Beauty on my Budget #1

July 2012 - The Why?

The cosmetics industry earns a huge $160 billion dollars a year and in America we spend more on cosmetics than we do education. You would think that when times are tough, like our current economic recession, women would tighten their belts and spend less. However, a recent study shows that actually the opposite is true. During financial lows women spend more on cosmetics. The study also showed that the average woman age 16-24 has $108 worth of make-up in her collection and the average woman age 25-34 has $111. 

My exact thought when I saw those numbers was that I don't even want to know how much my collection has cost. I know it is more than $111 but I don't know exactly what and I am not sure I want to. The study proved that contrary to expectations women actual spend more on cosmetics during a recession, those conducting the research have theorized that it is because women spend money on things to make them look better, so that they will feel better. I know that is my problem. Sometimes I lack confidence, and I just don't feel attractive, or successful and I want to. So I "fix" myself by doing my nails or make-up and buying the latest trendiest thing. At the end of the day I know that I could buy L'Oreal's entire line but that none of it would make me look like Beyonce. I know it, but it doesn't stop me from trying. It is as if somewhere inside I believe that one day I will pick up that one bottle, or palette that will magically transform me into the woman I have always wanted to be. Watching Youtube gurus also hasn't helped. Most of them are about 15 years younger than me, reinforcing my delusions about finding youthful beauty at the bottom of a make-up pan, and they all have huge cosmetics collections that would put even my bloated one to shame. Unfortunately, I do not however posses and endless stream of cash and I need to put limits on my spending. I restrict myself to mostly drugstore cosmetics which allows me to make frequent "feel better" purchases without breaking the bank and lets me try out the latest trends without much risk. I also try to limit my spending. 

So one of the things I want to do on this blog is really examine this issue for myself. Try to curb my spending habit and try to examine what keeps me on this cosmetics hamster wheel when to be honest I have enough. So at the end of every month I will publish a "beauty and the budget" log, a list of purchases made that month along with how much I spent. Along with that log I want to publish a monthly article like this one, examining the reasons behind the spending and issues of women's confidence and self esteem and how the cosmetics industry cashes in on and in some cases can cause our insecurities. 

SOURCES: 

Recession Makes Women Spend More

The Economist

Do you know how much you spend on cosmetics? Have you ever examined your spending habits or the reasons behind them? Do you have any beauty insecurities that you struggle with? Share your feelings in the comment section below.