By Jess Sharp, Money team 

Money saving trends are constantly popping up on social media – but one in particular has been gaining huge amounts of attention.

Created accidentally by a comedian, loud budgeting is breaking down the taboo of speaking about money.

The idea is based on being firmer/more vocal about your financial boundaries in social situations and setting out what you are happy to spend your money on, instead of “Keeping up with the Joneses”. 

On TikTok alone, videos published under the hashtag #loudbudgeting have garnered more than 30 million views – and that figure is continuing to climb. 

We spoke to Lukas Battle – the 26-year-old who unintentionally created the trend as part of a comedy sketch. 

Based in New York, he came up with the term in a skit about the “quiet luxury” hype, which had spread online in 2023 inspired by shows like Succession. 

The term was used for humble bragging about your wealth with expensive items that were subtle in their design – for example, Gwyneth Paltrow’s  £3,900 moss green wool coat from The Row, which she wore during her ski resort trial…

“I was never a big fan of the quiet luxury trend, so I just kind of switched the words and wrote ‘loud budgeting is in’. I’m tired of spending money and I don’t want to pretend to be rich,” Lukas said. 

“That’s how it started and then the TikTok comments were just obsessed with that original idea.” 

This was the first time he mentioned it…

Lukas explained that it wasn’t about “being poor” but about not being afraid of sharing your financial limits and “what’s profitable for you personally”. 

“It’s not ‘skip a coffee a day and you’ll become a millionaire’.”

While talking money has been seen as rude or taboo, he said it’s something his generation is more comfortable doing. 

“I’ve seen more debate around the topic and I think people are really intrigued and attracted by the idea,” he said. 

“It’s just focusing your spending and time on things you enjoy and cutting out the things you might feel pressured to spend your money on.”  

He has incorporated loud budgeting into his own life, telling his friends “it’s free to go outside” and opting for cheaper dinner alternatives.

“Having the terminology and knowing it’s a trend helps people understand it and there’s no awkward conversation around it,” he said. 

The trend has been a big hit with so-called American “finfluencers”, or “financial influencers”, but people in the UK have started practising it as well. 

Mia Westrap has taken up loud budgeting by embarking on a no-buy year and sharing her finances with her 11.3k TikTok followers. 

Earning roughly £2,100 a month, she spends around £1,200 on essentials, like rent, petrol and car insurance, but limits what else she can purchase. 

Clothes, fizzy drinks, beauty treatments, makeup, dinners out and train tickets are just some things on her “red list”. 

The 26-year-old PHD student first came across the idea back in 2017, but decided to take up the challenge this year after realising she was living “pay check to pay check”. 

She said her “biggest fear” in the beginning was that her friends wouldn’t understand what she was doing, but she found loud budgeting helped. 

“I’m still trying my best to just go along with what everyone wants to do but I just won’t spend money while we do it and my friends don’t mind that, we don’t make a big deal out of it,” she said. 

So far, she has been able to save £1,700, and she said talking openly about her money has been “really helpful”. 

“There’s no way I could have got this far if I wasn’t baring my soul to the internet about the money I have spent. It has been a really motivating factor.”

Financial expert John Webb said loud budgeting has the ability to help many “feel empowered” and create a “more realistic” relationship with money.

“This is helping to normalise having open and honest conversations about finances,” the consumer affair manager at Experien said. 

“It can also reduce the anxiety some might have by keeping their financial worries to themselves.” 

However, he warned it’s important to be cautious and to take the reality of life into consideration. 

“It could cause troubles within friendship groups if they’re not on the same page as you or have different financial goals,” he said.

“This challenge isn’t meant to stop you from having fun, but it is designed to help people become more conscious and intentional when it comes to money, and reduce the stigma around talking about it.” 

Platinum prices are currently on the rise, primarily due to short-covering, which has been influenced by the increasing prices of gold and silver. However, despite this uptick, platinum, an industrial metal, seems to be edging closer to a significant decline rather than experiencing a substantial upward breakout.

Technically, while gold and silver are soaring through their 50- and 200- day moving averages, platinum is struggling with its intermediate and long-term moving averages at $914.07 and $924.36, respectively.

In recent developments, Paul Dunne, CEO of Northam Platinum (NPHJ.J), a leading South African platinum mining company, expressed his concerns on Friday. He highlighted that platinum mining firms in South Africa, the foremost global supplier of the metal, are grappling with extremely challenging market conditions. According to Dunne, the sector is undergoing the most severe crisis it has faced in thirty years, with plummeting prices exerting intense pressure.

