If you have been on a vacation with your buddies or had a lunch with your relatives, chances are that you might have been forced to cough up more money while splitting the bill, just because someone in the group decided to splurge. And this is where loud budgeting comes to your rescue.
What is loud budgeting?
The term, loud budgeting, was coined by TikToker Lukas Battle. It simply means that you can unapologetically say "NO" to things that you can't afford without guilt or pressure.
Battle in a video said, "It's not 'I don't have enough', it's 'I don't want to spend... It was meant to be a silly idea that allows people to be financially transparent without feeling embarrassed."
"Loud budgeting has the same feeling as sneaking candy into a movie theatre. You feel like you got away with something... [It's] coming out of the situation winning," he added. "Put that dollar in your pocket, choose a stock that's gonna rock it."
This means you can be upfront about your financial goals like saving for a vehicle or house loan, paying off debt etc by being candid about your financial sitution.
Benefits of loud budgeting
Save more: Being vocal about budget goals can help you normalise good financial management instead of living in a sense of false prosperity.
Liberation from stigma: Breaking away from the stigma of debt and budgeting talks with your close ones can be liberating.
Accepting yourself: Loud budgeting can be empowering when you become candid about your financial situation.
Stonger bonds: Being honest with your kith and kin can avoid miscommunication regarding shared spending and even strengthen your relations with them.
No more FOMO: Loud budgeting can help you break away from FOMO (Fear of Missing Out) and embrace JOMO (Joy of Missing Out).
