It was one of 2023’s great paradoxes. In the peak of a suffocating cost of living crisis — where we were overwhelmed with unaffordable rising rent, bills and food prices — pop culture was enamoured with quiet luxury. Partly thanks to HBO’s award-winning series Succession, the fascination with rich people paying extortionate money for logo-less clothes fueled an unhelpful obsession with people wanting to appear wealthy when, in actuality, many of us were broke. As “old money aesthetics” and ill-informed advice on how to appear rich proliferated across social media, one creator used his 2024 'outs and ins' to make a stand.
“Out: quiet luxury. In: loud budgeting,” declared New York-based stand-up comedian and TikTok star Lukas Battle in a now-viral TikTok. In an equally viral follow-up, Battle explained the basic tenets of his new mantra. “Loud budgeting is being unapologetically on a budget,” he continues, “It's not 'I don't have enough,' it's, 'I don't want to spend'.”
@lukasbattle Replying to @operelly LOUD BUDGETING IS THE NEW 2024 trend
♬ original sound - Lukas Battle
The money mindset has quickly gripped the zeitgeist, with thousands flooding his comment sections with their own proclamations of how they will attempt loud budgeting this year. From swapping restaurant meals out with dinner parties, to “using up all the bottles of product you have — samples, hotel bottles, your old roommate's stuff — before buying”.
“It was meant to be a silly idea that allows people to be financially transparent without feeling embarrassed,” explains Battle, who came up with the idea for loud budgeting as a response to quiet luxury pushing people to emulate wealth when, in reality, “it should be totally acceptable to have financial boundaries,” he says, adding that “dry January, grocery shopping and coffee shop dates” are his favourite examples of loud budgeting.
Most of us detest being resigned to pay the extortionate costs of simply stepping out of our houses yet we still put up with it. Guilt tripped into £1,000 bridesmaids trips to Ibiza or forced into buying that one extra pint because it can’t hurt. Loud budgeting says, “Enough is enough.”
“Frugality is so commonly associated with being mean or stingy and struggling with money is still so taboo that it doesn't surprise me to know that people have really jumped on something that allows them to celebrate the things they do to save money, share advice and embrace the joy that can come from living with less,” says Clare Seal, whose Instagram account @MyFrugalYear helps people overcome their money shame and improve their financial wellbeing. “On my own platform, I try to be honest myself and encourage honesty from others, and the relief and catharsis in my comments section is so clear to see. People want to feel that they are not alone in worrying about money and trying to live more frugally.”
"You won't find fluffy interiors, where cushions are pristinely plumped and in place on my Instagram. I find content like this isn't practical, doesn't reflect realism for many, and can make people feel bad," agrees Vikkie Lee, who shares DIY home improvement tips on her Instagram account @thecarpenters_daughter. "I grew up with the motto that money is "hard earnt, easy spent" and thrifting, making do, making what you want out of recycled or cheap materials (while also learning a new skill) and being more savvy with spending really is and should be more important right now with rising energy and food bills."
That's why, at its core, loud budgeting is about rewriting the social norm. Although the quiet luxury trend was a big driver last year, historically social media has been an engine of desire. Whether it’s YouTube beauty unboxing hauls, GRWMs packed with designer clothes, shoes and bags or five-star holiday recap videos — these apps are breeding grounds for toxic overconsumption and flex culture.
“I think social media is a huge source of the comparison culture and FOMO that leads to people spending way more than they can afford in order to cultivate that sort of aesthetic in their own lives — even though the majority of what we see online is actually only a small part of the whole story,” agrees Seal. By proudly claiming your thriftiness, celebrating not how much you spent on your outfit, but how little, the hope is that loud budgeting will usher in a more level-headed, down-to-earth digital landscape. No more idolising celebrities, no more keeping up with the Kardashians — but way more average Joes spending a reasonable amount in their day-to-day.
“I think it resonated in 2024 because everything seems to be out of reach," says Battle on the unexpected financial movement he sparked. "In no way am I saying "skip the daily coffee and you'll be rich", it's really just about not feeling pressured to spend money to appear a certain way,” he adds.
“With inflation, high housing prices, student loan payments restarting I think being honest and realistic about money should be considered stylish and cool,” he continues. “When your friend wants to go out for dinner but you want to stay in, you can text them 'Sorry, loud budgeting at the moment, Stouffer's is already in the microwave'."