Dunne remarked, “I personally believe it’s the worst crisis I have seen in three decades, on a relative basis,” emphasizing the critical situation facing the industry. He added, “The squeeze on the industry is severe,” during a discussion with journalists.

Oil prices dropped this week, reflecting weak fuel demand and comments from U.S. Federal Reserve officials that reduced hopes for imminent interest rate cuts. The  U.S. economic indicators suggest a slowdown, with both oil benchmarks dropping about $1 on concerns over high U.S. interest rates and maintaining inflation control, counteracting any bullish sentiment from geopolitical tensions in the Middle East.

Despite potential support from OPEC+ extending supply cuts, the robust U.S. dollar—strengthened by expectations that the Federal Reserve will maintain current interest rates—makes dollar-denominated oil more costly for holders of other currencies.

Platinum Industries IPO Share Listing Price Prediction: Platinum Industries Limited is set to make its market debut tomorrow on Tuesday, March 5, 2024. The initial public offering (IPO) of Platinum Industries opened for subscription on February 27 and closed on February 29. The Platinum Industries IPO is set to make a bumper listing, as its grey market premium (GMP) in the unlisted market is still on fire. Read on to check Platinum Industries IPO share listing price prediction.

Platinum Industries is engaged in the business of manufacturing stabilizers. Its business segment also includes PVC stabilizers, CPVC additives, and lubricants. The company’s products are used in PVC pipes, PVC profiles, PVC fittings, electrical wires and cables, SPC floor tiles, Rigid PVC foam boards, packaging materials, etc. The manufacturing facility of the company is situated in Palghar, Maharashtra, and spreads across 21,000 sq. ft. of land.

Platinum Industries Limited IPO Subscription Status

Platinum Industries IPO has been subscribed 99.03 times in total as the issue received bids for 95.39 crore equity shares as against 96.32 lakh shares on the offer.

The public issue is subscribed 50.99 times in the retail category, 151 times in the Qualified Institutional Buyers’ (QIB) category, and 141.83 times in the Non-Institutional Investors’ (NII) category.

Platinum Industries Limited IPO GMP Today

According to several websites that track grey market activities, Platinum Industries shares are commanding a strong grey market premium. Its shares are trading at a premium of Rs 85. A week ago, the unlisted shares of platinum Industries were trading with a premium of Rs 100 apiece.

Platinum Industries Limited IPO Listing Price Prediction

Considering the upper price band of Rs 171 and the current GMP of Rs 85, the estimated listing price of Platinum Industries Limited IPO is Rs 256. This translates into a GMP of around 49.71 per cent over the issue price.

Platinum Industries Limited IPO Share Listing Date

The equity shares of Platinum Industries Limited have been proposed to be listed on both the leading exchanges – NSE and BSE. The listing will take place on March 5, 2024, and the trading in the counter will begin thereafter.

(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money related decisions.)

By Jess Sharp, Money team 

Money saving trends are constantly popping up on social media – but one in particular has been gaining huge amounts of attention.

Created accidentally by a comedian, loud budgeting is breaking down the taboo of speaking about money.

The idea is based on being firmer/more vocal about your financial boundaries in social situations and setting out what you are happy to spend your money on, instead of “Keeping up with the Joneses”. 

On TikTok alone, videos published under the hashtag #loudbudgeting have garnered more than 30 million views – and that figure is continuing to climb. 

We spoke to Lukas Battle – the 26-year-old who unintentionally created the trend as part of a comedy sketch. 

Based in New York, he came up with the term in a skit about the “quiet luxury” hype, which had spread online in 2023 inspired by shows like Succession. 

The term was used for humble bragging about your wealth with expensive items that were subtle in their design – for example, Gwyneth Paltrow’s  £3,900 moss green wool coat from The Row, which she wore during her ski resort trial…

“I was never a big fan of the quiet luxury trend, so I just kind of switched the words and wrote ‘loud budgeting is in’. I’m tired of spending money and I don’t want to pretend to be rich,” Lukas said. 

“That’s how it started and then the TikTok comments were just obsessed with that original idea.” 

This was the first time he mentioned it…

Lukas explained that it wasn’t about “being poor” but about not being afraid of sharing your financial limits and “what’s profitable for you personally”. 

“It’s not ‘skip a coffee a day and you’ll become a millionaire’.”

While talking money has been seen as rude or taboo, he said it’s something his generation is more comfortable doing. 

“I’ve seen more debate around the topic and I think people are really intrigued and attracted by the idea,” he said. 

