Not spending is a flex (Picture: Getty)
Money chat can sometimes feel a bit taboo – or just painfully dull.
But a new TikTok trend is turning this stigma on its head by encouraging you to share your money goals loud and proud.
The trend in question goes by the name of ‘loud budgeting’ and is centered around helping people save money in 2024 – all by being more open when it comes to our finances.
This idea – coined by TikToker Lukas Battle – is about being ‘unapologetically on a budget’ and it’s racked up nearly 10 million views so far.
Lukas explains in the now-viral clip: ‘Loud budgeting is a new concept I’m introducing for 2024. It’s the opposite of quiet luxury. But if you know any rich people, you know that they hate spending money so it’s almost more chic, more stylish, more of a flex.
‘Let’s send a message to corporations about the national inflation level. Let’s take a stand. It’s not “I don’t have enough,” it’s “I don’t want to spend.”‘
It’s also clear that lots of people are already fully on board with this mindset.
‘I pay a lot of money to be at home. So that’s where I’ll be,’ someone replied to the video.
While another agreed with the idea, saying: ‘Someone said that spending money is an ick in 2024 and now I’m living by that.’
Rachel Kerrone, a family finance expert at Starling Bank, says this financial honesty is not only good for your bank balance but your health, too.
She tells Metro: ‘From sleeping better to more honest friendships to stronger mental health, so many good things can come from talking more openly about your money.
‘Taking the taboo out of talking about budgeting can lead to better financial habits such as checking your bank balance more often, switching on real-time payment alerts and feeling in control.
‘You’ll be surprised how discussing your finances can help you feel and save better.’
However, that being said, Rachel stresses to always be cautious about just how open you are being when it comes to your financial details.
She adds: ‘Just make sure you never give any account details or passwords away.’
Obviously, this trend isn’t calling for you to stop spending money all together. After all, most of us have rent/mortgages and bills to pay – we also have to eat and heat our homes.
But the main takeaway is that being on a budget is something to be celebrated and is in no way shameful.
Flexing your wealth through luxurious and unnecessary purchases is out.
Being financially transparent – without feeling embarrassed – is in.
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