One thing is for certain — TikTok is on the absolute cutting edge when it comes to viral financial trends. The past calendar year has brought us tons of creators piggybacking on topics like girl (and boy) math, savings tips, and perhaps most notably, quiet luxury. But, if 2024 is any indication, it looks like influencers are changing their tune when it comes to spending money.

The big trend right now in the new year? Say it with us — loud budgeting. Microphone test one, two: can you hear us in the back?

What is loud budgeting?

Towards the end of the summer, well into the fall, and even in the early winter of 2023, quiet luxury was a trend embraced by the far reaches of social media — reflected onward to the shelves of department stores and fashion week runways. 

Simply put, quiet luxury was an ethos about spending money on big ticket items, like garments, home decor, and more — but the goal was to remain understated, hence the “quiet.” Think the opposite of late 00s garish maximalism — we’re talking about high quality manufacturing that’s meant to look understated, and for lack of a better word, not expensive.

But in December 2023, a TikToker by the name of Lukas Battle decided to flip the script. His idea wasn’t revolutionary — but it was a rejection of all the quiet luxury trend stands for. His plan was simple — Mr. Battle wanted to be vocal about his desire to live frugally and save money. Enter loud budgeting.

As a concept, loud budgeting is pretty open-ended, with the only real criteria being an adherence to good financial habits, being conscientious about spending — and not dropping serious bucks on luxurious brands, all while living a sense of empowerment. 

How to practice loud budgeting

While we here at Quicken do recognize that loud budgeting is a trend, we’re always here to advocate responsible financial decisions. In the hope that this trend doesn’t go the way of 80s shoulder pads and Von Dutch hats, we wanted to provide a guide to our readers on practical tips to start loud budgeting.

So, if you’re ready to ditch spending big bucks on understated luxury goods and unapologetically save (while telling your friends and family about it), get empowered! Let’s jump right into it. 

1. Embrace frugal living

Embracing frugal living and a rejection of all material objects might be a synonymous comparison to a person stepping out of the quiet luxury lifestyle, but we’re here to tell you that you can still have your nice skincare products and save money.

Here’s the deal — once you commit to living a bit more frugally, you can take stock of how you’re spending your money and find places where you might be able to compromise. 

Get fired up about it! You’re in charge — you’ll be the director of your financial comings and goings, and you might even feel excited at seeing so much extra money in your account when you stop spending on that premium luxury tax. 

2. Review your budget

Okay, so you’ve decided you want to cut back and live frugally. Now what?

As finance professionals, we cannot (like seriously, cannot) stress how important a spending plan is. Want to save money? Plan for it. Do you need to buy a car? Plan for it. Ready to start an investment portfolio? Plan for that too. Having an actual roadmap for where your money goes is absolutely invaluable.

Consider investing in a personal finance app, like Quicken Simplifi. It can help you create savings goals, automatically categorize your transactions, track your investments, and more. Perhaps its most effective tool in the function of loud budgeting is helping you see each and every transaction — so you can see where you’re spending money and identify areas to dial it back. 

3. It’s helpful to have a goal in mind

Sure, having extra money on hand is great, but your loud budgeting practice could be more effective if the goal is to, say, take an amazing trip to your dream destination, say goodbye to credit card debt, pay the down payment on a home, or fund the purchase of a new car. 

Once you set your goal, add it to your budget. Next, you’ll want to see where you can cut back — what items are you overspending on? It can be really helpful to decide what’s a necessary expense and what you can live without. From there, you can add any extra savings toward your goal. 

Goals are what help push us along, especially when resolutions get hard to stick to. By creating one, you’ll have a little extra motivation whenever you need it. 

4. Find similar (cheaper) products

Alright, now it’s time to get creative — nobody said ditching quiet luxury means you need to ditch being fashionable, right? The offerings at your local Target, pharmacy, or thrift store might actually blow your mind. 

If it’s stylish threads you’re after, make your way to a local thrift store. Aside from a deep collection of incredible (and often hilarious) graphic tees that you can anchor into any ensemble, you can often find amazing, gently worn jeans, outerwear staples, hats, and more. Grab a coffee and sift through the racks — it’s pretty freakin’ gratifying. 

Large format chain stores can also offer surprisingly stylish and good quality clothing — look at places like Walmart and Target. Why drop $1,500 on an olive Fear of God bomber jacket when Target has one for $34.00? When it comes to home goods and personal care items, both stores have fantastic selections for substantially cheaper as well. You can also check places like TJ Maxx, HomeGoods, and Marshall’s, as well — while basking in the calm luxury of knowing you’re making great choices.

5. Document your progress

The only way we can really know if we’re making progress on our goals is to document them. How you document them is entirely up to you. 

Since loud budgeting is a viral trend, you can create a dedicated social media account to track your progress, show how much you’re saving, and even share your amazing cheap finds to inspire others. If you’re uncomfortable with sharing your details, don’t worry — it’s totally cool. This is the “loud” part of loud budgeting fully exemplified! (A side note — never share personally identifiable information like your banking info on social media.)

If you want to track your progress more privately, consider setting up a savings goal in Quicken Simplifi. You can see your savings over time, and you can run reports on your spending to see how your habits have changed. 

6. Be unapologetic about living frugally

A word about “loud” — loud budgeting entails being completely unapologetic about adhering to your financial goals and best practices. This is the spirit, the raison d’être of loud budgeting — practitioners are proud of the fact that they’re not allowing themselves to go out and spend excessively. 

So, as a loud budgeter, this is something you’ll want to live. A big night on the town with some friends who like to throw serious money? Politely decline, citing that you’re proudly saving money. A seriously decadent dinner for no reason? Hey, we’re not saying don’t treat yourself, but a simple “I don’t want to spend $500 at a Michelin-starred restaurant tonight” will bring a tear of joy to the eye of any loud budgeter.

The notion that one should feel bad about not being able to afford luxurious-but-non-essential things has been effectively chucked in the trash via loud budgeting. Your financial future is in your hands, and you’re owning it. 

Bravo.

7. Stick with it

If you’ve been deeply into the quiet luxury lifestyle for some time, it may take a little while before you feel fully adjusted and comfortable in a loud budgeting lifestyle. And you know what? That’s okay! The most important thing is that you stick with it and don’t get frustrated. 

If you’re normally one to live quite frugally, consider loud budgeting an opportunity to save even more and further solidify your financial habits. Whether you want to save up for a goal, put money toward your retirement, treat your partner to something nice, pay off your debt, or just have more money in your account, loud budgeting can be a great way to get there with pride.

Tweak your budget as needed, monitor your progress, and most importantly, cultivate a sense of joy from your decisions to be responsible with your money.