by Kristen Euretig, CFP® Founder & Chief Planner
So long, summer! It was a good one for me and mine. We got lots of pool time, and spent some time in both the Rockaways and lakeside at Fahnestock State Park by Cold Spring. As summer wrapped up, a dear friend shared some TikTok videos that were going viral on #girlmath. I admit I had to download the TikTok app to watch them because I’m an old millennial, but it was worth the rabbit hole for sure. Here’s my favorite one.
#Girlmath is slightly offensive yet also totally hilarious, so I got over it (I understand if it doesn’t land that way for everyone). The idea is that if there’s a large purchase you want to or have already made, with some #girlmath you can convert it into an investment. The Dyson hair dryer you bought? You’re saving so much time drying your hair and money on blowouts! Want hair extensions for your wedding? It’s totally worth it because every time you look at your wedding pictures, you’ll be glad you spent the money.
While I enjoy the videos, there’s a dark side to #girlmath, and it’s not just women who do it. I once had a client tell me that if they bought a Tesla, they’d feel better about themselves and be able to get better paying work. The thing is, we can convince ourselves through a seemingly rational thought process that we need to buy something because it’s an investment! I’m not saying that people should never buy things that aren’t absolutely necessary, but let’s be honest: many purchases are not an investment; they’re an expense. And the thing to consider about expenses is not just whether it will save you money down the line, but whether you can actually afford it now. If the answer is no, then it doesn’t matter how much money it will save you later – you can’t afford it.
It may sound harsh, but I want to live my life in reality which means there are countless things I’d love to have yet can’t afford. Even extremely high earners want more than they can have. So if you really want to invest, consider real estate or the markets and Brooklyn Plans can help you with that 🙂
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