‘Loud budgeting’: The money-saving trend that has nothing to do with giving up your daily coffee
By Jess Sharp, Money team
Money saving trends are constantly popping up on social media – but one in particular has been gaining huge amounts of attention.
Created accidentally by a comedian, loud budgeting is breaking down the taboo of speaking about money.
The idea is based on being firmer/more vocal about your financial boundaries in social situations and setting out what you are happy to spend your money on, instead of “Keeping up with the Joneses”.
On TikTok alone, videos published under the hashtag #loudbudgeting have garnered more than 30 million views – and that figure is continuing to climb.
We spoke to Lukas Battle – the 26-year-old who unintentionally created the trend as part of a comedy sketch.
Based in New York, he came up with the term in a skit about the “quiet luxury” hype, which had spread online in 2023 inspired by shows like Succession.
The term was used for humble bragging about your wealth with expensive items that were subtle in their design – for example, Gwyneth Paltrow’s £3,900 moss green wool coat from The Row, which she wore during her ski resort trial…
“I was never a big fan of the quiet luxury trend, so I just kind of switched the words and wrote ‘loud budgeting is in’. I’m tired of spending money and I don’t want to pretend to be rich,” Lukas said.
“That’s how it started and then the TikTok comments were just obsessed with that original idea.”
This was the first time he mentioned it…
Lukas explained that it wasn’t about “being poor” but about not being afraid of sharing your financial limits and “what’s profitable for you personally”.
“It’s not ‘skip a coffee a day and you’ll become a millionaire’.”
While talking money has been seen as rude or taboo, he said it’s something his generation is more comfortable doing.
“I’ve seen more debate around the topic and I think people are really intrigued and attracted by the idea,” he said.
“It’s just focusing your spending and time on things you enjoy and cutting out the things you might feel pressured to spend your money on.”
He has incorporated loud budgeting into his own life, telling his friends “it’s free to go outside” and opting for cheaper dinner alternatives.
“Having the terminology and knowing it’s a trend helps people understand it and there’s no awkward conversation around it,” he said.
The trend has been a big hit with so-called American “finfluencers”, or “financial influencers”, but people in the UK have started practising it as well.
Mia Westrap has taken up loud budgeting by embarking on a no-buy year and sharing her finances with her 11.3k TikTok followers.
Earning roughly £2,100 a month, she spends around £1,200 on essentials, like rent, petrol and car insurance, but limits what else she can purchase.
Clothes, fizzy drinks, beauty treatments, makeup, dinners out and train tickets are just some things on her “red list”.
The 26-year-old PHD student first came across the idea back in 2017, but decided to take up the challenge this year after realising she was living “pay check to pay check”.
She said her “biggest fear” in the beginning was that her friends wouldn’t understand what she was doing, but she found loud budgeting helped.
“I’m still trying my best to just go along with what everyone wants to do but I just won’t spend money while we do it and my friends don’t mind that, we don’t make a big deal out of it,” she said.
So far, she has been able to save £1,700, and she said talking openly about her money has been “really helpful”.
“There’s no way I could have got this far if I wasn’t baring my soul to the internet about the money I have spent. It has been a really motivating factor.”
Financial expert John Webb said loud budgeting has the ability to help many “feel empowered” and create a “more realistic” relationship with money.
“This is helping to normalise having open and honest conversations about finances,” the consumer affair manager at Experien said.
“It can also reduce the anxiety some might have by keeping their financial worries to themselves.”
However, he warned it’s important to be cautious and to take the reality of life into consideration.
“It could cause troubles within friendship groups if they’re not on the same page as you or have different financial goals,” he said.
“This challenge isn’t meant to stop you from having fun, but it is designed to help people become more conscious and intentional when it comes to money, and reduce the stigma around talking about it.”