Brian Gubernick explores loud budgeting, a social media trend where people openly share saving goals and frugal choices. Lucas Battle helped spark the movement. 79% of 18 to 41-year-olds get financial advice from social media, and posting about budgeting decisions creates accountability and shifts culture away from showing off spending.
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Thank you for joining me today. It's Brian Gubernick, and welcome to the No Days Off podcast. We believe that every single day brings a new opportunity to get better. Today I want to talk about money, and specifically I want to cover this new social media money trend that I think is on the rise. I think this, this movement is really, really cool. I think it's really smart. And I think it's especially important for those that are maybe just starting their, their, their wealth journey, or maybe they've been at it for a little while but haven't been able to turn the corner and their wealth has not started progressing at the rate at which they would love it to progress. This new social media trend, it's called loud budgeting. I just recently heard about it a week or two ago and had to look it up for myself. And this loud budgeting concept, I just love this movement. I think it's super, super smart. Now this movement is a pushback against what, what was going on in previous years, which is this quiet luxury trend. Rather than this quiet luxury Loud budgeting actually encourages you to talk openly about your money goals with your friends, with your family, and in doing so, rejecting the societal pressure to spend. So this strategy can help you make money decisions that just better align with your values. The idea here is that if you go to like your social media, your Instagram, your Facebook, your TikTok, whatever you're on, You see so much luxury, so much spending. Maybe it's overspending. Maybe it's things that people could afford, whatever it may be. It's just all opulence. Like, look at me. And this loud budgeting concept is similar. It's look at me, but it's more so look at how much I'm saving. Look at how I'm being strategic around my dollars. And it's, it's, it's really cool. I think it's just a really smart movement. It's not so much a, I don't have enough. It's more of a, I don't want to spend. And that's what the internet personality, a guy named Lucas Battle, I'm not really sure all that much about him, but I think he's really the one that started pushing this loud budgeting concept. He said, you know, it's, it's more about just, I don't want to spend. It's about the the everyday person. Like, I don't want to participate in, in this keeping up with the Joneses. So Lucas acts with authenticity. He sets some boundaries, or he's encouraging others to set some boundaries, and then be— being able to communicate that message to the world around him. And in doing so, he's influencing other people to save more money and pay off debt or start to invest. I read the other day in a report that I think it's 79% of 18 to 41-year-olds are getting the vast majority of their financial knowledge from the internet and social media in particular. 79%, 8 out of 10 18 to 41-year-olds are getting their financial advice from the internet. Now that's not to say that advice is bad. That advice very well may be good. But the point here is with this loud budgeting concept, when you're seeing more information about people saving, it is going to prompt you to think a certain way. That's the way the internet and social media works. It shapes the way people think. And I like this loud budgeting concept because of that. So how does this work exactly? Okay, how do you go about doing this? Some ideas, some things that, that I've seen others do. One example I saw, somebody was talking about or had posted, I am not going out for an expensive dinner tonight. I'd spend $50 normally at dinner. Instead, everybody come over, we're doing a potluck. Or I saw another that said, we're not going to the movies and spending $20 a ticket. Instead, we're gonna order it on streaming. Everybody that— anybody that wants to come over 2 bucks. And we'll all enjoy the movie from home. And the idea, like, I understand, like, I'm not saying forego everything. But you make a handful of these moves, especially if you're living very much so on a budget. We all should be on a budget. But, but if you're really like, if things are lean, just being thoughtful, and being excited to share that you're in fact saving, changes the game. The level of accountability can really help you stick to a budget without feeling guilty, without experiencing FOMO, right? This fear of missing out. So it's just this movement about getting towards transparency in your, in your financial management and not just holding yourself accountable, but holding everyone around you that's important accountable by vocalizing your money plans, helping you achieve your financial goals. You know, some other things that I've seen, I saw someone make a great post, so excited to deposit, I forget how much money, $5,000 into a high yield savings account. Like, when was the last time someone posted, can't wait to save money in a high yield savings? I thought that was really cool. I saw another that said, going on a dupe vacation. I didn't really know what that meant. I had to ask my daughters, right? Because I've heard the word dupe, you know, and I assume, and I was right, you know, it's short for, you know, duplicate, right? Like, but my daughters would call something a dupe. Well, dupe vacation, it was like, instead of going on this expensive trip to say Thailand, how can we do something on our budget that still allows us to experience the Thai culture? I know it sounds like a reach. I know it may sound funny, but putting it out there like, hey, we'd love to go to Thailand. It's not for us today, but here's what we're going to go do to have a like experience versus charging a crazy amount of money to go take that trip. This is what loud budgeting is all about. So the idea here and why I'm sharing this, I just love the movement. I think it's really cool. I think we need to get the word out there about it. I think it's especially impactful on those that are trying to save but are very much, you know, influenced by social media. They participate actively in social media. This is the anti-picture of the Lambo. Instead of posting that picture of that car that can't be afforded, you instead post about this high-yield savings account. Really cool. And I would love for all of us to participate, even spread the word on this loud budgeting concept. That's all I have for you today. The No Days Off podcast. Thank you so much for listening. And remember, every single day brings a new opportunity to get better. So let's get after it.
