Dr. Ranjan George, Instructor of Teaching in Management at Rutgers School of Business–Camden, was recently featured in WalletHub’s piece on the rising trend of loud budgeting—a practice where individuals openly share their financial goals with friends or family to stay accountable.
Dr. George explains that this transparency can foster mutual accountability and encourage healthier conversations about money, especially when navigating spontaneous social situations, like an unplanned dinner out.
However, he also cautions that loud budgeting has potential downsides, including the risk of social isolation if individuals avoid gatherings to stay within their budget.
“Like any budgeting approach, loud budgeting requires effort and diligence,” Dr. George notes. He recommends having open, honest conversations with loved ones about balancing financial restraint with the value of social connection — a mindful approach that ensures budgeting supports both financial health and overall well-being.
Read Dr. George’s full insights on WalletHub: https://go.rutgers.edu/7ia2ehv6