A new social trend on TikTok is gaining attention: noisy budgeting. Young people encourage each other to draft a personal budget and then publicly share their financial plans with friends and followers. Bloomberg Agency described this as the latest movement in personal finance and noted it as Gen Z’s approach to financial reporting.
Consider Natalie Fisher, a 25-year-old content creator from the Greater Seattle area. In 2024, she and her spouse aimed to cut costs aggressively. At the start of the year, they FaceTimed friends to reveal their financial goals and the steps they would take, culminating in a commitment to no spending in January. Fisher and her husband also canceled a gym membership costing $208 monthly and avoided salons, nails, and parlors. The idea of high budgeting emerged at a moment when many middle-class households felt a strong need for tighter control over expenses.
Is this OK for Russians?
Olga Milova, head of the financial literacy department in the Central Federal District, explained that the trend toward high budgeting allows people to demonstrate budgeting techniques and common-sense strategies. By sharing successes, individuals may be encouraged to stay on track, avoid mistakes, and adopt practical methods for their financial goals.
For some, promising friends or followers to start budgeting creates a commitment to follow through. Like group workouts, it can be easier to stay disciplined when others are involved, but for others the resolve remains strong regardless of peer presence, according to the expert.
Mary Valishvili, a Master of Laws and associate professor at the Department of State and Municipal Finance, suggested that the idea of high budgeting grew in response to earlier TikTok trends that showcased luxury in a loud manner. She noted that TikTok culture often appeals more to younger users and content creators who promote new trends. This openness is more common in Europe and America than in Russia, she added.
Historically, Russians have learned to manage money within the family and prefer not to discuss finances beyond close circles. The emphasis remains on personal budgeting without public display, Valishvili observed.
Investment strategist Alexander Bakhtin acknowledged that public discussions of spending are less common in Russia, especially about expenditures and available budgets.
Officials from the Moifinansy.rf project urged Russians to understand that personal budgeting is not a taboo topic. They recommended discussing income distribution, expense control, savings, and property within the family while seeking advice from trusted sources. The goal is rational spending, increasing income, and motivating collective financial progress.
According to the expert, the success of others can inspire one to pursue similar achievements. He warned that some noisy budgeting challenges may help many people start financial planning and stay committed to their chosen strategies.
However, caution is advised to avoid scammers or ill-informed mentors. Even a seasoned professional’s advice might not suit everyone, and some suggestions may apply only to narrow audiences. Experts stressed the importance of evaluating role models carefully and maintaining privacy and security when sharing personal data online.
One influencer noted that publicly sharing plans to cut costs may not help everyone and questioned the value of broadcasting every financial move.
How to save correctly
NAFI has reported that from 2020 to 2023, the share of Russians who manage their personal budgets in some form rose from 50% to 65%. The share aiming to minimize nonessential spending increased from 16.2% to 20.4% in 2023, according to Moneyman.
Experts caution that budgeting should go beyond rough estimates of income and expenses. Overlooking small, unplanned costs and lack of long-term planning can undermine even strong plans, said Sergeychik.
Valishvili outlined four core rules to reduce expenses:
- Review spending patterns with modern banking apps that track transactions and reveal gaps in budgets.
- For significant purchases, plan ahead and set long-term goals.
- Look for cashback opportunities from banks, retailers, and tax benefits when eligible, such as a tax deduction for individuals with official income and paying personal income tax (13%).
- Evaluate asset maintenance costs. If a car is used only occasionally, taxi or car-sharing options can cut maintenance, insurance, fuel, and tax expenses that burden the budget.
Posts and references cited in this article rely on insights from industry experts and researchers to help readers navigate personal budgeting thoughtfully and securely. The aim is to encourage practical financial discipline while remaining mindful of privacy and protection online.