Trapped In The 'Hot Girl Hamster Wheel'? Why Beauty Spending Could Be Sabotaging Your Financial Future

When it comes to money, women face a number of unique challenges. "Rich Girl Nation: Taking Charge of Our Financial Futures" author Katie Gatti Tassin says one of these challenges is underdiscussed and majorly impactful: beauty spending.

Beauty costs can be an "insidious force in women's financial lives," Tassin told CNBC. 

For many women, beauty spending is necessary to maintain what Tassin describes as "acceptable feminine appearance." However, because treatments like manicures and Botox are recurring, they create what she's termed a "hot girl hamster wheel," where you're always having to spend more and more to maintain the effects.

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"Beauty is a depreciating asset by design," she told th CNBC. "Unlike investing in actual capital— which will grow with time, it will become more valuable— when you invest in beauty, the opposite is happening. It's going to require more cash to extend that half-life." 

This "hot girl hamster wheel" is not accidental, Tassin says, but was intentionally designed by the beauty industry.

"My perspective is that women are socialized to view beauty as the most powerful and important social capital that is worth their time to pursue. But I do think as individuals, we have the ability to positively influence one another and give one another permission to opt out," she told CNBC.

"We know that ‘pretty privilege' is real," Tassin continued. "So in some ways, it's a rational path to start walking down because you sense that there is some return on that investment." 

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Because finance is still such a male-dominated industry, Tassin says very few people are talking about how expensive beauty routines can negatively impact your financial situation.

Tassin's advice as a money expert is to have a "hot girl detox."

"It's just about giving yourself the gift of that insight by sitting down, doing the simple math and then getting curious," she told CNBC. "You list out all the beauty and personal care spending that you do in a given year, and you annualize those costs. You're going to figure out how they relate back to what you're bringing in income. You're going to start at the bottom and experiment with removing one thing at a time and seeing how it feels."

Once you've cut back on your beauty routine and freed up some extra cash, Tassin says it’s time to make that money work for you. She suggests starting with paying down debt, before building a savings cushion, and then investing.

"Investing for your future is the best possible thing you can do," she told CNBC. "It’s the best gift you can give yourself." 

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