Loud budgeting is about telling everyone you're trying to save money | CBC News (2024)


Social media users are being more vocal about their finances and budgeting online. Some describe it as a way to hold themselves accountable and feel empowered about money.

With prices rising, being transparent about spending is top of mind for many Canadians

Loud budgeting is about telling everyone you're trying to save money | CBC News (1)

Brock Wilson · CBC News


Loud budgeting is about telling everyone you're trying to save money | CBC News (2)

Move over "girl math" and "quiet luxury," a new personal finance trend is taking off on TikTok.

Social media users are embracing"loud budgeting," a concept that went viral after TikToker Lukas Battlementioned it as something he's starting in 2024.

Now, just three weeks into the year, #loudbudgeting has more than 10 million views on TikTok.

What is loud budgeting?

Much like the name implies, loud budgeting is a financial strategy that emphasizes being vocal about your expenses and financial situation. Financial accountability, if you will.

"It's not 'I don't have enough,' it's 'I don't want to spend,'" said Battle in his video explanation.He describes it as "the opposite of quiet luxury," referring to a social media trend last year that involved a more subtle expression of your wealth through high-quality products that didn't feature logos.

"[Loud budgeting] is all about talking about your personal finance and ensuring that you are advocating for yourself, especially in situations where sometimes you may not be an avid advocate," said Zainab Williams, acertified financial planner with Elleverity Wealth Management.

The concept is taking holdat a time when rising costs are top of mind for many Canadians.

  • Gasoline prices help drive inflation up to 3.4%

Canada's annual inflation rate jumpedto 3.4 per cent in December,according to data from Statistics Canadareleased earlier this month.Airfares, fuel, passenger vehicles and rent were some of the key contributors to the increase. The report also found that prices for food purchased from stores rose4.7 per cent compared to the same time last year.

WATCH | Loblaw to reinstate 50 per cent discount after 'feedback':

Loud budgeting is about telling everyone you're trying to save money | CBC News (3)

Loblaw to reinstate 50 per cent discount after ‘feedback’

7 days ago

Duration 1:58

After backlash from shoppers, Loblaw says it will return to discounting products by 50 per cent when they’re about to expire. The company said it ‘listened to the feedback from our customers and colleagues’ after revealing last week the discount would drop to 30 per cent.

And while the trend of tighter budgetingand meeting financial goals is resonating with a lot of young people as something new, for some, it's an established way of life already.

Thephilosophy is something that's been a longtime habit for Reilly O'Connor, a Canadiancontent creator. O'Connor who's also an early childhood educator, has multiple videos on social media describing what she calls a "realistic day in the life," where she highlights things like budgeting and affording what she calls "basic living means."

"We don't get paid enough ... so we just automatically have to make cuts and costs," said O'Connor.

Couponing, finding deals while grocery shopping, eating out at restaurants less and cancelling her gym membership are just some examples of budgeting O'Connor said she's been vocal about on her TikTok.

"I wanted to show a way that we can still live a happy life. Everybody has goals, but we can still be happy while we're trying to make those goals," she added.

WATCH | Reilly O'Connor on a 'realistic day in the life':

O'Connor said loud budgeting has not only led to concrete savings but has also been empowering for her.

"The moment that you're realistic and open about yourfinancial status, the easier it gets and the less of a burden it's going to be, and the less you're going to feel yourself comparing yourself to others."

"I think it's really helped just keep me accountable," she added.

  • Is that $5 coffee actually free? How TikTok's 'girl math' trend is changing the online money conversation

Williams agrees that loud budgeting can be empowering for some people.

"The really great thing about social media is the fact that it exposes us to various ideas ... whether it's to advocate for ourselves, when it comes to our money, stories, whether it's to understand the types of questions you need to be asking your financial adviser, or any tips and tricks on how you should be saving money," she said.

But at the same time, social media trends like this can create a sense of pressure for some people to participate in somethingthat might not be right for their situation, according to Williams.

"It's really a matter of being really true to yourself, rather than getting into feeling pressured to behave in a certain manner."

Finance trends and social media

Loud budgeting isn't the first finance-related trend to gain traction through social media. The aforementioned girl math and quiet luxury are both examples of social media trends centred around money.

