“Noisy budget”, a simple way to manage your finances (in a healthy way)?

The new TikTok trend in financial management? “Noisy budget,” according to the millions of videos on the topic. Many users appreciate the advantages of this method to manage their portfolio in a healthier way.

Talk more openly about your financial worries

The principle? “ Noisy balance sheet it means telling others why you choose not to spend money on something and being transparent about why you’re saving “, we can read in the American edition of Huff Post.

It consists, for example, in saying no to an outing or a trip and openly explaining the reason, and this, without being ashamed : Let’s say your priority is paying off your credit card debt, paying off an overdraft, or putting money away. The idea is to take pride in your financial awareness.

“ A noisy budget suggests that you should talk about your financial situation and make spending decisions that support your goals and fit your budget and current needs. It is socially acceptable to use financial hardship as a reason to withdraw from certain group meetings, trips, or gifts », he explains to our American colleagues Andrea Worochbudget expert, interviewed by Huff Post.

A way to spend less without feeling ashamed

According to her, “noisy budgeting”, and therefore talking about financial problems, provides an opportunity to gather useful information from loved ones who may have experienced similar situations. And therefore you will be able to have many tips available to manage your budget on a daily basis.

But not hiding your financial worries isn’t enough. For the situation to improve, you need to set specific goals to achieve over a period of time, for example within a year, to express your intentions to others and, above all, to allow yourself to plan your budget more effectively.

You also need to make sure you organize yourself to prioritize tasks that are truly valued and organized a monthly spending plan to reduce them elsewhere or, simply, find activities that require little or no expense.

“When you need to go out for a dinner or a weekend getaway, think of an alternative plan to spend time with your friends that doesn’t cost as much. Invite them to your house for a drink. Plan a hike and picnic. Find a free event to attend. The key is to point out that there are many ways to create memories together and to strive to find workable alternatives. »

Andrea Woroch.

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