Have you ever been afraid to tell your friends that you can’t afford something? Loud budgeting is all about being honest when you talk about money. Find out how you can take part and keep your spending in check.

What does ‘loud budgeting’ mean?

Loud budgeting is a trend on TikTok and Instagram where people are sharing how you can be open about being on a budget. These videos want to make saying “I can’t afford it” more normal, instead of making up an excuse about why you can’t go.

We did a poll of more than 2,000 UK adults in September 2024 and found out that we are more comfortable talking to our friends about sex, relationships, and politics than we are about money problems.

Do you lie about money to your friends?

The survey also revealed that we find it easier to talk about money with our family than with our friends. Telling a fib about why you can’t go to a social event is more common than you’d think. Our poll showed that the most common excuses people use when they can’t afford to attend something are:

• illness
• being busy with other plans or work, and   
• childcare issues.

Money can be a difficult topic to talk about, but you don’t need to be a social media star to take part in this trend. Our survey showed that 46% of us are already loud budgeting by rearranging social plans to be more affordable or speaking up about not being able to afford something.

Should you join in with the trend?

We all know that the cost of living is high at the moment. Rent and bills are probably eating up a bigger chunk of your income, which means budgeting what’s left over is more important than ever. If you’re someone who feels a lot of pressure to spend money, it could be worth trying out loud budgeting. 

Examples of loud budgeting

If you like the idea of getting involved, here are some situations where you can put loud budgeting into practice.  

Talk about your reasons for budgeting

If your friends and family know that you’re working towards a big money goal or you’re facing extra living costs, they’re less likely to suggest expensive plans. 

Being honest about upcoming costs now will make these conversations easier later down the line. Plus, if you tell your friends about why you’re budgeting, they might open up to you too. 

Make an agreement about gifts

It’s easy to overspend when you’re buying presents for birthdays, anniversaries and other events like Christmas. You can use loud budgeting to limit what you spend. 

If you’re exchanging gifts, set a reasonable budget for you both to stick to. You can even suggest skipping gifts this year or only buying presents for children. It’s important to do this early to reduce the risk that the other person has already bought you something. 

Be honest about the special events you don’t want to skip

For weddings, you could tell the bride or groom ahead of time that you can’t afford to spend a lot on a gift. Weddings can cost a lot just to attend when you add up travel, accommodation and sometimes childcare or a day off work. 

Usually, people would rather you came to their wedding with a thoughtful card than receive an expensive present and not share the day with you.

Suggest budget-friendly alternatives

Just because you’re saving money, it doesn’t mean you can’t have fun. Our survey showed that younger people in particular were more likely to make up an excuse about why they couldn’t attend social events instead of saying that they can’t afford it. 

There are plenty of free or cheaper activities you could suggest instead. Ask your friends whether they’d be up for going on a walk or watching a film at your house instead of meeting at a restaurant.  

Even if you do still want to go out, if your friends are aware you're budgeting they'll be open to finding somewhere cheaper, such as a restaurant with a set menu, vouchers or special offers.  

Talk about how you budget

You probably won’t be the only person in your friend group that’s working towards a money goal.  Whether you’re using savings pots or you’ve had a go on the MoneyHelper Budget Planner, if you’ve found a budgeting app or method that’s working well for you, don’t be shy about sharing it.