- “Quiet luxury” was the social media trend of 2023. Everyone wanted to look rich.
- But now a rival concept is challenging the notion that being expensive is cool.
- Welcome to the year of “loud budgeting.”
“Quiet luxury” is the latest buzzword in social media to promote an expensive look and lifestyle, but there’s a new competitor threatening to make cheap seem cool instead. It’s called “loud budgeting.”
The concept appears to have been created by a TikTok user named Lucas Battle, who explained it to viewers in December 2023.
He declined to define “big budgeting,” but suggested it includes talking out loud with friends about choosing to live frugally. “Sorry, we can’t eat out. The cost of living is $7 a day,” he said. Said He explained that he believes the concept will be “realized” in 2024.
Social media is full of aspirational content, from fashion aesthetics such as: “old money” to Popularity of luxury skin care (This seems to be the case even among children). Social media trends like this often glorify an upscale lifestyle in both look and feel.
“Budgeting out loud” means talking loudly about living cheaply, as the name suggests, without shame, rather than trying to look modest yet expensive. And it seems like it may be tapping into a desire to reframe the way we think about money.
‘Big budgeting’ is a way to resist the culture of spending
In a conversation with Business Insider, Battle said he coined the term after realizing he needed to cut spending.
“I woke up and decided that this was the year I budgeted because I didn’t know the bar tab was that big,” he said, adding that using the word helps people communicate their commitment to save money. explained. In a casual and interesting way. “I feel like there aren’t many words you can use when you don’t want to spend money.”
Battle said on TikTok that he is against making budgets out loud. “Quiet luxury” It also exploded in 2023 after gaining popularity during the Great Recession. Encourage the purchase of discreet, high-quality items (usually clothing) rather than overtly branded items. But the goal is still to give the impression that you’re spending a lot of money.
Battle said in his TikTok that he thought “loud budgeting” was “more chic” and impressive than “quiet luxury,” and later said that quiet luxury means “Idolize celebrities.” “To become a leader,” he added. related There’s a tendency to say, “Budgeting out loud is routine.”
“I don’t think quiet luxury is achievable,” Battle told BI, adding, “I think it makes people feel like they’re falling behind.”
Rather than trying to appear wealthy, Battle says, “It’s really refreshing that not spending money can be cool and stylish. “Because everyone agrees,” he said.
This idea is starting to spread as people move away from aesthetic spending
After Battle announced the concept on TikTok, other creators picked up on the idea and posted their own videos about it.Some people was praised of concept Be proud of your frugality and what others have offered suggestion How to create a “big budget” in 2024.
“Don’t be afraid to tell people you don’t want to spend money on something because you’re working on one of your savings goals.” Said A TikTok user who goes by the name Libby Brooks.
Yuval Shuminer, founder of financial management app Piere, believes that people want reassurance about their savings decisions as we enter the new year.
In a statement shared with BI, she said social media users are “not really living” to be less extravagant with their money, especially when faced with aspirational extravagant spending on social media. He said it was easy to feel that way.
While some data shows that consumers are being encouraged to shop on social media, we’ve also recently seen a series of trending topics aimed at challenging this. Cost of living It has become a hot topic on the internet.
“Eliminating influence” The term originally referred to creators encouraging people not to buy popular viral products online, but it has now evolved to curb overspending in general. “Overconsumption” He is demonized on TikTok.
Recently, the following idea has been popularized by users who are intentionally trying to reduce their spending. “No spending in 2024” Trying to take responsibility online.
Now, “budgeting out loud” might go a step further and redefine success and coolness as saving money instead of spending it.