Loud Budgeting

Have you heard of Loud budgeting?

Loud budgeting is a personal finance trend that encourages people to be vocal about their budget. Speaking up “is a way for people to avoid overspending and reduce peer pressure.” So says the experts at WalletHub. A recent survey reveals that 1 in 5 Americans exceed their monthly budgets. Loud budgeting is a way for people to stop buying things they can’t afford. It helps you feel good about sticking to your budget. You can be honest with others and win their respect. In fact, your attitude may cause them to consider their use of money. Loud budgeting is about setting boundaries with people so they don’t negatively influence your spending.

WalletHub gives the following tips: Talk about money. Normalizing financial discussions makes it less awkward when you object to something for budgeting reasons. Budget as a group. Collectively discuss the budget for activities within your family and friend circles. When you make plans, people are more likely to participate if they have a voice in the cost. Hold one another accountable. Track your expenses and point out if the group’s in danger of going over budget. Learn more about personal finance and what God says about money. The more you know, the better you’ll become at stewarding what He provides. Encourage others as you gain confidence living with your budget. Whether paying off debt, building your emergency fund, saving, or investing, people are watching and listening. So budget loudly and enjoy the process!

Overspending can quickly wreck your budget. Let Christian Credit Counselors help. They can create a debt management plan that will work for you. For more information, visit online at crown.org/ccc.