In Stylist’s new digital series In the Red, we investigate how debt is really impacting young women in 2022 – from our connection with credit cards and shopping to examining how debt informs our relationships, our beauty regimes and the way we operate in the world. 

Everyone has a passion they’re committed to that must be attained at all costs. For many women, it’s beauty. No matter how low the bank balance or how deep the overdraft, money will always be found to preen and pluck, to shape eyebrows, manicure nails and hydrate skin.

Beauty routines are personal. For many, they are a form of essential self-care and a part of our every day that makes us feel good. But, beauty is also big business. The UK beauty industry is set to be worth around £12.03 billion in 2022 and shows no signs of slowing down. It remains one of the only industries that continues to enjoy a boom period even in times of economic recession.  

It’s become a normalised part of life to keep up with our beauty routines, and for many it’s a necessity. In 2020, £587 million was spent on beauty in the UK alone. 

As the beauty industry expands, with more innovative technology, non-invasive tweakments and beauty standards that are harder and harder to meet, it’s no wonder beauty and our finances have collided.

“It’s not surprising how much money women invest each month in their beauty regimes. Hair and beauty treatments are seen very much as an investment rather than a cost,” Jody Riley, founder of Pamperbook, has previously said. “I know from personal experience as a professionally trained beautician and someone who follows a regular hair and beauty regime that it’s an essential ritual for women to look and feel their best.’’

Expansion in the beauty industry has also meant more women are finally being properly catered for. For Muslim women, halal beauty has filled a huge gap that was for a long time ignored. Muslim consumers are big beauty spenders and halal beauty makes it easier for people to distinguish what products are in line with their religious beliefs.

Beauty is a hugely important factor in many Muslim women’s routines. The worldwide halal cosmetics market size was valued at $29.13 billion (£22.6bn) in 2020 and is predicted to increase by 20% by 2027. Big industry names are also getting in on the act with L’Oréal and Unilever creating halal beauty products for Muslim majority markets.

This means more and more women are treading what has become a very fine line between beauty and financial means. It’s something Dee, a Muslim woman based in the USA, can relate to. “About 99% of my beauty spending is on skincare and I spend about $6,000 (£4,500) on skincare a year,” she tells Stylist. “Feeling good, regardless of how I look, means more to me than keeping out of my overdraft.” 

“In the past when I needed something and funds were low, I’d use my credit card to make beauty purchases. If my finances suddenly changed, I’d stop buying new clothes and other ‘wants’ before I’d stop buying skincare,” she continues. “I understand I don’t need to spend on beauty, but I simply enjoy it. For me it is less about beauty standards and more about ageing gracefully, expressing my creativity and having a safe space to experiment and try out new things.”

Some Muslim women have turned to credit cards and loans to pay for their beauty expenditures causing financial strain. Ayesha*, 32 and based in London, uses buy-now-pay-later schemes to purchase cosmetics and skincare.

“At the moment, I’m on maternity leave, which means that I don’t have much income,” she tells Stylist. “Since having a baby I feel like my confidence has taken a hit and I want to look fresh and awake. As I practice modesty, I try not to wear anything that would draw attention to my features, so I like the no-make-up make-up look. I invest in skincare, glowy serums and primers, blushers and nude lip glosses. 

“I just can’t seem to get enough. I always want more and more. I do feel down when I use credit to buy these things, but I get influenced a lot by TikTok beauty trends and I feel like I need everything I see.”

For decades the beauty industry has sold creams and lotions as the means to achieve youthful looks. Setting societal ideals about what we recognise as beautiful creates a hierarchy of beauty, in which women, in particular, are told to strive for the top, even when it’s near impossible to attain.

“Social media has played a massive role in this,” Mark Evans, an independent financial adviser at Prosperity Wealth tells Stylist. “The ‘highlight reel’ of everyone’s lives – it’s no wonder we’re all facing pressure to be at the top of the food chain.” 

Nikita*, 23 and based in London, says she spends more than she should on beauty – often fuelled by social media. “I try to spend around 50% of my earnings each month, but I do end up taking something out to buy a new lipstick I’ve seen or a new concealer,” she tells Stylist. “I will see something on Instagram or TikTok and I want it; it’s a little unsettling feeling that won’t rest until I get it. Often it’s a case of spending more than I have and then I suffer later on in the week. But it makes me feel good and I love the satisfaction of hearing others say my skin or make-up looks really good.

“I put it down to being in that phase of growing up, becoming a woman of my own, figuring out what I like and dislike and my personal appearance is a part of that.”

For everyone, it seems their beauty regime is something that runs deep and they are prepared to spend money on it to feel good.

“My skincare routine is good for my mental health,” says Dee. “It’s something I’ve bonded with my sister, mother and aunt over. For me, it is about more than how I look.”

“My skincare has become a ritual,” says Nikita. “I spend the money and time to give therapy to my face and it’s dedicated time I set aside for myself that I don’t get that often. I don’t mind spending the money on that.”  

*Name has been changed

Images: Getty; courtesy of interviewees