- ORIGINAL NEWS
‘Loud budgeting’ is having a moment — here’s how to take advantage of it
- SUMMARY
The emerging trend called “loud budgeting” encourages people to openly discuss and make conscious decisions about their finances to control spending and reduce anxiety.
Being vocal about financial constraints is a new TikTok financial trend that encourages consumers to take control of their finances and be open about making money-conscious decisions.
This approach contrasts with the common practice of overspending and emulating the lavish lifestyles portrayed by celebrities on social media.
The idea behind loud budgeting is to prioritize individual values and cut ruthlessly on what you don’t.
Experts suggest various strategies to combat overspending, like unfollowing brands on social media, implementing a 48-hour rule for purchases, and avoiding impulse buying.
This trend aims to promote financial responsibility and break the cycle of overspending and anxiety caused by societal pressure and social media influences.
- NEWS SENTIMENT CHECK
- Overall sentiment:
positive
Positive
“The concept encourages consumers to take control of their finances and be vocal about making money-conscious decisions, rather than modeling purchase behaviors after celebrities and their bottomless pockets.”
“Erica Sandberg, personal finance expert at CardRates.com, recently told CNBC.com. “With this process, you become proud that you bring a bag lunch, make your own coffee, or take the bus.””
Negative
“There’s a lot of pressure to spend, especially when you are seeing so many products being advertised to you all the time or lifestyles that aren’t very attainable.”
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