OUT: Quiet luxury IN: Loud budgeting

Georgia Leathart
By Georgia Leathart | 18 January 2024
Georgia Leathart.

It’s January... so that means it’s #trend season.

My favourite I’ve seen emerge so far is the rapid shift from the highly coveted ‘quiet luxury’ to the communal embrace of ‘loud budgeting’.

No longer is it a flex to show you have money and can afford to spend it on understated luxury pieces. Instead, it’s about the bold, unashamed embrace of financial empowerment, controlled spending and openly sharing our financial goals.

Less Gwyneth Paltrow’s coveted courtroom designer fits, more Jessica Irvine's nifty budget tips.

Although the loud budgeting trend originated in the US, it’s resonating strongly down under thanks to the cost-of-living and housing crisis. The taboo surrounding money is finally set to shift in 2024.

Why should I care? Why should my clients?

This cultural ripple will change how brands communicate with customers, as well as their tone of voice. Brands that can help customers set goals, track them, and shift spending habits are going to benefit from getting in on the conversation early. For banks it’s a no brainer to get involved, but the clothing and hospitality sector will need to move fast to get on the front foot. Activewear brands are set to benefit too as ‘healthy socialising’ like walks and brunch, replaces more expensive social activities like dinner and drinks.

The biggest shift I predict is that budgeting will become more of a gamified shared activity, where friends support each other, vs a solo activity often linked to stress.

Already my close friends and I are breaking down taboos. For the first time we are openly sharing our financial goals and adjusting our social outings to better encourage each other in achieving them. We're even confessing when we fall off the savings wagon...

I’m on board! Where do I start?

So, if in 2024 you’re looking to reset your relationship with money, here’s the best loud budgeting tips I’ve come across so far:

- Start the year with a clear budget. Ladies Finance Club has a brilliant budget spreadsheet that’s free to download and easy to update.
- Keep a note in your phone to track purchases under 'needs' and 'wants' to better understand what you're spending your money on. So far this year I've spent $60 on 'needs' and $365 on 'wants', whoops.
- If the power of girl maths is too strong to resist a good sale email, use ‘unroll me’ to quickly unsubscribe from emails en masse.
- Use the NSW Fuelcheck app to find the cheapest petrol in your area. A quick scan showed me I can fuel up for $1.94 a litre in Tempe vs $2.13 at my closest petrol station

- Lastly, be clear on your spending and saving goals, and don't be shy about sharing those with your friends.

As a girl who loves a spreadsheet, and sharing a savings tip, I’m a big fan of the loud budgeting trend and hope it’s here to stay.

Georgia Leathart, National Head of Strategy, Hearts & Science


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