Loud Budgeting: The ‘Gen Z’ Approach Towards Financial Management

Be it dance moves, life-saver hacks, or unique concepts that might be useful in day-to-day lives, Gen Z are the trendsetters of today. Currently, a new trend is igniting conversations among youngsters. A money trend, overflowing social media platforms, like TikTok, Instagram, and Twitter --  Loud Budgeting.

Introduced by a Tiktok creator, Lukas Battle, the concept fundamentally revolves around being vocal about one’s financial situation.

What Exactly Is It ?

In simple terms, Battle asks common people to be transparent about their financial limitations. They must be confident and honest enough to say ‘NO’ to unnecessary spending. Say ‘YES’ to needs and ‘NO’ to wants.

At first, the concept seemed to be a jest for some, but quickly, it turned out to be an efficient approach to money management. Individuals following the trend opened up about how they are on a budget and own strategies towards money handling.

In his one-minute video, Lukas stated an instance, which says, if someone who is on loud budgeting would not just simply say no to a dinner invitation but say, “Sorry, can’t go out to dinner, I’ve got $7 a day to live on.”

Not Feeling Ashamed of Your Financial Status

Loud budgeting is a bold movement encouraging the common public to speak openly about their money matters. Sharing financial situations without feeling embarrassed to build bridges of understanding and support. Breaking societal barriers about how you should be spending money and budgeting finances empowers each individual to take control over their finances without any hesitation.

Apart from this, it is a practical approach to get away with FOMO (Fear of Missing Out), which is pretty common among the young generation.

Proceeding With the Loud Budgeting Strategy

According to finance experts, the young generation is trying to adapt their lifestyle in the same was as celebrities. Truth be told, it is not a viable way to save money. Learning money management is crucial to be sustainable. They must know their priorities and be able to invest wisely.

Certain practices may highly contribute to saving money. Some of these include depositing cash in bank accounts, keeping track of spending through mobile apps, or even using budgeting/ investment tools. Rather than listening and getting influenced by what society says, people need to understand that prioritizing one’s finances is essential.

From sharing budgeting tips to revealing saving strategies, people are breaking the silence surrounding money matters. With hashtags like #financialfreedom #moneytalks, loud budgeting is not just a trend, it is a revolution, boosting confidence in individuals to speak aloud about their finances and say ‘No’ to what they cannot afford.

Policybazaar UAE: Helping you navigate the wilderness of the insurance world!

Written By: Mousree Das