“It’s just focusing your spending and time on things you enjoy and cutting out the things you might feel pressured to spend your money on.”  

He has incorporated loud budgeting into his own life, telling his friends “it’s free to go outside” and opting for cheaper dinner alternatives.

“Having the terminology and knowing it’s a trend helps people understand it and there’s no awkward conversation around it,” he said. 

The trend has been a big hit with so-called American “finfluencers”, or “financial influencers”, but people in the UK have started practising it as well. 

Mia Westrap has taken up loud budgeting by embarking on a no-buy year and sharing her finances with her 11.3k TikTok followers. 

Earning roughly £2,100 a month, she spends around £1,200 on essentials, like rent, petrol and car insurance, but limits what else she can purchase. 

Clothes, fizzy drinks, beauty treatments, makeup, dinners out and train tickets are just some things on her “red list”. 

The 26-year-old PHD student first came across the idea back in 2017, but decided to take up the challenge this year after realising she was living “pay check to pay check”. 

She said her “biggest fear” in the beginning was that her friends wouldn’t understand what she was doing, but she found loud budgeting helped. 

“I’m still trying my best to just go along with what everyone wants to do but I just won’t spend money while we do it and my friends don’t mind that, we don’t make a big deal out of it,” she said. 

So far, she has been able to save £1,700, and she said talking openly about her money has been “really helpful”. 

“There’s no way I could have got this far if I wasn’t baring my soul to the internet about the money I have spent. It has been a really motivating factor.”

Financial expert John Webb said loud budgeting has the ability to help many “feel empowered” and create a “more realistic” relationship with money.

“This is helping to normalise having open and honest conversations about finances,” the consumer affair manager at Experien said. 

“It can also reduce the anxiety some might have by keeping their financial worries to themselves.” 

However, he warned it’s important to be cautious and to take the reality of life into consideration. 

“It could cause troubles within friendship groups if they’re not on the same page as you or have different financial goals,” he said.

“This challenge isn’t meant to stop you from having fun, but it is designed to help people become more conscious and intentional when it comes to money, and reduce the stigma around talking about it.” 

Natural gas markets have rallied a bit during the trading session on Thursday again, as we start to see demand pick up for natural gas. We are now looking at the November contract, so the prices have adjusted accordingly. We gapped a couple of weeks ago, and now look as if we are reaching towards the $3.00 level, which of course is a large, round, psychologically significant figure. If we break above there, then the market is ready to go much higher.

NATGAS Video 25.09.20

Pullbacks at this point in time will offer value, and the $2.60 level should be thought of as support. Beyond that, we also have a massive amount of support based upon the $2.40 level, so I think that we are a little overbought and you should be looking for pullbacks in order to pick up value. As we head into the colder months of the year obviously demand for natural gas will continue to pick up, and that should drive prices higher. What is worth noticing is the fact that the US dollar has been very strong, but the natural gas markets have been the one commodity that seem to be paying absolutely no attention to it.

Longer-term, I believe that we rally for a couple of months before we start selling off again due to the cyclicality and the seasonality of this market. We have seen a lot of companies go bankrupt, so that of course helps, but there is still plenty of natural gas out there longer term, so this is still a market that will be under pressure next year.

For a look at all of today’s economic events, check out our economic calendar.

This article was originally posted on FX Empire

More From FXEMPIRE:

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Interested In our Analyst’s Longer-Term Oil Outlook, be sure to sign up for our free oil guide here.

Talking Points:

Last Week’s Impressive Rally, But What Now?

WTI Crude oil has been unable to hold gains so far at the start of the week. Last week’s impressive Thursday-Friday rally had the price of Crude Oil printing a 2-week high on the back of the biggest two-day move higher since the move from the low in late 2008. Crude Oil’s March contract jumped 18% on Thursday and Friday and opened the week with a bullish tone, but has since dropped back toward $30 per barrel on an overall sour risk-tone. Both US Equities closed last week with a gain, which was the first time in four weeks as an unusual correlation between equity and US Oil have emerged.

The Fundamental Story: I Promise To Cut Production If You Do So, First

The resolution of the supply glut may not come anytime soon, which could make it difficult for a sustained rally in Oil to develop absent a sharp drop in the US Dollar. Today, we heard from the head of OPEC, Abdalla El-Badri, who made the following headlines from a conference in London today:

OPEC, NON-OPEC MUST TACKLE OIL SURPLUS TOGETHER: EL-BADRI

ALL MAJOR OIL PRODUCERS MUST `SIT DOWN’ TO SOLVE GLUT: EL-BADRI

In essence, OPEC will not make outputs alone. He went on to say, “It is vital the market addresses the issue of the stock overhang,” and he also noted that they hold to see the global demand to rise later this year to ~1.3m b/d alongside with non-OPEC drop in supply to balance the market.

