Loud Budgeting

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Loud Budgeting

Want a new fad when it comes to your money?

Well, look no further than loud budgeting.

In a nutshell, its just the same old budgeting process dressed up for social media hype!

Its the confluence of American oversharing, the impact of high inflation and empty savings accounts. A mix of ‘whistling past the graveyard’ with ‘help, I’m drowning’ in a sort of hybrid mix of seeking pity and gaining likes in the world viral moments. And because its a creature of the web, the idea of ‘loud budgeting’ is accessible, everywhere!

Loud budgeting is probably as fleeting as the ice bucket challenge craze that captured the world’s imagination exactly a decade ago. Or remember F.I.R.E.? Financial Independence Retire Early? Yes, it had a following for a viral moment too! Another concept that earned a few likes and disappeared as quickly as sandcastles in a rising tide.

When it comes to personal finance, most people still opt for the slow, steady and silent route. This is due to a variety of factors, all of which are deeply personal.

First, people overwhelmingly still do not really like to talk about their money. This is especially true when it comes to earning. And with this massive gap in personal budgeting off limits, loud budgeting just became very, very silent!

It’s the same when it comes to spending. Most people really aren’t open to discussing their personal spending habits. Sure, some will share, and even overshare some of their spending exploits – a weekend away to a nice hotel, or a sporting event. But few share the nitty-gritty loudly. Who really wants to know how much was spent on detergent, deodorant or dishwasher cleaner. So, on the expenses side of budgeting, loud takes another hit!

Budgeting is a simple process. It’s all about earning versus expenses. Most people will spend up to what they can on living, cars, homes, comfort and experiences. Some people are modest with their spending, others are not. Most people are open to saving a little for future needs. Some people will have concerns about being judged. Others might be fearful of being taken advantage of. Few really want to talk about it, and fewer still want to talk about it loudly. This is especially true here in Ireland.

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