A Surprising Way Women Can Save More Money
Over a lifetime, women are paying thousands of dollars more for their razors, shampoos, T-shirts and blue jeans than men, according to a 2015 study from the New York City Department of Consumer Affairs.
In one example, researchers compared two identical scooters. The only difference was the color—one was red and the other was pink. The red scooter cost $24.99, while the pink scooter cost $49.99. That’s a $25 difference!
It didn’t get much better for adult products, either. The study compared two five-blade razor cartridge packs from the same brand. The men’s version cost $14.99, while the women’s version cost $18.49.
The same was true for clothes. Men paid $68 for the same brand and style of jeans that women coughed up $88 for. Noticing a trend?
These examples go on and on. In fact, of the 794 individual products DCA studied, women’s products cost more 42% of the time, while men paid more only 18% of the time.
You’ll notice this “gender tax” everywhere once you start looking for it. But knowing it exists is half the battle! You can easily combat this common pricing practice with a few budget-savvy tips:
1. When you don't care about color, buy the men's version. You don’t need pink razors or flowery shaving gel to have smooth legs. Forget the Gardenia-filled commercials that try to tell you otherwise! Buy the dudes’ version. You’ll be just as fabulous, we promise. And save even more money with the generic men’s version.
2. When you do care about color, budget a little extra or explore other options. If your little girl has her heart set on a pink scooter, budget a little extra for it. There’s no harm in paying a little more for what you truly want. Or think about shopping around for a gender-neutral option that costs less than the pricey girls’ version. Buy it, and have your daughter personalize it with some sparkly decal stickers. The extra fun is free.
3. When the prices are drastically different, ask yourself if you’re getting more for your money. For example, a man's hair cut may cost less, but it also takes a lot less time to cut and blow dry three inches of hair. That’s understandable. Bring down the price of your own haircut by eliminating the blow dry and style. Schedule your appointment at a time when you can slip on a baseball cap afterward and head home. No one will be the wiser!
The Bottom Line
The amount you spend on certain products and services is up to you. Decide what you want to pay and what a product is worth to you. As long as it’s in the budget, it’s all yours!