Can the “Girl Math” Social Media Trend Help Your Finances?
Whoever first decided to use the term “girl math” to refer to purchases that do not have an immediate effect on your bank account balance had a keen sense of clickbait. It inspired the clicks of men who blame their current and former wives for wrecking their finances, as well as women whose minds buzz with calculations all pay period long as they balance work and household responsibilities. Like so many social media buzzwords, especially those that relate to gender, the definition of “girl math” is imprecise. The premise of girl math is that purchases that do not decrease your bank account balance are freebies. This includes impulse purchases that you pay for in cash, as well as purchases paid for with reward points from retailers’ apps, and even extras like free shipping that retailers provide when you spend a lot of money. The best aspects of the girl math trend rely on age-old budgeting principles, while the worst aspects fall victim to the shopaholic’s fallacy. No matter your gender, you can stick to your budget more easily by deciding at the beginning of the pay period how much money to devote to discretionary spending, and you can make your debt problems worse by letting promotional offers tempt you to buy things you don’t need. If you are still in debt despite sticking judiciously to your budget, contact a Miami debt lawyer.
Withdrawing Cash for Discretionary Spending Is Better Than Swiping or Clicking for Impulse Purchases
A frequent aphorism found on girl math content is that purchases you make in cash are free, because they don’t decrease your bank balance. It would be more appropriate to say that purchases you make in cash are already accounted for in your budget. For example, you can avoid accidentally spending your bank balance down to zero if, at the beginning of the week, you withdraw all the money you will allow yourself to spend on lunches at work. This doesn’t mean it’s free; it only means that it is your work lunch budget. It is easier to see the cash in front of you than it is to mentally tally how much you have spent on work lunches or log into your bank account and add up the cost of your work lunches on your phone calculator. The drink you buy from the soda machine on Friday afternoon with the change left over from the past few work lunches isn’t free, but it feels that way, so it tastes even sweeter.
Spending More Money to Get Reward Points Is a Dangerous Game
Retailers know that “buy two get one free” does not improve your finances. You probably don’t need three whatevers, unless whatevers are a food item, and you are going to share them among a group of at least three people. It is best to stick to cash and avoid retailers’ apps, because they understand the gamification of in-app purchases at least as well as video game apps do.
Work With a Debt Lawyer About Thinking Beyond the Budget
A South Florida debt lawyer if you are budgeting in an effort to get out of debt. Contact Nowack & Olson, PLLC in Miami, Florida to discuss your case.
Source:
money.usnews.com/money/personal-finance/spending/articles/what-is-girl-math-and-how-can-you-apply-it-to-your-financial-strategy