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Key Levels from Here

Last note, we shared that price appeared to be bouncing off a key level of support drawn from an 18-year chart from the nadir to the high, but that the short-term focus of resistance rested on the 2016 opening range. The current corrective zone, where price may be simply coiling up for another move down, is taken from the 38.2-61.8% Fibonacci retracement levels of the 2016 range. This zone marks the $31.75-$34.25 as a high-alert zone for a resumption of the large downtrend. Should the price break above $34.25; attention will then turn to the YTD high of $38.11 before getting overly bearish.

2009 Bearishness in Positions Seen Mean Reverting

Oil still has a lot of pressure on its back, and may continue to fall even lower, which aligns with our Speculative Sentiment Index or SSI. Our internal readings of Oil are showing an SSI reading of +1.1412. We use our SSI as a contrarian indicator to price action, and the fact that the majority of traders are bullish provides a signal that US Oil may continue lower. If the reading were to turn negative, and price broke above resistance, we could begin looking for further upside toward the YTD high of $38.11.

Sentiment extremes look to be the likely reason for the aggressive rally late last week as Oil bears took their profitable trades off the table. Looking at the CFTC Commitment of Traders report, hedge funds cut their bearish bets on oil ahead of the rally; with speculators’ short position, shrinking 8.4 percent in the week ended Jan.19, and likely continued to do so as the price moved higher. An estimated report showed that short positions had doubled to a record 200 million bbls over the past three months.

T.Y.

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Natural gas futures are trading higher on Thursday shortly after the regular session opening. The change in the market’s direction over the Christmas holiday is being attributed to a colder shift in the latest forecasts starting around the second week of January, according to Natural Gas Intelligence.

The latest model guidance maintained similar demand expectations overall for the next two weeks but shifted to colder in the 11- to 15-day period, according to Bespoke Weather Services.

At 14:45 GMT, February natural gas is trading $2.258, up $0.071 or +3.25%.

Bespoke Weather Services Outlook

The colder shift was “a little surprising given a continued tendency” in the pattern toward a combination of a positive Eastern Pacific Oscillation (EPO) and a positive North Atlantic Oscillation (NAO), Bespoke said. “This gives us some pause, as this suggests that either the projected 11- to 15 day cold weakens again as it rolls into the six- to 10-day, or the cold shot is real but just a narrow colder window in the sea of a warmer pattern type.”

“For now, we did adjust the forecaster colder starting on January 5 but did not move as cold as the current model consensus, as we want to see progression forward, or see a more pronounced change in the EPO/NAQ configuration that would be more supportive for a material colder turn.”

NatGasWeather Outlook

According to NatGasWeather for December 26 to January 1, “Strong high pressure will dominate much of the US through the weekend with much warmer than normal conditions where highs will reach the 40s to 70s, warmest over the southern US. The West Coast will be unsettled with rain and snow showers for locally cool conditions. The Northern Plains will be the only truly cold area with highs of 20s and 30s, but over very low population states. Overall, very light versus normal national demand through the weekend, then moderate early next week.”

Daily Forecast

There is not a lot of interest in the December 26 to January 1 forecast. All eyes are on the 11 to 15 day outlook. This is when the cold is expected to arrive.

Today’s reaction is short-covering in response to the change in the forecast. Aggressive counter-trend buyers or speculators will start to come in if the forecast continues to trend toward colder.

The rally could be dampened by position-squaring ahead of the EIA Natural Gas report on Friday. It is expected to show a 145B draw.

Technically, look for an upside bias to develop on a sustained move over $2.260, and for the downside bias to continue on a sustained move under $2.239.

This article was originally posted on FX Empire

More From FXEMPIRE:

By Jess Sharp, Money team 

Money saving trends are constantly popping up on social media – but one in particular has been gaining huge amounts of attention.

Created accidentally by a comedian, loud budgeting is breaking down the taboo of speaking about money.

The idea is based on being firmer/more vocal about your financial boundaries in social situations and setting out what you are happy to spend your money on, instead of “Keeping up with the Joneses”. 

On TikTok alone, videos published under the hashtag #loudbudgeting have garnered more than 30 million views – and that figure is continuing to climb. 

