Holistic Wealth: A Deep Dive into “Loud Budgeting” with 50 Practical Examples
Loud budgeting isn't a new concept, but it's a great way of bringing your budget to life—giving your budget a megaphone (a “mouthpiece”). Imagine giving your budget hands, and feet, allowing it to speak up, move, and pivot in different directions as needed. This approach animates your budget, making it more than just numbers on a page. It becomes a tool to actively communicate your financial goals, helping you to avoid mindless spending and make real-time decisions and navigate through various financial circumstances with clarity and confidence.
What is Loud Budgeting?
Loud budgeting aligns with the principles of Holistic Wealth and is very much aligned with the “Art of Recovery from Disruption”. Loud Budgeting goes beyond the confines of traditional budgeting. It’s an approach that not only allows you to vocalize your constraints around spending but also helps you to track expenses and align your actions with your core values and beliefs. Loud budgeting is a TikTok trend writer and comedian Lukas Battles started. He explained that loud budgeting is a “way to say no when friends, and family, invite (or pressure) you to spend money you don’t want to”.
In 2019, in an interview with Yahoo, The Final Round, about Holistic Wealth, I inadvertently coined the term “Holistic Wealth Generation” when I mentioned that millennials and Gen Z embodied these values. I later wrote about the term in The New York Observer further explaining the concept of the Holistic Wealth Generation. The loud budgeting trend is a component of the holistic wealth movement. This generation recognizes the interconnectedness of financial, emotional, mental, and spiritual well-being, and loud budgeting is a manifestation of this holistic approach. As I mentioned in that New York Observer article:
Every generation has defining characteristics and circumstances. Millennials have experienced a level and speed of disruption that is largely unprecedented in history. No other generation has faced the swift and lasting changes that millennials have experienced; they’ve experienced global crisis and financial turmoil.
The Deloitte Global Millennial Survey 2019, stated that millennials are a “generation disrupted,” and growing up in a world of disruption with massive transformation has created a vacuum. Millennials have had to learn the art of recovery from disruption, and according to Mark Zandi, chief economist for Moody’s Analytics, “Millennials are the largest, most educated and most connected generation ever.”
Holistic wealth incorporates mindfulness into our everyday lives; it includes experiences and time for nonmaterial pursuits. Millennials and Gen Xers are embracing this trend.
By amplifying their budgeting efforts through technology, communication, and adaptability, the holistic wealth generation is reshaping the way people think about and manage their finances, seeking a more balanced and fulfilling life.
The loud budgeting movement is about financial boundaries, financial authenticity and financial transparency. Loud budgeting empowers you to say, “No thanks, that’s not aligned with my current goals.” Loud budgeting helps you to enforce and vocalize your boundaries when it comes to managing your money.
“The word no is like an asset in a metaphorical bank account where our life’s energy is the holding. Use it to save, and use it to earn a greater sense of yourself, what’s important to you, and where you want to spend your time and energy.”
― Keisha Blair, Holistic Wealth Personal Workbook: 32 Life Lessons to Help You Find Purpose, Prosperity, and Happiness
The Value of the Personal Financial Identity Framework and Loud Budgeting:
The Personal Financial Identity Framework outlined in an entire chapter in Holistic Wealth Expanded and Updated book, gives you the tools to budget out loud. Embracing your financial identity is invaluable and critical for authenticating your money goals and values. This self-awareness not only enhances your financial decision-making but also serves as a guide for others to comprehend your money values. There’s an entire chapter on the Personal Financial Identity framework in the Holistic Wealth Expanded and Updated book. The free Personal Financial Identity quiz is available on the Institute on Holistic Wealth website.
KEISHA BLAIR’S FINANCIAL IDENTITIES FRAMEWORK
How To Budget Out Loud — The Role of Holistic Wealth:
Holistic Wealth extends far beyond monetary gains, encompassing physical, emotional, and spiritual well-being. Our exploration of loud budgeting within the context of Holistic Wealth outlines a roadmap for aligning your financial goals with a fulfilling and balanced life.
Educating Others Through Authenticity:
As you embrace your Personal Financial Identity, you naturally communicate your money values to those around you. This authenticity becomes a powerful tool for educating friends, family, and colleagues about your preferences in spending. Over time, it builds a shared understanding that fosters empathy, understanding, accountability, financial harmony and respect.
