Loud Budgeting: Financial transparency is trending.

You may have heard the term “loud budgeting” recently & wondered what this trend is all about. With skyrocketing costs of well…EVERYTHING, people are closely examining their consumption habits & making different choices. In essence, loud budgeting means setting a goal to spend more intentionally & being transparent about that process to those in your life.

When you set any goal, letting others know your intentions keeps you accountable. It’s much easier to stay on track if you know someone will call you out. Loud budgeting requires you to get REALLY comfortable with talking about money & equally comfortable saying no. While these conversations can be uncomfortable & awkward, being open about your finances can help remove the shame and stigmas around debt & budgeting. You may even inspire your friends & family to do the same & get serious about their own spending.

So, how are people practicing “loud budgeting” in their everyday lives? What habits are they developing to be more mindful about their spending? We did a little research (& compared notes on our own habits) and came up with a few examples:

Trading nights out on the town for lower (or no) cost activities.

Working out at home rather than a gym membership.

Thifting / buying used rather than new. Facebook marketplace is an amazing resource.

Only buying refills of products you already actually use.

Work from the library & not coffee shops where you have to buy something.

Cutting back to the streaming services to those you use most.

Shopping in your own closet or borrowing rather than a new outfit for every occasion

For online shopping–let it sit in the cart for at least 24 hours. Chances are, you don’t actually want it.

Keep in mind that you can budget for literally anything you want, so if one of these examples is something really important to you, it’s fair game to budget it in. The idea is to take a critical look at where your money is going and find the leaks.

Do you practice “loud budgeting”? How have your family and friends reacted to your financial transparency? Let us know in the comments!