TikTok’s “Loud Budgeting” Hack Could Help You Save Money
— TikTokWhen you hang out with your friends, you probably expect to spend some money. Whether you’re buying rounds of drinks, movie tickets, clothes, dinner — or just putting gas in your car to get to your destination — the cost adds up fast, especially if you have pushy pals who encourage you to spend beyond your means. It’s why socializing and budgeting rarely go hand in hand. When you’re trying to save money, it can be tough to figure out how to strike a balance.Instead of being honest about your current budget, you might give an awkward excuse to stay home or give in and allow yourself to overspend on a wild night out, but it doesn’t have to be that way. To stop the cycle of shame — and to help you save more cash — TikTok’s loud budgeting trend encourages you to speak up and set firm boundaries, all without overthinking, lying, or feeling an ounce of guilt.“Loud budgeting is about getting clear about financial limits, goals, and priorities, and not being afraid to talk about it,” says Ashley Rittershaus, a CFP professional and founder of Curious Crow Financial Planning. The topic of money can feel taboo, she tells Bustle, but this trend is here to flip the script.In a viral TikTok posted on Dec. 29 of last year, creator @lukasbattle explained that loud budgeting is the opposite of quiet luxury. “Loud budgeting isn’t about ‘I don’t have enough,’” he said in his video, which now has over 180,000 likes. “It’s about ‘I don’t want to spend.’”It’s essentially an emboldening mindset shift that helps you stand up to friends and social pressures, but it’s also a good trick for anyone looking to save. Here’s what to know about the loud budgeting trend, and how to try it.How To Practice Loud Budgeting — TikTok/@jadewarshawIf you’re wondering what loud budgeting looks like in practice, picture yourself turning down a friend’s invite to an expensive restaurant while also letting them know why the cost of the outing won’t fit with your current financial goals. According to Rittershaus, the extra dose of honesty will help you stick to your boundaries.If you want, you could offer a cheaper alternative, like inviting them over instead. But to truly loud budget you often have to get a little cheeky, just like @lukasbattle. “If your friend texts you ‘I want to hang out’ you say ‘I don’t want to spend gas money on coming to hear you talk about your ex for three hours,’” he said in his TikTok. Instead of being wishy-washy, you’re supposed to get sassy and tell it like it is.Here’s why: Being loud about your budget makes your goals crystal clear to everyone in the vicinity, and that in turn helps you stay accountable, says Rittershaus. The hardcore honesty will also make your friends less likely to pressure you into spending beyond your means or goals.If a friend tries to talk you into buying something, like a pricy vacation or tickets to a show at an expensive venue, creator @libbybonthelabel suggests explaining to them exactly why you won’t be spending the money. While you’d usually say, “Sorry, I can’t afford that” or “Oh... I don’t know...” the loud-budgeting version of you will say, “Absolutely not. I need to set aside $4,000 by November to pay for a new car.” Details — and a little drama — are tougher to argue with than simply saying “no.”Creator @jadewarshaw also loves this trend, and she added an extra layer. She said you can also loud budget with yourself, too, by getting real about why you’re saving money, how much you hope to save, and what your goals are for the future. In her comments, someone said, “It’s like going debt-free is the newest cool thing. Finally!”Who Should Try Loud Budgeting? — TikTok/@mohaewithjennyparkLoud budgeting can take some practice if you’re used to being awkward or hush-hush about your money, but Rittershaus says it’s so beneficial, especially if you tend to fold under pressure or spend beyond your means while out with friends.“Loud budgeting can also be helpful for specific financial goals, too, like paying off debt, building an emergency fund, saving for a big purchase, or contributing to retirement accounts,” she says. It’s one of the best ways to save money quickly since you’ll be boldly protecting your paycheck.Who knows? By being vocal about your financial goals, the people around you might even join you in cutting back and spending less. As Rittershaus says, “The only way we can normalize talking about money is to start talking about it more, even if it might be a little uncomfortable at first.”Source:Ashley Rittershaus, CFP® professional, founder of Curious Crow Financial Planning
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