8 Reasons ‘Loud Budgeting’ Makes You Feel More Confident About Money

NEWS & TRENDING - MONEY NEWS
Simply talking about money might have a huge impact on how you spend and save.
Updated May 8, 2024
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Loud budgeting is about being upfront and open with your finances, whether it's chatting with friends or sharing your goals on social media. No shame, just straight-up honesty.

This trend started with a bang on TikTok, and now it's helping people everywhere take control of their money.

From crushing debt to building a nest egg, here are eight ways loud budgeting can lower your financial stress and make you feel great about money.

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It helps you articulate financial goals

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A financial goal such as paying off student loans or saving $10,000 for an emergency fund can seem amorphous when you're just thinking about it.

Putting the goal down on paper can help, but there is something about talking it through with friends that makes it feel real. You can bounce ideas around and maybe even learn a few wealth secrets.

Loud budgeting helps you tap into the wisdom of others and devise a realistic plan to get your financial life back on track.

It makes you feel less alone

fizkes/Adobe shaking hands with mortgage broker

When you have credit card debt or haven't hit your savings goals, you might feel like you're the only one in that position. It seems like everyone else is ahead of you financially, and you're alone and lagging behind.

After talking to others about it, you might find that many of your friends are in the same boat. Sharing your story will encourage others to share theirs. Together, you can forge a path forward.

It underscores that you are more than your finances

Antonioguillem/Adobe coworkers laughing and talking

Your finances shouldn’t define you. But when all you can think about is the secrets you are hiding, it becomes difficult not to let it consume you.

Talking about your finances and budgeting with friends and family reminds you that everyone has their own goals and challenges.

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It removes the taboo around talking about money

Rene L/peopleimages.com/Adobe partners in office for planning

For years, it’s been taboo to discuss anything related to money. We've stayed silent about everything from how much we earn to how much our houses cost.

Loud budgeting encourages you to break down that wall and start talking. Talking about money can do a lot of good. It can give you strategies for everything from budgeting to saving for retirement and finding an affordable apartment.

It holds you accountable for overspending

Elnur/Adobe Old couple discussing paperwork

It’s easy to overspend when you’re trying to hide your budget. Loud budgeting encourages you to announce your saving and spending goals out loud.

When friends know what your goals are, it’s easier to ask them to hold you accountable.

It encourages friends and family to plan more budget-friendly activities with you

wutzkoh/Adobe analyzing expenses

When you let loved ones know your saving and budgeting plan, they can skip planning the pricey prix fixe brunch altogether and suggest a potluck instead.

Most people don’t care about adjusting their expectations and spending — they just want to know what you need.

It provides motivation for others to follow your lead

David L/peopleimages.com/Adobe senior woman talking

You might have friends who are also trying to be more cognizant of budgeting, but they don’t want to be the first ones to say so.

By practicing loud budgeting, you set an example for others. Before you know it, padding your savings account will be seen as a better group activity than swiping a credit card.

It can inspire you to ask for more

SHOTPRIME STUDIO/Adobe man talking about his business

If you openly discuss your budget and suddenly find out your friends make significantly more than you, it can inspire you to ask for more at work and in life.

Loud budgeting can start a conversation — with others and yourself — that eventually breaks down the barriers to getting what you deserve so you can get ahead financially.

Bottom line

Wayhome Studio/Adobe female colleagues having lunch outside office

Still don’t feel comfortable talking about your finances with friends? Get on forums or social media and share your numbers.

Talk about your goals. Dig into your budget. Whatever your sounding board, “loud budgeting” can be a game changer if you want to stop overspending and start building your net worth.

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Author Details

Heather Bien Heather Bien is a writer covering personal finance and budgeting and how those relate to life, travel, entertaining, and more. With bylines that include The Spruce, Apartment Therapy, and mindbodygreen, she's covered everything from tax tips for freelancers to budgeting hacks to how to get the highest ROI out of your home renovations.

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