Is your morning coffee free of charge because you bought it with a pre-paid card?
Are you losing money if you walk past a retail sale without buying something?
Is that item free because you paid for it with cash?
If you answered yes to any of the above questions, you may be familiar with the concept of “girl math,” a recent TikTok trend that where people explain their personal rationales for spending decisions that may not make traditional financial (or mathematical) sense. Investment advisors and personal finance experts say as long as the explanations are treated as just for fun, girl math can actually encourage financial transparency and open up discussions about money.
“Basically, girl math is mentally counting,” explained Alyssa Davies, the founder of financial blog Mixed Up Money and a TikTok creator based in Chestermere, Alta.
“It’s not just women that do this,” she said. “We all do this sort of rationalizing when it comes to our expenses.”
But the girl math trend can take rationalizing spending to a new level.
“We have already earned $150,” says TikTok creator vialsss after finding a MacBook, regularly priced at $1,450, on sale for $1,300 in a video with the hashtag #girlmath.
The girl math rationale here is that by finding the item on sale, the $150 price difference is earned money.
TikTok user @vialsss calculates that they’ve ‘earned’ $150 by finding a MacBook on sale for $150 off the regular retail price, in a classic example of ‘girl math.’ (@vialsss/TikTok)
A fun trend not to be taken too seriously
“Return something at Zara for $50, bought something else that was $100, it only cost me $50. Girl math,” explained TikTok user samjamessssss in a video that’s been liked more than 628,000 times.
The original $50, normally accounted for in a budget, doesn’t count in this case because it was already spent.
The World this Weekend19:45How the ‘Girl Math’ trend is taking over TikTok | Capsule Edition
On this episode, many people are turning to the social media app TikTok for financial advice – we look at whether the benefits outweigh the costs. Also, skilled workers from Nigeria are looking for opportunities to work in Canada — which could create a shortage in the country’s workforce. Plus, we take you to Modena, Italy – where producers of Parmesan cheese are using technology to fight knockoffs.
Davies says these kinds of mental gymnastics are all in fun and are really about how people decide whether purchases are worth it.
“Overall, I do think it’s something that’s just to be taken lightly and not too seriously,” she told CBC News.
According to Davies, part of the appeal of girl math is that it makes it easier to talk about money and purchases in general, despite the stigma many feel around discussing finances in public.
“When a trend like this appears where we can share these sort of interests that we all didn’t realize other people might have, we feel so much less alone,” she said.
Financial advisor Jordan Dawes says he hopes people understand that the financial gymnastics people use in girl math TikTok videos is just for fun, but knows some may take it seriously. (Anis Heydari/CBC)
Traditional advisors urge caution
More traditional financial advisors, such as Jordan Dawes, have embraced some money talk trends on TikTok, but say Canadians should be careful when taking monetary or banking advice from social media platforms.
“I would hope that it’s used for humour and not taken literally,” said Dawes, who is based outside of Victoria. “But I’ve been around enough financial institutions to know that people can take those things seriously.”
A TikTok creator himself, Dawes says he tends to offer more traditional financial advice, but notes that as long as Canadians who engage in “girl math” are following some key principles, they’ll be fine.
“Do whatever you need that makes you happy. Live in the moment,” he said. “Just make sure a small amount is going towards long term savings.”
Sam Lichtman is a financial advisor who says Canadians need to be careful before emulating the budgeting and financial advice they see on TikTok. (Anis Heydari/CBC)
Sam Lichtman, a financial advisor based in London, Ont., echoes that advice and offers additional caution for Canadians who may base their entire budgets on how online creators handle their finances.
“It gets to cross the line when people start talking about where they invest their money, how you should invest your money and what amounts they’re putting on debt, and if you should be doing the same thing,” said Lichtman.
Is ‘girl math’ sexist?
The term girl math has been called “infantilizing,” according to Davies, who told CBC News she understands that criticism, but feels there’s no harm in the phrase.
She calls it “gen Z slang” and says the trend is worthwhile because it helps puts women at the centre of financial conversations that might not happen otherwise.
This is a trend created by women for women. And that’s what makes it feel a little bit less icky for me.Alyssa Davies, founder of Mixed Up Money
Though she acknowledges that negative stereotypes exist around women and money, Davies doubts the girl math trend is responsible for them.
“This is a trend created by women for women. And that’s what makes it feel a little bit less icky for me.”
In the end, she said, sound financial principles remain the same, even if the math is gendered.
“You have to know how much money is coming in every single month and how much money is going out,” said Davies.
