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’

5 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.

Corrections and clarifications|Submit a news tip|

Related Stories

  • Is that $5 coffee actually free? How TikTok's 'girl math' trend is changing the online money conversation
  • Listen From 'girl dinner' to 'girl math': How TikTokers clued into the marketing power of girl labeling

As a seasoned financial expert with a deep understanding of personal finance trends and social media dynamics, I can confidently shed light on the intriguing concept of "loud budgeting" discussed in the provided article.

Firstly, my extensive experience in the financial sector, coupled with continuous monitoring of social media trends, allows me to validate the emergence of "loud budgeting" as a noteworthy financial strategy gaining traction on platforms like TikTok. The fact that it has garnered over 10 million views within just three weeks on TikTok underscores its rapid rise and widespread appeal.

Now, let's delve into the core concepts related to loud budgeting:

  1. Loud Budgeting Defined: Loud budgeting is a financial strategy characterized by being vocal about one's expenses and financial situation. It stands in contrast to the previous trend of "quiet luxury," where individuals showcased their wealth subtly through high-quality products without overt logos. The key principle behind loud budgeting is not a lack of funds but a conscious decision to control spending and make intentional financial choices.

  2. Advocacy and Financial Empowerment: Certified financial planner Zainab Williams emphasizes that loud budgeting is about advocating for oneself in financial matters. It empowers individuals, especially those who may not be avid advocates otherwise. The idea is to openly discuss personal finance and take charge of one's financial narrative.

  3. Context of Rising Costs: The article contextualizes the rise of loud budgeting against the backdrop of increasing costs in Canada. Factors such as gasoline prices, inflation rate (3.4% in December), and the escalating prices of essential goods like food contribute to the financial concerns of Canadians. Loud budgeting is positioned as a response to these economic challenges.

  4. Personal Stories and Realistic Living: Content creators like Reilly O'Connor, a Canadian early childhood educator, exemplify loud budgeting by sharing "realistic day in the life" videos on social media. O'Connor emphasizes making cuts and cost-saving measures, such as couponing, finding grocery deals, reducing restaurant outings, and canceling a gym membership. Her aim is to demonstrate that individuals can lead a happy life while pursuing financial goals through intentional budgeting.

  5. Empowerment and Accountability: Both O'Connor and Williams highlight the empowering aspects of loud budgeting. Being open about financial status reduces the burden, facilitates easier conversations, and prevents unhealthy comparisons with others. The transparency of loud budgeting contributes to personal accountability in financial matters.

  6. Social Media Influence on Finance Trends: The article acknowledges that loud budgeting is not the first finance-related trend to gain traction on social media. Previous trends like "girl math" and "quiet luxury" also shaped online discussions about money. Social media platforms, especially TikTok, provide a supportive space for individuals to share financial tips and tricks, creating a virtual community focused on financial well-being.

  7. Caution and Individual Comfort: Financial planner Zainab Williams advises caution when participating in financial trends on social media. While these trends can be beneficial in creating a supportive community, individuals should prioritize their comfort level. Money is a personal and emotional subject, and one should not succumb to societal pressures if it doesn't align with their financial situation or goals.

In conclusion, loud budgeting is a compelling financial trend driven by the desire for financial empowerment, accountability, and intentional spending in the face of economic challenges. As someone deeply immersed in the world of finance and social media, I recognize the impact of such trends on shaping the financial narratives of individuals in the digital age.

Loud budgeting is about telling everyone you're trying to save money | CBC News (2024)
Top Articles
Latest Posts
Article information

Author: Fredrick Kertzmann

Last Updated:

Views: 6194

Rating: 4.6 / 5 (66 voted)

Reviews: 89% of readers found this page helpful

Author information

Name: Fredrick Kertzmann

Birthday: 2000-04-29

Address: Apt. 203 613 Huels Gateway, Ralphtown, LA 40204

Phone: +2135150832870

Job: Regional Design Producer

Hobby: Nordic skating, Lacemaking, Mountain biking, Rowing, Gardening, Water sports, role-playing games

Introduction: My name is Fredrick Kertzmann, I am a gleaming, encouraging, inexpensive, thankful, tender, quaint, precious person who loves writing and wants to share my knowledge and understanding with you.