Comedian and Gen Zer, Lukas Battle 5inadvertently started a new financial trend.
¡°What is loud budgeting?¡±
Lukas Battle, Comedian and Writier: Loud budgeting is kind of new 6terminology for people to use when they don't want to spend money. And I think it's a term people can use that doesn't make talking about money awkward.
The joke took off with his more than 600,000 TikTok followers, financial influencers, and even himself.
Vanessa Yurkevich, Business and Politics Correspondent: Were you surprised by how many people have related to it?
Lukas Battle: Yes, only because, and I would love to say I'm a genius, brilliant economist, but this is like a concept that's been around. And I really do think the loud part in front of it is what people are kind of drawn to.
7Gen Z and millennials especially feel the burden of inflation, expensive housing and student loan payments. Budgeting has been around since the beginning of time, but in just the four weeks since Battle came up with loud budgeting, more and more people are feeling they now have 8permission to talk about it. What do you think about that, being 9transparent about the fact that you're on a budget?
James Sampson Jr.: I think more so it should be 10normalized about budgeting and saving.
Why do you think so many people are 11resonating with it?
Vivian T, Founder, Your Rich BFF: Because for so long, we have been shamed into silence. Loud budgeting is amazing because instead of having to hide and be 12ashamed about the fact that you have debt or need a budget or wanna save for certain things in your life, you can proudly say them and share them with your friends.
Gen Z and millennials social media's most active users were either entering the job market or working when the pandemic hit. Despite having the lowest f13inancial literacy of any generation. Recent economic 14uncertainty has made them the hungriest for information.
Vivian T: With the social mediafication of society, keeping up with the 15Joneses is no longer the Joneses. We're keeping up with the Kardashians. So we're starting to get 16visualizations of wealth that most regular people will never, ever see in their lives. And so if I'm a young person and I'm in an environment where I feel like it's going to be challenging for me to succeed, I want to arm myself with as much information as I possibly can to give myself that leg up.
