When "Girl Math" Works
By nearly every measure, Americans are financially strained. Yet, we’re coming up with new ways to justify expensive purchases.
The latest way, coined "girl math," breaks down the price of an item by the cost per wear. If you use an expensive handbag every day for a year, for example, then it might only set you back a few bucks each time you wear it.
Alternative Ways to Justify Luxury Indulgences
Alternatively, buying something on sale not only means you’ll spend less, but the difference can be considered "found money," which can be put toward something else.
The Psychology of Payment Methods
In addition to how these purchases are rationalized, there’s also a psychology to which payment method is used. Buying big-ticket purchases in cash, for instance, makes them easier to forget because there’s no paper trail, according to a recent paper by Christopher Bechler and Szu-chi Huang at Stanford’s Graduate School of Business.
When "Girl Math" Works
Most experts recommend thinking about major purchases more carefully, and that’s where "girl math" can come in handy. "Sometimes, ‘girl math’ is perfect math," said Brad Klontz, a Boulder, Colorado-based psychologist and certified financial planner. Factoring in how often you will use or wear an item helps "calm down the emotional part of the brain and turn on the rational part of your brain."
When the Math Doesn’t Add Up
"The math often won’t end up in favor of splurging on luxury goods," said Christine Benz, Morningstar’s director of personal finance and retirement planning. "Jewelry and watches may hold their value but most of the rest are depreciating assets." That underscores the importance of weighing those types of purchases carefully, she added, and considering the trade-offs, especially if it comes at the expense of your economic standing.
Conclusion
While the term "girl math" originated from an unflattering view of women and their finances, TikTok’s latest trend aims to reframe the narrative around luxury indulgences. It’s a reminder that we’re all vulnerable to destroying ourselves financially, as Klontz said. However, there are some benefits to this approach. "The key is to be honest with ourselves about what we can afford and what we’re willing to sacrifice," Benz said.
FAQs
- What is "girl math"?
"Girl math" is a term used to describe the practice of breaking down the price of an item by the cost per wear. - How does "girl math" work?
"Girl math" works by factoring in how often you will use or wear an item, making it easier to rationalize the cost. - Is "girl math" a good way to justify luxury purchases?
While "girl math" can be a useful tool, it’s essential to weigh the cost of a luxury item against your financial well-being. - Are there alternative ways to justify luxury purchases?
Yes, buying something on sale or using a buy now, pay later option can be alternative ways to justify luxury purchases.
