Are You Doing 'Loud Budgeting' in 2024? See What This Trend Means for Your Money

One of the hottest TikTok personal finance trends of 2024 is a new concept called "loud budgeting." This idea was invented by TikTok comedian Lukas Battle, who proposed it as a new rallying cry for Gen Zers who are tired of being overextended financially.

Loud budgeting is a declaration of financial independence and an assertion of healthy boundaries around your money. There are good reasons why this concept has captured millions of people's attention so quickly -- loud budgeting is a brilliant way to think about your everyday spending.

Let's look at a few insights about loud budgeting and how it can help you save more money in 2024.

1. Loud budgeting is about declaring financial freedom

We're living in an era when people sometimes feel like they have to keep spending money no matter what, as if spending money is inevitable and irresistible. Some people have even started "doom spending" as a form of stress relief. But the truth is, we all have choices about how we spend our money (and how we spend our time, which is often another means of showing how we value money).

The loud budgeting trend is about clearly stating your intentions for how you want to spend your money (or not). Instead of buying something that you see on Instagram or going out for overpriced drinks with casual friends that sometimes feel more like "frenemies," loud budgeting lets you say "no, I'm not spending money on that."

2. Loud budgeting is egalitarian and inclusive

Lukas Battle created his loud budgeting idea as an antidote to the "quiet luxury" trend. Quiet luxury is a recent popular fashion trend that emphasizes understated elegance -- but still often focuses on incredibly wealthy celebrities who can afford to spend thousands of dollars on "understated" outfits.

Instead of worshiping celebrities and trying to emulate their fashion cues, loud budgeting is about the Common Man (or Common Woman, or Common Person)! Instead of propping up expensive designer clothes and luxury handbags as the pinnacle of human experience, instead of fixating on famous people as if their lives are the only ones that matter, loud budgeting is about forming real human relationships and saving money in creative ways.

Loud budgeting could send a powerful message to corporations, that "we're not buying your overpriced stuff anymore." Could frugality become the next big fashion trend?

3. Loud budgeting helps you set better priorities

For the past few years, Gen Z has been hit hard by high inflation and high housing costs. Many Gen Zers have a gloomy sense that they might never be able to retire or achieve other traditional milestones of adulthood. Loud budgeting can be a way to step back from the noise and clutter of everyday life in American capitalism, and say "no thanks."

If you're feeling overburdened by credit card debt and underpaid at your job, loud budgeting gives you permission to say "I'm not buying that" or "I want to put my time, money, and energy into other goals." Taking a break from spending money with "no-spend days" or other savings challenges can also help you regain clarity on what you really want to do with your money. Ultimately, loud budgeting could help you get a stronger sense of purpose for what you really want to accomplish with your personal finances.

Bottom line

In a time of high inflation, global economic uncertainty, and lingering stress, grief, and trauma from the pandemic, many Americans are re-evaluating their financial priorities. Loud budgeting could be helpful for many people, especially the 41% of Americans who have less than $500 of savings. Getting clarity about how you want to use your money -- and speaking up about it -- can help you achieve a higher level of financial wellness.