But he sees the very real financial consequences that influencers and TikTok trends like quiet luxury have, especially on younger consumers.
"There was this idea of keeping up with the Joneses," said Daigle, a member of the CNBC Financial Advisor Council.
Nearly two-thirds, 62%, of Americans are living paycheck to paycheck, according to LendingClub.
For loud budgeting to be effective rather than gimmicky, Daigle suggests that people focus on their financial priorities and practice moderation with their spending changes.
To help stay on track, she recommends using a budgeting tool like YNAB, also known as You Need a Budget.
Persons:
Thomas Barwick, Steven Sierra, Sophia Bera Daigle, That's, I'm, Daigle
Organizations:
Digitalvision, Getty, Lukas, CNBC, Gen