What is loud budgeting?

Is there anything more awkward than feeling pressured by friends and family to justify why you're not splurging on a fancy dinner or holiday, especially when focused on paying off debt or saving money?

By embracing the latest TikTok trend, "loud budgeting," you now have the call to arms to establish spending limits and increase your savings.

This trend may also inspire those around you to evaluate their finances, explore ways to maximise their money and spark conversations in your social circles about budget-friendly ways to enjoy life.

What is loud budgeting?

It was initiated in 2024 by writer and comedian Lukas Battles¹, who explained that loud budgeting is like "sneaking candy into a movie theatre" and "putting a dollar in your pocket." This movement advocates for financial transparency.

Whether you're building an emergency fund, paying off a home loan, or choosing not to splurge on the latest Nikes despite peer pressure, loud budgeting empowers you to confidently decline with a simple "No, thank you." It's a refreshing perspective that encourages setting and respecting personal financial boundaries without shame or guilt.

Practically speaking, loud budgeting can be as simple as informing your friends that you've decided to limit your daily spending to $50, which means turning down invitations to pricey restaurants. The specific amount is optional. The key idea behind loud budgeting is that it's now socially acceptable, mainly due to social media, to establish clear financial boundaries.

You don't need to make excuses or feel guilty about sticking to your budget. Instead, you're transparent about your money objectives, a stance that your friends and family will find hard to dispute.

Here’s how loud budgeting might look like in practice.

1. Are you planning a night out with mates? Offer to shout drinks or dinner, not both.
2. Are you looking forward to a cosy date night? Stream a movie at home instead of splurging on movie tickets and snacks at the cinema.
3. Are you meeting with a work colleague? Instead of going out for lunch, take a stroll and grab a coffee.
4. Are you excited about an upcoming sporting event like the AFL or NRL Grand Finals? Consider buying some nosebleed seats instead of splurging on front-row tickets.

Getting started with loud budgeting.

Budgeting loudly can help you prioritise and achieve your financial goals. It begins with setting a budget. Our Budget Planner simplifies the process of creating and refining your household budget. Combine this with the Defence Bank app to establish and monitor your savings goal and utilise the Payday Countdown feature. If you ever wonder, "How many days until I get paid?" explore our Payday Countdown app widget.

More loud budgeting tips.

1. Share your goals with those you choose. Involving others in your spending decisions can be empowering, helping you achieve your goals faster with their support.
2. Stay positive and avoid diving into specifics. Personal finance is just that—personal. Your financial details are your business and keeping them private is more than okay. Keep your responses positive, brief, and to the point when talking about your personal finances as part of your shift to loud budgeting.
3. Maximise your savings. While budgeting helps you save, making those savings work for you is essential. Consider moving extra funds from your everyday account to a high-interest savings account such as our Max eSaver to boost your savings. Setting up automatic transfers can make growing your savings painless.

For more budgeting tips, reach out to our Contact Centre on 1800 033 139 or visit your local branch to find out more.

 

¹ https://www.tiktok.com/@lukasbattle/video/7318206234392349995?lang=en