How the 'loud budgeting' trend can aid your mental health

Talking about personal finance is often seen as a taboo which is off-limits, causing many of us to grit our teeth through financial stress while pretending everything is fine.

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However, a new trend called loud budgeting is challenging this silence and making some noise.

Whether it's skipping an expensive dinner with friends or passing on a weekend trip, loud budgeting encourages open, honest conversations about money with friends and family.

We spoke to Zoe Brett, financial planner at EQ Investors, to break down what loud budgeting really means, why it's catching on, and how you can start using it in your own life.

What is loud budgeting?

"Loud budgeting is really just about being open and honest with people about your finances," says Brett. "So, rather than trying to keep up with the Joneses and pay for dinner at that trendy restaurant or the latest outfits, just because your friends or your family are, you are just honest and say actually, I don't want to spend my money on that, I'm budgeting.

"It's about being open and honest with your social circle and saying I don't want to spend this sort of money, I want to be more fiscally responsible."

Why do you think it's gaining popularity now?