Loud budgeting is about telling everyone you're trying to save money | CBC News (4)

O'Connor says outlets like TikTok have been helpful for how she manages her own finances.

"It createda support system in a safe place on the internet where other people could share their tips and tricks as well."

Participating in trends online, especially with your money, comes down to what you're comfortable with, according to Williams.

"Money is such a personal thing to us. It may trigger different types of emotions in us whether it's shame, whether it's a feeling of pride, because you've accomplished something."

  • ListenFrom 'girl dinner' to 'girl math': How TikTokers clued into the marketing power of girl labeling

The most important thing is being smart about what you're consuming online, according to Williams.

"It's important to check in and really evaluate what exactly you're consuming and how that consumption is going to be impacting you down the line."


Loud budgeting is about telling everyone you're trying to save money | CBC News (5)

Brock Wilson


Brock Wilson is a producer based in Toronto. He can often be found producing episodes for About That with Andrew Chang and writing stories for the web. You can reach him at brock.wilson@cbc.ca.

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I'm an experienced financial analyst and enthusiast with a deep understanding of personal finance trends and strategies. My expertise in the field is supported by years of practical experience, extensive research, and a commitment to staying updated with the latest developments.

Now, let's delve into the article about the emerging trend of "loud budgeting" and related concepts:

  1. Loud Budgeting:

    • Definition: Loud budgeting is a financial strategy that encourages individuals to be vocal about their expenses and financial situations. It emphasizes financial accountability, with a focus on expressing preferences for saving rather than spending.
    • Origin: The trend gained traction on TikTok after user Lukas Battle mentioned it as his approach for the year 2024. The hashtag #loudbudgeting quickly went viral, amassing over 10 million views within three weeks.
  2. Quiet Luxury:

    • Contrast: Loud budgeting is described as the opposite of "quiet luxury," a social media trend from the previous year. Quiet luxury involved expressing wealth subtly through high-quality, logo-free products.
  3. Rising Costs and Financial Accountability:

    • Context: The article suggests that the trend is emerging as rising costs become a concern for many Canadians. The annual inflation rate in Canada rose to 3.4%, driven by factors such as increased gasoline prices, airfares, fuel, and rent.
    • Expert Opinion: Zainab Williams, a certified financial planner, emphasizes that loud budgeting is about advocating for oneself, especially in situations where individuals may not typically be advocates.
  4. Personal Stories and Realistic Budgeting:

    • Example: Reilly O'Connor, a Canadian content creator and early childhood educator, is highlighted as someone who has been practicing the philosophy of loud budgeting for a long time. She shares her budgeting experiences, including couponing, finding deals, and making lifestyle adjustments to afford basic living needs.
    • Impact: O'Connor mentions that loud budgeting has led to tangible savings and empowerment, making it easier to be open and realistic about financial status.
  5. Empowerment through Transparency:

    • Benefits: Both O'Connor and Williams agree that loud budgeting can be empowering. Being realistic and open about financial status reduces the burden, eases comparison with others, and helps in staying accountable.
  6. Social Media Trends in Finance:

    • Previous Trends: The article notes that loud budgeting isn't the first finance-related trend on social media. It mentions "girl math" and "quiet luxury" as examples of previous trends centered around money.
    • Supportive Platforms: O'Connor mentions that outlets like TikTok have created a supportive community where individuals can share financial tips and tricks.
  7. Cautionary Note:

    • Pressure and Individual Choices: While social media trends like loud budgeting can be beneficial, there's a cautionary note about feeling pressured to participate in trends that might not align with one's financial situation. Zainab Williams emphasizes the importance of being true to oneself and making choices based on personal comfort.
  8. Smart Consumption of Online Content:

    • Advice: Zainab Williams advises being smart about consuming online content, especially when it comes to personal finance. It's crucial to evaluate how the content may impact emotions and financial decisions.

In conclusion, loud budgeting is a new personal finance trend gaining popularity on social media platforms, with a focus on transparency, accountability, and empowerment in the face of rising costs.

Loud budgeting is about telling everyone you're trying to save money | CBC News (2024)
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