You may have heard of ‘frugal chic’. Is it just another way to justify buying something you don’t need?

Sign up to ST InvestMe and unlock full access to exclusive insights and financial literacy courses today.

SINGAPORE – I spent most of 2025 being as responsible as I could with my money.

I was considering the costs associated with giving birth and a new baby, and also budgeting for a larger car to accommodate my growing family. 

Did I enjoy being responsible? I think I rather loathed it because it had got to a point where I became overly restrictive with my wants.

So in December 2025, when I chanced upon Britain-based finance content creator Mia McGrath – a 25-year-old who had invested £100,000 (S$170,000) by the age of 24 and expounds a “frugal chic” lifestyle that encourages people to “live luxuriously” while “spending intentionally” – I was intrigued.

Her @frugalchicofficial Instagram account speaks to Gen Z and millennial women who aspire to be financially secure and independent, with posts such as 5 Wealthy Habits That Made Me Richer, 20 Unsexy Money Moves That Actually Work, and 5 Books To Become Dangerously Financially Literate. 

Is it a grown-up alternative to “girl maths” or just another label to justify discretionary spending? Whatever it is, it certainly renewed my motivation to continue being financially responsible. 

GirlMaths went viral in 2023 after New Zealand FVHZM radio hosts Fletch, Vaughan and Hayley used it to justify expensive purchases based on cost per wear or treating cash as free.

I dropped Ms McGrath an e-mail, curious to dig deeper.

First of all, “frugal chic” is worlds apart from “girl maths”, the latter of which is an “amusing trend” according to Ms McGrath. She finds that it becomes problematic when one uses it as an excuse not to pursue financial literacy. 

“For example, ‘I don’t budget; I’ll just use my boyfriend’s credit card’, or using retail therapy as a viable coping mechanism – ultimately, these strategies don’t serve women in the long term,” she said.

“Girl maths is often an expression of accepting the system that women don’t need to know about investing, equity or business because it’s ‘too complicated’.” 

Ms McGrath was also quick to clear up a common misconception about the frugal chic philosophy – that it is an extension of the “underconsumption” trend or about being cheap.

“Cheap suggests going for the lowest price or budget option every time, even if that means more inconvenience,” she explained. “Frugal chic aims to pick the best value. So it’s value-based spending.”

It is more about buying or investing in things that have a high return on investment in health, finances, relationships and time, she added.

It is also about honing one’s discernment or taste, which can be developed when one eliminates distractions and mindless spending.

“People often think it’s just about buying less but buying better. That is part of it. But reducing it to just capsule wardrobes or minimalism is a misunderstanding,” Ms McGrath said.

“It’s about the individual undergoing a slow journey to understand themselves better, find their priorities and values.”

The misunderstanding of the minimalist aesthetic stems from the highly curated visuals associated with frugal chic, with clothing and styling resembling the late American publicist Carolyn Bessette-Kennedy. 

She was the wife of John F. Kennedy Jr – an American businessman and son of the 35th US president John F. Kennedy – and was well known in the 90s fashion scene for her polished grooming and simple, tailored style in neutral colours. The 2026 television series Love Story is a dramatisation of the couple’s relationship and tragic deaths.

This aesthetic is intentional, confirmed Ms McGrath, as Ms Bessette-Kennedy’s style was not about chasing trends or having to prove anything. 

“Because of her role and the level of public attention she was under, everything about her felt deliberate. She didn’t over-explain herself, and she didn’t rely on excess to communicate status. Her image did the work,” Ms McGrath explained.

“It’s not about minimalism for the sake of it or copying a 90s wardrobe. It’s about discernment. Choosing fewer things, but choosing them well. Having a clear sense of what aligns with you and ignoring the rest.”

Frugal chic is also about cultivating life skills such as networking, building a personal brand and learning about business. 

Ms McGrath said that while her social circle of immediate close friends has remained the same, her network of acquaintances has grown exponentially.

“In order to gain access to greater opportunities and increase the chances of luck and an unfair advantage, you have to proactively seek that out,” she said.

“Something I will always remind myself is that networking isn’t about who you know, it’s about who knows you. It’s not about chasing fame, but if one post can reach 300,000 people in one go, that’s a true form of leverage.”

She acknowledged that having her identity tied to the word “frugal” can sometimes be limiting. “It’s not because of the philosophy itself. It’s people misunderstanding it or thinking frugal is about being cheap.”

Ms McGrath said that though her income in the last year has increased dramatically, her spending remains the same. But she finds that she is met with scrutiny when she indulges “now and then”.

“My friends often say, ‘just live your life, who cares’, or if I tell them about gifting or an opportunity, their reaction is just to take it – anyone else would. But for everything I do, I carefully judge how it will be perceived. I’m very open and honest on my page, which is one of the reasons I’ve grown, but at the same time I want to keep some things private – it’s a hard line to get right.”

Ms McGrath began posting content and being transparent about her money on TikTok in June 2024, in addition to her day job and modelling on the side. She eventually earned enough to quit her day job in a fashion agency by September 2025.

According to a social media post introducing herself, Ms McGrath started building her savings “obsessively” after two male friends at university showed her their financial portfolios.

“It felt like a secret boys’ club I wasn’t invited to,” she wrote.

She currently promotes her frugal chic lifestyle on YouTube, Spotify and Substack, and has a free newsletter. She also does speaking engagements and offers a mix of paid and free content. According to her LinkedIn profile, she has around 700,000 followers.

She earns around £500 a month from subscriptions on her Substack account and, on occasion, will do a collaboration which “could range from £3,000 to £4,000” depending on the brief and deliverables. 

Having reached her initial goal of investing £100,000, her next goal is to become a millionaire in her 30s.

As for me, my most pressing need was a mindset shift.

I have not had to make major changes to my lifestyle, given the finance system I already have in place, but living the frugal chic philosophy in the last four months has made me more strongly convinced of the soundness of my financial decisions.

With full acceptance and ownership of my spending, I also find I have fewer instances of buyer’s remorse and “oh poor me” moments.

This “being responsible with my money” thing – I could even begin to love it.

How I live my frugal chic life: