Re-branding the idea of budgeting for the Gen Z crowd requires making a splash on social media. Enter ‘Loud Budgeting.’ For an explanation, Credello turned to Aspyre.
What is loud budgeting, and why did it trend on TikTok?
“Loud budgeting promotes being intentional with how you spend (or don’t spend) money,” Jamie A. Bosse, Principle and Wealth Manager as Aspyre Wealth Partners tells Credello. Bosse explains it as a way of saying, “‘I’m choosing to save money for THIS instead of spending it on THAT.’”
Transparency and accountability are key focuses of the trend. Here are some examples shared with Credello:
- “Instead of going out for drinks tonight, let’s save our money and have drinks at my place.”
- “I am saving up for a trip to Greece, so I’ll skip the movies with you guys today.”
- “I am working on building my emergency fund, so I’ll eat at home and meet up with you after you’re done at the restaurant.”