Amanda H. Christensen, AFC, Extension Professor Utah Money Moms Editor “Loud budgeting”, the latest financial trend, encourages shedding the stigma around frugality by openly sharing savings goals and money boundaries. Advocates of loud budgeting communicate their priorities, like forgoing lunch dates to prioritize buying a home or paying off debt, fostering a more transparent approach to finances. This trend not only puts you in control of your spending but also removes the taboo associated with budgeting.
As an Accredited Financial Counselor, here’s what I think of this “loud budgeting” movement; I like that it encourages shedding the stigma around frugality by openly sharing money goals and boundaries. Successful ‘Loud Budgeters’ are setting a clear financial goal like ‘I am saving for a down payment’ or ‘I am eliminating credit card debt’. They then kindly inform family and friends about their commitment to that goal to avoid confusion when declining some invitations. And they are not entirely eliminating fun money or the social aspects that money can facilitate like inviting friends over to cook dinner and watch a movie. Tips to be successful with “Loud Budgeting”
Here’s to normalizing open communication about money goals and embracing the opportunity to support each other along the way! Join my free Budget Mastermind. Click HERE for locations and dates!
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