A Guy’s POV on Girl Math November 28, 2024
The internet is abuzz with ‘girl math,’ a social media phenomenon that humorously captures the often-innovative ways, particularly among younger people, of justifying higher spending. This trend, albeit entertaining, often raises questions about the lack of financial literacy and responsible money management, especially among Singapore’s millennials and Gen Zs.
At its core, “girl math” typically involves a kind of mental accounting “gymnastics”, where money is categorised based on its source or intended use. For example, savings from a discount can suddenly be perceived as “free money”, potentially justifying additional spending. Similarly, a splurge might be rationalised as a “saving” when compared to a more expensive alternative.
While the term “girl math” is not gender-exclusive, its comedic framing has made it widely relatable. In Singapore, this trend is particularly evident among the younger generations, millennials and Gen Zs, who are prioritising lifestyle and social experiences. We often hear of peers investing in fitness packages or taking frequent holidays. This pattern could stem from the pressure to emulate certain lifestyles they see on social media, the constant barrage of online reviews from bloggers, or the allure of “self-care” spending. Justifications like “I saved money by taking public transport so I deserve a bubble tea” or “a trip to Bali is a cheaper alternative to Japan” showcase how “girl math” plays out in everyday decisions.
However, these seemingly harmless rationalisations may mask deeper cognitive biases. Mental accounting, where we assign different values to money based on its origin, can blur the lines between money saved and money earned. Confirmation bias, where we selectively focus on information that supports our beliefs, can lead us to justify purchases based on perceived discounts, even if they are still unnecessary expenses. Additionally, “present bias” favours immediate gratification over long-term financial planning, making it harder to prioritise future goals.
That said, “girl math” does not have to be purely negative. When reframed, it can encourage smarter financial habits. For instance, instead of justifying new purchases, why not apply the same line of reasoning, to maximise the value of what you already own? Fully utilising the clothes that we’ve purchased, the gym memberships we’ve committed to, and other items we own, can foster a more mindful and sustainable approach to consumption.
As a Psychology major, I believe it is important to acknowledge the value of self-care and rewarding oneself. Celebrating significant milestones or treating yourself to a good meal after a long day can play a crucial role in maintaining overall well-being. However, as with all things in life, balance is key. Celebratory occasions should be carefully balanced with financial responsibility to avoid overspending.
Unchecked “Girl math” can lead to financial neglect or even debt. For example, justifying a luxurious purchase with accumulated savings from ride-hailing promo codes, only to realise you have overspent and depleted your emergency fund later, can be a slippery slope. These small justifications can snowball into larger financial challenges. It is therefore essential to have financial responsibility in the first place.
Ultimately, “girl math” highlights the complexities of how we manage our finances. While it reflects the human tendency to rationalise spending, it also emphasizes the importance of greater financial awareness and responsible money management, especially in a consumption-driven society like Singapore. So, the next time you feel richer after snagging a good deal, take a step back, breathe, and resist the temptation to take that mental shortcut. Let’s strive to be more mindful and demure in our daily financial habits and work towards a future where every dollar aligns with our priorities.
Contributor:
Lim Zeyu
Wealth Manager
Phillip Securities Pte Ltd (A member of PhillipCapital)
http://bit.ly/TTPlimzeyu
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About the author
Lim Zeyu
Wealth Manager
Phillip Securities Pte Ltd
Lim Zeyu, a Wealth Manager at Phillip Securities, specialises in investment management and insurance planning. He began his wealth management journey in 2023, during his time at the National University of Singapore. Pursuing a double major in Psychology and Business Management, Zeyu offers tailored financial advice to over 60 clients, combining his expertise with a deep understanding of their needs.
He is also a qualified member of the Wealth Management Institute, providing him with valuable exposure to leading experts in the field.
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