Money Monday: The Pink Tax

If you follow us on Instagram, then you know we’ve been running a Monday series called #MoneyMondays, where we try to provide our brides with helpful financial advice. But, there’s only so much you can say in an Instagram caption, which is why we’re turning #MoneyMondays into a brand new blog series! Come back to our blog every Monday and you’ll find a blog post that corresponds with that week’s #MoneyMonday Instagram post. This week’s post is all about the pink tax! Not sure what that is? Let us break it down for you below!

What is The Pink Tax?

Are you a woman? Do you buy women’s products? Then you know exactly what the pink tax is and have most likely been paying it for years. To break it down in its simplest terms, the pink tax refers to women’s products that are priced significantly higher than men’s products. How much more you may ask? Not a few cents or dollars, but a whopping extra $1,300 a year. Talk about wasted money that could be going into a savings account! The only difference between these products is - you guessed it - the color, women’s products are typically pink.

Pink Tax Product Breakdown

The pink tax has been a part of the economy for a long time, so it’s no surprise many women aren’t aware of its existence. That’s why we’re here to break it down for you! Here are a few stats to give you an idea of the discrepancy between men’s and women’s products. Women spend 11% more on razors, 29% more on body wash and shampoo, 8% more on deodorant, and 29% more on underwear. Don’t even get us started on the prices of pads and tampons and how they’re considered luxury items, as a woman you know that’s not true.

How do I avoid The Pink Tax?

So now that you know you’re getting charged more for everyday products, how do you avoid paying the pink tax? After all, the products that are being priced higher are those that are needed daily. The best way to work around the pink tax is to really do your research and find the most reasonably priced products. Compare products and see where you’re getting the most for your money. If you want to save, try buying men’s products where you can.