We spoke to Lukas Battle – the 26-year-old who unintentionally created the trend as part of a comedy sketch. 

Based in New York, he came up with the term in a skit about the “quiet luxury” hype, which had spread online in 2023 inspired by shows like Succession. 

The term was used for humble bragging about your wealth with expensive items that were subtle in their design – for example, Gwyneth Paltrow’s  £3,900 moss green wool coat from The Row, which she wore during her ski resort trial…

“I was never a big fan of the quiet luxury trend, so I just kind of switched the words and wrote ‘loud budgeting is in’. I’m tired of spending money and I don’t want to pretend to be rich,” Lukas said. 

“That’s how it started and then the TikTok comments were just obsessed with that original idea.” 

This was the first time he mentioned it…

Lukas explained that it wasn’t about “being poor” but about not being afraid of sharing your financial limits and “what’s profitable for you personally”. 

“It’s not ‘skip a coffee a day and you’ll become a millionaire’.”

While talking money has been seen as rude or taboo, he said it’s something his generation is more comfortable doing. 

“I’ve seen more debate around the topic and I think people are really intrigued and attracted by the idea,” he said. 

“It’s just focusing your spending and time on things you enjoy and cutting out the things you might feel pressured to spend your money on.”  

He has incorporated loud budgeting into his own life, telling his friends “it’s free to go outside” and opting for cheaper dinner alternatives.

“Having the terminology and knowing it’s a trend helps people understand it and there’s no awkward conversation around it,” he said. 

The trend has been a big hit with so-called American “finfluencers”, or “financial influencers”, but people in the UK have started practising it as well. 

Mia Westrap has taken up loud budgeting by embarking on a no-buy year and sharing her finances with her 11.3k TikTok followers. 

Earning roughly £2,100 a month, she spends around £1,200 on essentials, like rent, petrol and car insurance, but limits what else she can purchase. 

Clothes, fizzy drinks, beauty treatments, makeup, dinners out and train tickets are just some things on her “red list”. 

The 26-year-old PHD student first came across the idea back in 2017, but decided to take up the challenge this year after realising she was living “pay check to pay check”. 

She said her “biggest fear” in the beginning was that her friends wouldn’t understand what she was doing, but she found loud budgeting helped. 

“I’m still trying my best to just go along with what everyone wants to do but I just won’t spend money while we do it and my friends don’t mind that, we don’t make a big deal out of it,” she said. 

So far, she has been able to save £1,700, and she said talking openly about her money has been “really helpful”. 

“There’s no way I could have got this far if I wasn’t baring my soul to the internet about the money I have spent. It has been a really motivating factor.”

Financial expert John Webb said loud budgeting has the ability to help many “feel empowered” and create a “more realistic” relationship with money.

“This is helping to normalise having open and honest conversations about finances,” the consumer affair manager at Experien said. 

“It can also reduce the anxiety some might have by keeping their financial worries to themselves.” 

However, he warned it’s important to be cautious and to take the reality of life into consideration. 

“It could cause troubles within friendship groups if they’re not on the same page as you or have different financial goals,” he said.

“This challenge isn’t meant to stop you from having fun, but it is designed to help people become more conscious and intentional when it comes to money, and reduce the stigma around talking about it.” 

Upside Target at 200-Day Moving Average

The 200-Day MA is at the top of the next higher price range at 2.46, along with the 50% retracement. These indicators themselves provide a realistic higher target for the current rally. However, there are several other factors that point to a price range from 2.37 to 2.46 as being significant. This doesn’t mean that higher prices are reached, but they could be. The 2.37 price level is identified twice. It is an initial target derived from measuring the bottom symmetrical triangle that natural gas broke out of on April 26. Also, a rising ABCD pattern with the CD leg extended by 161.8% of the AB leg completes at that price.

Measured Move Targets 2.40

There is also the completion of a measured move at 2.40. The measured move identifies price symmetry with the last large rally that began from the December swing low. During that advance the price of natural gas increased by 51.8%. On a percentage basis the current rally will match at 2.40. Again, this doesn’t mean it will be reached but when there are five indications identifying a similar price area, some attention is warranted.

Weekly Close May Provide a Clue

Since the week is about to end, the closing price relative to the week’s trading range may provide some guidance. In general, the higher natural gas closes above the halfway point of the weekly range, the stronger the close. The halfway point is at 2.24. Also, this week’s low of 2.13 is a key pivot level as it is a third sequential higher weekly low.

For a look at all of today’s economic events, check out our economic calendar.