Editor’s Note: This article was first published on June 22, 2015. It received a comprehensive update on October 18, 2023. We’ve fixed broken links and enriched the content with the latest research and legislative updates on gender pricing. We aim to provide you with the most current and valuable information on this important financial issue.
Unveiling the True Cost of Gender Pricing: Not Just Pink Fluff
The Financial Impact of Gender Pricing on Women
Tomorrow, June 23, is National Pink Day. In honor of this day, I’d like to discuss a finance topic far from fluffy—the Pink Tax, also known as gender pricing. Trust me, this issue is more than just a splash of color. Women spend over $1,350 in extra expenses yearly, and I’m not talking about make-up, hair appointments, or manicures.
A Few Examples to Consider
- Women pay more for plus-size clothing, while men’s plus-size costs the same as regular sizes.
- Personal hygiene items for women often cost more than those for men.
Want to know more? I’ve compiled this group of articles to help you become familiar with this unfair finance practice. So, let’s proceed.
What is Gender Pricing?
Gender pricing is a form of financial discrimination. Women often pay more for the same products and services as men. For a deeper dive into the history and scope of gender pricing, check out this comprehensive article from U.S. News.
The Real Cost in Numbers
Did you know that women spend an extra $1,350 each year due to gender pricing? That’s right, and it’s not a new issue. A study from 1994 found that women paid an average of $1,351 more per year for similar goods and services as men. When you adjust that for inflation, the number jumps to over $2,300 today! For more details, you can read this Joint Economic Committee PDF.
Beyond Personal Care Items
But wait, there’s more. Gender pricing isn’t limited to feminine hygiene products. It extends to long-term care insurance and life annuities. Women live longer, so they pay more. It’s a financial planning obstacle that many overlook. To understand how this affects your finances, read this insightful piece from Kiplinger.
Legislative Changes
Good news! Over twenty states have passed laws to tackle gender pricing. New York and Ohio have made strides. Even better, campaigns like “Tampon Tax Back” let you reclaim some costs. It’s a step towards leveling the financial field.
What Can You Do?
- Be Informed: Knowledge is power. Stay updated on state laws and campaigns that fight gender pricing.
- Compare Prices: Don’t settle. Compare prices for personal care items and even financial products.
- Opt for Men’s Products: The men’s version is sometimes cheaper and just as good. Give it a try.
Final Thoughts
Gender pricing affects more than just your shopping cart. It impacts retirement savings and even contributes to the gender pay gap. But awareness is rising, and laws are changing. Together, we can make gender pricing a thing of the past.
Thank you for joining me in this critical discussion. Let’s keep the conversation going. Feel free to share your thoughts and experiences below.
Tomorrow, June 23, is National Pink Day. In honor of this day, I’d like to discuss a finance topic that is called the Pink Tax or Woman Tax. And, trust me it is not full of fluff. To the contrary, women spend more than $1,350 in extra expenses.
I’m not referring to those extra expenditures we make on make-up, hair appointments, manicures, etc., but rather being charged more than men for similar products or services. Here are a couple of examples:
- Women pay more for plus-size clothing. But men’s plus-size clothing costs the same as regular sizes.
- Personal hygiene items targeted for women cost more than men’s items.
Want to know more? I’ve compiled this group of articles to help you become familiar with this unfair finance practice.
The Pink Tax
The ‘Woman Tax’: How Gendered Pricing Costs Women Almost $1,400 A Year
Ever Heard of the “Pink Tax”? 4 Items Women Pay More For
After reading these articles, you might ask yourself, “OK. What can I do?”
First, shop for the best prices for items and services like dry cleaning, laundry, and vehicle maintenance. Do comparison shopping and put your findings in a spreadsheet so it will be easy to compare costs.
Secondly, buy men’s versions of certain products when you can. For example, does the color of disposable razors really matter? You guessed it – pink disposal razors cost more.
Pricing discrepancies do matter. Especially if you want to make sure that your hard-earned money is spent wisely. As the articles point out, women spend more than $1,350 per year and get little value in return.
Editorial Update: We strive to keep our content accurate and up-to-date. As part of our ongoing efforts, this article has been moved from “Personal Musings Category” to ” CAREER & BUSINESS CATEGORY” on 9/8/2023.