The Holistic Wealth Approach:
Opt out of Guilt and Shame for Loud Budgeting
Opting out of guilt and shame is critical to holistic wealth. It’s very important to confront and resolve negative emotions. Name those “dry bones” (i.e. negative emotions) face them, and come to terms with them to powerfully move forward. This is all about reinvention and making space for your new goals and dreams. Loud budgeting helps you on your journey of opting out of guilt and shame.
Opt out of Comparison for Loud Budgeting
Opting out of comparison is critical to holistic wealth. Social comparison theory suggests that individuals determine their own social and personal worth based on how they stack up against others. In a world connected through social media, the constant barrage of curated success and highlight reels, especially as we start the new year can fuel feelings of inadequacy and undermine your sense of accomplishment. It’s critical to be intentional about what we let into our sacred space in 2024.
Opt into Positive Relationships
Holistic wealth extends beyond finances, encompassing meaningful relationships. Loud budgeting has the potential to reveal the relationships in your life that are worth keeping. Toxic relationships are a drain on your energy and prevent you from achieving holistic wealth. Getting rid of toxic relationships helps you to budget out loud without fear or guilt, by tuning out negative messages and emotions and being laser-focused on your goals and life purpose.
Opt into Spiritual Self-Renewal for Loud Budgeting
Spiritual self-renewal is critical for maintaining hope and motivation during difficult times. Prayer, meditation, mindfulness and tuning in to your innermost thoughts and desires helps you with your personal finance goals and enhances your ability to focus and practice loud budgeting. Spiritual self-renewal is the nucleus for your mission and purpose in life. It allows us to breathe life into our purpose.
Opt into Living Life on Your Terms for Loud Budgeting
Staying in alignment with your values and living a life that is true to your goals and personal mission. Walking in alignment with your purpose starts with getting in alignment and living a life of integrity, which naturally enhances “budgeting out loud”.
Opt into Continuous Learning for Loud Budgeting
For loud budgeting to be effective, opt into continuous learning and commit to sharpening your skills and expanding your knowledge base. Invest in personal and professional development, there is a strong correlation between learning and holistic wealth.
How To Make Loud Budgeting A Habit In Your Life
Global Holistic Wealth Day
Global Holistic Wealth Day, celebrated every year on April 9th is a time to reflect on what it means to be truly ‘wealthy’ and how we can embody the transformational power of living with purpose, collecting experiences, engaging in meaningful work, cultivating your health and well-being, and creating emotional and spiritual connections with others, all while continuously working to build financial stability. Global Holistic Wealth Day and Global Holistic Wealth Week provide the opportunity to practice and fine-tune your “loud budgeting,” skills. Individuals can openly discuss and share their budgeting strategies, financial goals, and success stories.
This fosters a sense of community and transparency, breaking down financial taboos and promoting a healthier relationship with money. By participating in loud budgeting on Global Holistic Wealth Day and during Global Holistic Wealth Week, people not only gain valuable insights into managing their finances but also contribute to a global conversation about the holistic nature of wealth, encompassing financial, emotional, and well-being aspects.
Money Date Nights
Studies show that 80 percent of couples have a different money mindset. According to CNBC, a new survey revealed that 64% of couples admit to being “financially incompatible” with their partners, with different philosophies about spending, saving, and investing their money. Unfortunately, this can lead to financial infidelity and financial abuse. In this survey, 45% of coupled adults admitted they’re guilty of financial infidelity. Loud budgeting can also be a part of money date nights.
Listen to the Holistic Wealth podcast episode: Holistic Wealth: A Deep Dive into Loud Budgeting with 50 Practical Examples
Featured on the Show:
Holistic Wealth (Expanded and Updated): 36 Life Lessons To Help You Recover From Disruption, Find Your Life Purpose and Achieve Financial Freedom, the key feature in this episode.
https://instituteonholisticwealth.com/global-holistic-wealth-day/
Follow the Global Holistic Wealth Day Instagram Account: https://www.instagram.com/global_holistic_wealth_day/
Holistic Wealth Personal Workbook
Other Resources:
The Personal Financial Identity Course
