'Loud Budgeting' Trend on TikTok Encourages Frugality and Openness About Finances
The viral trend is helping young adults save money by prioritizing financial goals, setting spending boundaries, and rejecting overconsumption.
- 'Loud budgeting' is a viral trend on TikTok where users openly discuss their financial goals and frugal lifestyle choices.
- The trend is a reaction to the 'quiet luxury' trend of 2023, and is about prioritizing financial goals and setting boundaries on spending.
- Loud budgeters are reducing small and large expenses, and saying 'no' to social invitations that come with a cost.
- The trend is empowering for many, as it allows them to live within their means and reject overconsumption and consumer debt.
- A survey by NAB Bank found that Australians under 30 are saving an average of 450 Australian dollars, or about $300, every month by embracing loud budgeting.