TikTok has been controversial for a while, but now it is teaching Gen-Z about financial literacy.
The usage of “loud budgeting” has become a trend on TikTok and has taught users to tell friends and family what they are saving rather than just what they are spending.
It all started as a joke, but eventually progressed into serious financial advice. The idea behind this is that by explaining your savings to acquaintances, you are more likely to want to save and build a strong financial record. While it seems taboo to some, speaking about your budgeting works.
Financial planner Bobbi Rebell says, “I think one of the key things driving it is this more honest approach to spending money and being more open and just being a little bit more vulnerable”.
