Read the following passage about the The Rise of Loud Budgeting: A New Financial Transparency Movement and mark the letter A, B, C or D on your answer sheet to indicate the best answer to each of the following questions from 31 to 40.
In recent years, social media has changed how people handle their money through a trend called "loud budgeting." The idea became popular after influencers started sharing their financial journeys online. [I] This approach means openly talking about financial goals, spending limits, and money problems on platforms like TikTok. Unlike older generations who kept money matters private, today's young adults are breaking the mold by discussing their budgets publicly. Instead of trying to keep up with the Joneses through overspending, these people proudly share their financial limits and saving plans with their online friends.
The open nature of loud budgeting brings many benefits for those who try it. Making public promises creates ways to stay responsible that help people stick to their money goals. When someone tells others about their savings target online, they feel they must achieve it. Also, this openness removes the mystery around managing personal finances. [II] Community members share useful tips, celebrate successes together, and offer emotional support during hard times. The shared knowledge from these exchanges makes budgeting less scary and easier for beginners to understand.
However, sharing financial information online has real risks that users should think about carefully. Too much sharing might lead to scrutiny, unwanted advice, or safety problems. Some people may feel more worried when their money troubles become public. [III] Privacy issues also appear when detailed financial information stays on the internet forever. Critics say this trend could cause showing off, where people care more about getting likes than actually improving their finances.
Despite these problems, loud budgeting shows an important change in how people talk about money. This movement reveals younger generations' wish for real connections and shared support when dealing with money stress. By making conversations about financial struggles and wins normal, loud budgeting helps reduce money shame while creating helpful communities. [IV] As this trend grows, it might completely change how society thinks about personal finance learning and helping each other with money matters.
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Question 31: The phrase “keep up with the Joneses” in paragraph 1 has the closest meaning to _________.
A. save up for B. cut back on C. show off to D. get by with
Question 32: According to the passage, which statement is NOT mentioned as a benefit of a loud budget?
A. It helps people get professional financial advice from experts
B. It creates accountability that helps people stick to their money goals
C. It provides emotional support from community members during hard times
D. It makes budgeting less scary and easier for beginners to understand
Question 33: Where in the paragraph does the following sentence best fit?
This approach particularly appeals to digitally connected young adults worldwide.
A. [I]
B. [II]
C. [III]
D. [IV]
Question 34: The word “their” in paragraph 2 refers to _________.
A. influencers B. community members C. online friends D. people
Question 35: Which of the following best summarises paragraph 3?
A. Online financial sharing poses risks, including privacy issues, increased anxiety, unwanted scrutiny, and superficial focus on social approval over real improvement.
B. Public budgeting discussions offer community support and practical advice, though users must carefully evaluate conflicting suggestions from online participants.
C. Digital money conversations provide valuable peer learning and shared experiences, despite occasional challenges in managing diverse feedback from followers.
D. Financial transparency online enables knowledge exchange and mutual encouragement, requiring users to maintain appropriate boundaries when sharing personal details.
Question 36: The word “scrutiny” in paragraph 3 is OPPOSITE in meaning to _________.
A. examination B. observation C. assessment D. indifference
Question 37: Which of the following best paraphrases the underlined sentence in paragraph 4?
A. Young people want genuine relationships and mutual help during financial difficulties.
B. Youth seek online popularity and social recognition through financial discussions.
C. Young adults need professional advice and formal training about money management.
D. Youth prefer competitive displays and wealth comparisons within social networks.
Question 38: Which of the following is TRUE according to the passage?
A. Older generations encouraged young adults to share financial information publicly on social media.
B. Loud budgeting guarantees financial success for all regular practitioners.
C. Deleting posts eliminates privacy concerns about shared financial information online.
D. Public financial commitments help people stay accountable to their saving goals.
Question 39: Which of the following can be inferred from the passage?
A. Traditional financial privacy norms are gradually losing influence among younger generations in modern society.
B. Loud budgeting completely eliminates all financial problems for those who consistently practice it online.
C. Older generations will eventually adopt loud budgeting as their primary financial management strategy worldwide.
D. Social media platforms actively discourage users from sharing personal financial information with online communities.
Question 40: Which of the following best summarises the passage?
A. Loud budgeting exclusively benefits young adults by guaranteeing financial success through constant online sharing and community engagement.
B. Social media platforms created loud budgeting to replace traditional banking systems with peer-based financial advisory services.
C. Financial influencers developed loud budgeting primarily to increase their followers while promoting expensive investment products online.
D. Loud budgeting represents a generational shift toward public financial discussions, offering community support despite privacy risks.