, luxuries, and other lavish purchases. But in this case, social media can be used to share your successes and stumbling blocks, reach out for advice, and stay accountable to more than just yourself.
Financial Problems that Follow Social Media & How to Avoid Them
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