‘I’ve got $7 a day to live on’: Young Americans are taking part in a viral trend called 'loud budgeting' — something Suze Orman has promoted for years. But could it work for you? (2024)
It’s not even February and Gen Z has already created a new financial trend: “loud budgeting.”
The youngsters can thank TikTok influencer Lukas Battle for the term. Battle coined it in a video late last year where he shared his list of what’s “in” and what’s “out” for 2024.
According to Battle, quiet luxury is “out” while loud budgeting is “in.” Loud budgeting is exactly what it sounds like: loudly declaring that you can’t afford something because it’s not in your budget.
Appropriately, the concept was received with exuberant fanfare online — so much so that Battle made a follow-up video (that also went viral) explaining the concept in detail.
“Loud budgeting has the same feeling as sneaking candy into a movie theater. You feel like you got away with something,” Battle explains. “If you know any rich people, you know that they hate spending money. So it’s almost more chic, more stylish, more of a flex.”
But while the name might be new to you, the concept of loud budgeting has been around for a long time — and has attracted big-name supporters like Suze Orman, the money maven herself.
Most recently, Orman has been pushing parents to stop supporting their adult kids because it often cuts into their retirement savings. She told Moneywise in May 2023 she even gave parents a script for effectively loud budgeting their way out of paying for their kids:
“I am no longer your bank account! I'm getting to the point where I need my money to be able to support myself. You are old enough now to go out and figure it out. So don't come to me for money.”
Orman’s not the only money maven encouraging parents to put their needs before their children’s.
“It is irresponsible of a parent to not be 100% set up for retirement if they have kids, because then it forces them to be financially responsible for their parents,” YouTuber Caleb Hammer warned his viewers on his show.
Though it may seem cold to put your financial needs first, you’re really doing your kids a favor in the long-term. It’s like putting on your oxygen mask first: you have to take care of yourself first or you won’t be able to help anyone else.
Loud budgeting using the Orman playbook is easier said than done. However, Battle thinks his lighter approach to it should make it easier to practice.
“It was meant to be a funny idea that allows people to be financially transparent without feeling embarrassed,” he told Buzzfeed. “I think being honest and realistic about money should be considered stylish and cool.”
For instance, Battle doesn’t just say “I can’t afford to go out to dinner tonight.” He says: “Sorry, can’t go out to dinner, I’ve got $7 a day to live on.”
It may seem blunt, but there’s long been a shame associated with not having as much money as others. By addressing it directly with a bit of tongue-in-cheek humor, Battle breezes right past any embarrassment — and makes it clear he’s prioritizing his own financial stability.
As debt levels continue to rise, embracing the concept of loud budgeting could help countless other Americans. There’s no need to come up with an excuse for why you’re not available if you can just honestly admit you don’t have the cash flow to dine out tonight.
So although loud budgeting might be a funny way to start taking your savings seriously, you may find you’re laughing all the way to the bank.
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' It's 'I don't want to spend,'” he said. Loud budgeting isn't about penny-pinching. It's about knowing exactly how you want to spend your money — and not letting social pressure change how you do that. It means being emotionally honest about what financial tradeoffs you're willing to make and which ones you're not.
Orman has written, co-produced and hosted nine PBS specials, and has appeared on multiple additional television shows. She has been a guest on The Oprah Winfrey Show approximately 29 times and Larry King Live over 30 times. Orman is currently the podcast host of Suze Orman's Women & Money Podcast.
Susan “Suze” Orman graduated from the School of Social Work in 1976 and went on to become an influential business icon, known for her financial advice, motivational speaking, writing, and television show. Suze is also the founder of the Suze Orman Financial Group.
Join Suze's free podcast Community by downloading the Women & Money App on the Apple App Store or Google Play, where you can search past episodes, ask Suze questions (that if chosen will be answered on the podcast) take classes and communicate with each other and possibly Suze herself.
Oh My Dollar! From the radio vaults, we bring you a short episode about the #1 most important thing in your budget: your values. You can't avoid looking at your budget without considering your values – no one else's budget will work for you.
In 2024, there's an idea taking hold that overtly rejects the urge to overspend and promotes speaking up about saving money — welcome to the era of “loud budgeting.” Being vocal about your financial constraints can help curb unnecessary spending, reduce anxiety and achieve broader goals, financial experts say.
Orman warns that if most of your invested money is sitting in a mostly liquid, cash-based account, it won't be earning enough interest to beat the rate of inflation — leaving you with little to show for it. Orman's solution is to buy stocks instead.
When she eventually had the tests, they found that 80% of her spinal cord was being cut off by a non-cancerous tumor. "I was one fender bender away from being paralyzed and a quadriplegic," Orman said. Orman, 69, had a 12-hour surgery at Boston's Brigham and Women's Hospital that was led by Dr. Michael Groff.
I refuse to eat out. I think that eating out on any level is one of the biggest wastes of money out there. A lot of people feel they can't save money right now. How would you challenge that notion?
Per Carfax, cars lose 20% of their value in the first year of ownership and retain just 40% of their original value after five years. “Your goal should be to buy the least expensive car. Period,” said Orman. “That should steer you to a used car rather than a new car.”
I recommend the Roth option. If your plan doesn't have a Roth option, your strategy should be to contribute just enough to the traditional 401(k) to qualify for the maximum matching contribution. Then do more retirement saving in a Roth IRA.
Suze Orman has risen to a position of significant wealth — reportedly boasting a net worth of $75 million — but she didn't start out rich. She worked hard in her post-college years as a waitress before moving into a personal finance career that has garnered her a fortune.
It wasn't until she reached her 50s that she launched her award-winning personal finance program, “The Suze Orman Show,” in 2002. Now, at 72, she is one of the most influential financial advisors in the country, a bestselling author and the host of the popular podcast, “Women and Money.”
Are Podcasts Free? One of the best things about podcasts is that they are usually free to download and listen to. Yes, you'll need a device to listen to them and an internet connection to download them, but the content itself is generally free of charge.
Loud budgeting is a TikTok trend writer and comedian Lukas Battles started. He explained that loud budgeting is a way to say no when friends, family, Instagram influencers or whoever else invites (or pressures) you to spend money you don't want to. Taking control of your budget isn't just about how you handle money.
'Loud budgeting' is about breaking down and combating the stigma around budgeting and not living beyond your means. It encourages more open and honest communication about money so you can prioritise your financial goals and not what others think about you.
A noise budget is a listing of the various sources of noise at a receiver and their associated ranking by importance. It compares different sources of underwater sound, at particular geographical locations and in different frequency bands, averaged over time.
Loud budgeting is a TikTok trend where you prioritize your budget out loud. Instead of overspending or making up an excuse to skip going out with friends, you simply tell them you don't have the budget to spend money.
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