Skimm Money: Loud Budgeting, “Safe Settling,” and No-Spend Saturday

How the news affects your finances.

Loud Budgeting

Aka the latest money trend taking over your FYP. Loud budgeting is all about letting go of the idea that being frugal is a bad thing. Instead, loud budgeters are getting vocal about their savings goals, budgets, and money boundaries. Think: Letting friends and family know that some lunch dates will be a no-go this year because your #1 goal is buying a house. Experts say loud budgeting is taking the stigma out of budgeting and helping people save $$$ in the process. So if you want to up your HYSA balance this year, consider this a TikTok trend worth hopping on.

Your move:

• Set specific goals. Because loud budgeting is all about getting your financial priorities straight. To do that, figure out what you want financially. Is buying a home your big goal? Or are you more focused on eliminating credit card debt? Then adjust your budget accordingly.

• Give a heads up. Let your family and friends know you’re getting serious about your financial goals. That way, if you turn down an invitation or two in the near future, there’s no confusion about why you decided not to go. Bonus: You might inspire a few of your loved ones to think about their money goals, too.

• Don’t cut the fun. Loud budgeting isn’t code for “no spending.” While you might skip out on a few group dinners, there are still lots of fun and frugal alternatives. Ex: Invite your friends over to watch a movie or cook a meal together. Pro tip: Allowing for “fun money” in your budget can make it easier to stick to.

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This week, all eyes are on Big Tech with Amazon, Alphabet, Apple, Meta, and Microsoft reporting earnings. One likely winner: Microsoft, thanks to its big play in AI. Also on investor’s minds: A Fed meeting. While rates are expected to stay the same, investors will be watching closely for signs cuts may be coming soon (think: at the Fed’s next meeting in March).

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Plan a no-spend Saturday.

No-spend challenges are all over social media right now. But if No Spend January wasn’t realistic for you, plan a no-spend Saturday instead. If your typical weekend involves ordering DoorDash or going to the movies, a no-spend day can help you assess which expenses are really worth it so you can keep your budget in check. Plan ahead: Invite friends over for a potluck or a movie night so you can enjoy living, not spending.

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