Understanding loud budgeting and other social media money trends

Loud budgeting is just one of many money trends you may have seen in your social media feed lately. This episode we get a level-headed take on some of these fads with the help of Kingsley Chak, Senior Vice President of Deposits, Savings and Investments at Scotiabank. He’ll let us know which ones might work, which ones might not and why, as well as give some evergreen tips on getting a handle on your own finances.   

Key moments this episode: 

1:21 — How are Canadians feeling about their money right now? Discussing the results from Scotiabank’s Worry Poll 

5:45 — Budgeting trend 1: loud budgeting 

6:54 — How does bungee jumping help explain loud budgeting? 

8:15 — Is loud budgeting a good thing? 

8:49 — What is quiet luxury and how does it relate to loud budgeting? 

9:50 — Budgeting trend 2: soft saving 

11:38 — Budgeting trend 3: FIRE — financial independence, retire early 

15:07 — Two tips to take away from the conversation