#GirlMath…Come On Man!

Are girls really bad at math? If something costs less than $5, it’s practically free, right? If I return something and get a store credit, I make money, correct? LOL

Xavier Angel, CFP®, ChFC, CLTC, and Erik Garcia, CFP®, BFA, discuss one of the latest TikTok trends #girlmath. Erik dispels the myth that girls are worse at math than boys. They discuss how we all tell ourselves stories to justify what we want to buy.

Episode Highlights:

  • Erik discusses the myth of “girl math” and disproves the idea that girls are bad at math by pointing out that, according to statistics, women are just as good at math as men. (2:53)
  • Erik mentions that girls lose confidence in math by grade two or three, leading to a lack of interest in math and STEM careers by ages 13 to 17, with only 11% of girls planning to pursue STEM compared to 35% of boys. (5:42) 
  • Xavier explains that paying for a vacation on a credit card may seem like it’s free, but it actually costs more due to accruing interest. (8:00)
  • Xavier discusses the tendency to justify purchases with “girl math” and encourages listeners to consider the long-term cost of charging items instead of paying upfront. (13:40)
  • Erik shares the importance of being mindful of the stories we tell ourselves, such as the unnecessary purchases we make to justify free shipping. (14:46)
  • Erik explains that teaching kids about money using cash is important for early understanding, but as they grow older, teaching discipline with digital currency becomes crucial. (20:39)

Key Quotes:

  • “Let’s stop and think about what we’re doing. You know, to charge something is costing you more in the long run.” – Xavier Angel, CFP®, ChFC, CLTC
  • “Teaching young kids about money early on, it’s really good to have something tangible because they’re incapable of thinking abstractly. So keeping coins around the house or something that represents money is important. But once your kids are able to start thinking abstractly, probably at age seven or eight, then I think you need to start teaching them discipline in spending money.” – Erik Garcia, CFP®, BFA
  • “Think about the stories that you tell yourself. When you buy stuff, you want something, buy it, and give yourself a good reason to buy it. If you can’t think of a good reason to buy it, don’t buy it.” – Erik Garcia, CFP®, BFA

Resources Mentioned:

About Erik Garcia

Hi there, I'm Erik. How you manage your money and other resources impacts practically every aspect of your life. I help individuals and families invest plan for a more secure and predictable financial future. Thanks for taking time on my site!

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