“If you’re aware of that and you’re spending money and you’re doing the girl math, it’s OK.”
HALIFAX – Ottawa is negotiating a $500-million bailout for Nova Scotia’s privately owned electric utility, saying the money will be used to prevent a big spike in electricity rates.
Federal Natural Resources Minister Jonathan Wilkinson made the announcement today in Halifax, saying Nova Scotia Power Inc. needs the money to cover higher costs resulting from the delayed delivery of electricity from the Muskrat Falls hydroelectric plant in Labrador.
Wilkinson says that without the money, the subsidiary of Emera Inc. would have had to increase rates by 19 per cent over “the short term.”
Nova Scotia Power CEO Peter Gregg says the deal, once approved by the province’s energy regulator, will keep rate increases limited “to be around the rate of inflation,” as costs are spread over a number of years.
The utility helped pay for construction of an underwater transmission link between Newfoundland and Nova Scotia, but the Muskrat Falls project has not been consistent in delivering electricity over the past five years.
Those delays forced Nova Scotia Power to spend more on generating its own electricity.
This report by The Canadian Press was first published Sept. 16, 2024.
TORONTO – Roots Corp. may have built its brand on all things comfy and cosy, but its CEO says activewear is now “really becoming a core part” of the brand.
The category, which at Roots spans leggings, tracksuits, sports bras and bike shorts, has seen such sustained double-digit growth that Meghan Roach plans to make it a key part of the business’ future.
“It’s an area … you will see us continue to expand upon,” she told analysts on a Friday call.
The Toronto-based retailer’s push into activewear has taken shape over many years and included several turns as the official designer and supplier of Team Canada’s Olympic uniform.
But consumers have had plenty of choice when it comes to workout gear and other apparel suited to their sporting needs. On top of the slew of athletic brands like Nike and Adidas, shoppers have also gravitated toward Lululemon Athletica Inc., Alo and Vuori, ramping up competition in the activewear category.
Roach feels Roots’ toehold in the category stems from the fit, feel and following its merchandise has cultivated.
“Our product really resonates with (shoppers) because you can wear it through multiple different use cases and occasions,” she said.
“We’ve been seeing customers come back again and again for some of these core products in our activewear collection.”
Her remarks came the same day as Roots revealed it lost $5.2 million in its latest quarter compared with a loss of $5.3 million in the same quarter last year.
The company said the second-quarter loss amounted to 13 cents per diluted share for the quarter ended Aug. 3, the same as a year earlier.
In presenting the results, Roach reminded analysts that the first half of the year is usually “seasonally small,” representing just 30 per cent of the company’s annual sales.
Sales for the second quarter totalled $47.7 million, down from $49.4 million in the same quarter last year.
The move lower came as direct-to-consumer sales amounted to $36.4 million, down from $37.1 million a year earlier, as comparable sales edged down 0.2 per cent.
The numbers reflect the fact that Roots continued to grapple with inventory challenges in the company’s Cooper fleece line that first cropped up in its previous quarter.
Roots recently began to use artificial intelligence to assist with daily inventory replenishments and said more tools helping with allocation will go live in the next quarter.
Beyond that time period, the company intends to keep exploring AI and renovate more of its stores.
It will also re-evaluate its design ranks.
Roots announced Friday that chief product officer Karuna Scheinfeld has stepped down.
Rather than fill the role, the company plans to hire senior level design talent with international experience in the outdoor and activewear sectors who will take on tasks previously done by the chief product officer.
This report by The Canadian Press was first published Sept. 13, 2024.
VANCOUVER – Mediated talks between the union representing HandyDART workers in Metro Vancouver and its employer, Transdev, are set to resume today as a strike that has stopped most services drags into a second week.
No timeline has been set for the length of the negotiations, but Joe McCann, president of the Amalgamated Transit Union Local 1724, says they are willing to stay there as long as it takes, even if talks drag on all night.
About 600 employees of the door-to-door transit service for people unable to navigate the conventional transit system have been on strike since last Tuesday, pausing service for all but essential medical trips.
Hundreds of drivers rallied outside TransLink’s head office earlier this week, calling for the transportation provider to intervene in the dispute with Transdev, which was contracted to oversee HandyDART service.
Transdev said earlier this week that it will provide a reply to the union’s latest proposal on Thursday.
A statement from the company said it “strongly believes” that their employees deserve fair wages, and that a fair contract “must balance the needs of their employees, clients and taxpayers.”
This report by The Canadian Press was first published Sept. 12, 2024.
