Why Gen Z loves ‘loud budgeting’ — the financial trend you’d expect from a generation of oversharers

“Quiet luxury” and “Doom spending” are out. “Loud budgeting” is in.

The in-your-face financial trend, where crying poverty is the new flaunting of wealth, couldn’t be more perfect for Gen Z, known for their love of oversharing.

Being a loud budgeteer is easy, too — just begin talking very openly, to anyone who asks or doesn’t ask, about your financial situation and the parameters you’ve set for yourself, in order to reach your goals.

“It’s not ‘I don’t have enough,’ it’s ‘I don’t want to spend,’” TikToker Lukas Battle explained in a viral video that’s amassed over 1.4 million views. 

Battle counseled his followers to be honest with their friends about their financial situation, encouraging them to openly discuss their budgets and future plans.

In other words — don’t beg off dinner with a mumbled excuse about a scheduling conflict; instead, send the group chat a text with an apology that you’re saving up to pay off your student loans before you turn 30.

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Financial expert Julie O’Brien explained that loud budgeting can help people feel less alone as they struggle to manage their finances, help them to find new ways to do so and empower them to live within their means.

“They are saying there is no shame and guilt in their financial situation,” O’Brien, senior vice president and head of behavioral science at U.S. Bank, told Money.

“They are just saying, out loud, that healthy management of their money is something they value more than consumption and the curated, unrealistic ideals they see portrayed.”

Most Americans (73%) are feeling stressed out by their finances — and young adults are even losing sleep over it, according to a study published by Empower.

More than half of Gen Z (56%) and millennials (51%) say their finances keep them up at night, compared to just 37% of Gen X and 20% of baby boomers.

Many Americans (67%) say their income isn’t keeping up with inflation causing them to reevaluate their budget and cut back, Empower reported. Gen Z is especially stressed as the housing market has many living with their parents and student loan payments picked back up at the end of the year.

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“Many people can identify with having to prioritize essentials like food and housing over disposable expenses, and loud budgeting is giving people a community where making those difficult-but-responsible choices can be celebrated,” Brian Ford, a Northwestern Mutual wealth management advisor said to Money.

Jennifer Dohm, head of consumer communications at Chime, shared her advice for prospective loud budgeters with the Post:

Save it loud and proud

• “Loud Budgeters” Unite: Saying no to spending doesn’t mean you have to become a recluse. Surround yourself with a community that will support your loud budgeting and join you in thrift shop hunts and cozy nights in. 
• Start With Small Swaps: Your financial habits won’t change overnight, but look for small swaps you can make right away – not buying candy in the theater or being your own barista in the morning – and go bigger, or louder, over time.
• Face Your Fears: While turning a blind eye feels easier in the moment, avoiding facing your finances can snowball into bigger problems. The sooner young adults feel comfortable reviewing their finances in real time, the better habits they will set for themselves. Hacks like turning on balance notifications and setting monthly check-ins for yourself will keep you on the path toward financial progress.
• Make your money work for you: A great way to do that is by starting to build credit, safely. A secured credit card is a great place to start.

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The new trend appears to be something of a pushback against the “quiet luxury” wave, focused on understated but expensive elegance, that swept TikTok at the end of 2023. .

“While ‘quiet luxury’ is about idolizing celebrities, ‘loud budgeting’ is about the everyday person,” TikToker Battle explained in his video.