Social media trends famously come and go. Some are stupid, some are dangerous ... but once in a while you come across a trend that actually makes sense.
Thanks to social media, the pressure to keep up with the proverbial Joneses and appear more affluent than one really is, it seems, is bigger than ever.
But I just caught wind of something called "loud budgeting."
Apparently in some areas (the articles I read focused on New York City), there is a great deal of social pressure NOT to admit you're on a budget. Therefore if you're invited out for drinks or a meal or a nightclub, you feel compelled to go and must never admit you can't afford it.
"Picture this," begins one such article. "You’re out to dinner with a friend who you know makes a lot more money than you do. When you open the menu, your heart sinks. There’s not an entree in sight that’s less than $35, and even a soup is going to run you $18. Then the waiter comes by with…oh God, is that an in-house sommelier? That's it, you’re dropping $100 tonight, at the very least. If you’ve been in this scenario (and let’s be real, who hasn’t) you probably left the dinner and vowed to subsist on dollar pizzas slices until payday to make up for it. But what if you just turned to your friend, closed the menu, and said, 'Sorry, I have to be honest. I can’t afford this. Let’s go somewhere else?'"
And that defiant act – telling your friend you can't afford something – is now called "loud budgeting." Excuse me while I stand up and cheer and pump my fist in enthusiastic support of this trend.
The trend may have started as something of a joke on TikTok, but those in the financial services industry are getting on board as well. The trend has even been highlighted on Good Morning America.
One financial advisor says she’s seen social media add pressure to her clients to spend beyond their means on luxury items they can’t really afford, and welcomes a movement to mitigate that: "I think [social media] can make a lot of younger people feel like they're behind to some capacity and that they have to keep up with that and they have to be buying luxury and brand named items, whether it's clothing or cars or whatever the case may be, and put it out there."
In short, younger people are learning financial struggles are the norm, not the exception; and that frugality and avoiding debt is freedom, not slavery. This is a very, very good lesson to learn at a young age.
One person said, "Staying quiet about your finances and setting spending limits don't have to be shrouded in shame."
Trends may come and trends may go, but hopefully this one sticks around.
There have been multiple wonderful trends like this on TikTok and Instagram in the past few years- honestly that is part of the reason I got on Tik Tok- the videos were so interesting. “Underconsumption core” where people try only only to use what they have, “No Spend” challenges where people document their adjustments as they learn to live without (much) spending, and the “Loud Budgeting” movement? These things have been “trending” off and on for some years and I think, here to stay! (The trends are nuanced on what they are focus on- fascinating).
ReplyDeleteGood grief. Do they have to make a trend out of everything?
ReplyDeleteI have two sons that are learning this as we speak. They have learned that used clothing for their kids is wonderful and the toys Mom made them take care of when they were little make great gifts for birthdays and Christmas. Food budgeting is another thing that has gotten a lot of attention in their homes!
ReplyDeleteSame here. As a single parent son wore yard sale jeans til school (used ones by then had holes). Budgeted with envelopes. Now he's grown. Coupon clipper, bought a fixer upper, married a do-it-herselfer. Gotta start young so it won't be a trend.
DeleteThat is an interesting trend, Patrice. It also points to something different: the self-centeredness of individuals and a society that do not consider the entire group, not just making assumptions based on themselves.
ReplyDeleteSome deep thoughts here. I need to go to Starbucks and get my $7 plus tip double Latte and think about this.
ReplyDeletewhy reply if you have nothing worth listening to???
DeleteA few years ago I decided that we would eat in season, only can and preserve our favorites. No more buying things out of season, no frozen veggies, only what we can't raise or grow ourselves or source locally. This cut out just a few things like bananas and strawberries inn the middle of winter, things like that. I still do buy my pork at Winco but only because no matter how many times I tell local pork growers I can't eat fat they refuse to let me buy my pig until it has been fattened up. No gall bladder means I don't do fat as much as i can. Seeing I can't eat ham because of the nitrites (a slice of bacon seems to be okay though), the best thing for us to do is just buy the 10 pound lean pork loin, bring it home and slice it into roasts, chops or grind it up into sausage. All other meat is local or from the homestead. I raise chickens for eggs and each year hatch out new so I do have a supply of eggs year round, no winter off for them since they just start laying in late Sept early Oct. Friends get the extra eggs and also extra chicken meat. I do want to get goats again but am considering just getting wethers for meat and dogfood and no feeding over the winter but they will also help keep the grass on the hillside down. I had goats before but due to medical reasons had to sell them. I felt if you can't take care of the livestock you shouldn't have that livestock. I still have lots of canned and canned curried goat meat though. The only thing we have bought in the store are staples, milk, cheese, cat food and cat treats. I do splurge about once a month and buy a bakery product of some kind but really want to start making them myself also. Hubby makes all our bread goods so I could make the treats. This has cut the grocery bill down a lot and I know where the food is coming from and also how it is grown in the part of veggies and fruits which we get at the local orchard. It also made us realize just how much we were over growing ourselves and though I have no need to green beans this year since I have them dehydrated, canned and frozen, my elderly friends need them so I will put in a row for them. We moved here for many reasons and one was to live off the land so it makes no sense for us to drive a 45 mile round trip to run to the store for something. Popcorn keeps well as do peanuts and we do consider them staples in our household. God Bless and have a great day.
ReplyDeletethey are the norm, if you live beyond your means
ReplyDeletegives one a feeling of accomplishment WTG
ReplyDelete