In today's social media-driven world, the 'Girl Maths' trend has taken centre stage, shedding light on the fascinating interplay of behavioural biases and heuristics in our everyday lives. Much like the buy-now-pay-later mentality, 'Girl Maths' is an enticing mindset encouraging individuals to splurge beyond their means.

Dr Janneke Blijlevens, a Senior Lecturer in Marketing at RMIT University and an RMIT Behavioural Business Lab and Consumer Wellbeing Research Group member, lends her expertise to decode this phenomenon. She emphasises that marketing tactics have become so ingrained in consumers' minds that they no longer require external persuasion to rationalise their spending decisions.

Dr Blijlevens is also an RMIT Behavioural Business Lab and Consumer Wellbeing Research Group member. With expertise in consumer decision-making and behaviour change, she frequently comments on decision paralysis, choice overload, marketing tactics used to influence consumer decision-making, the psychology behind purchase decisions, and how to design behavioural interventions to help people make better decisions for their own well-being.    

Dr Blijlevens delves into the role of cognitive dissonance, confirming biases, and mental accounting in 'Girl Maths.' When you desire a costly dress but are aware of the financial constraints, these biases and shortcuts come into play to bridge the gap between desire and fiscal responsibility. She says, “Our brain has a lot of decisions to make in a day and simply doesn’t have the energy and power to scrutinise every little detail of every decision,” adding, “You justify buying the dress because you have several events coming up, which means you’ll wear that dress at least four times and won’t have to buy dresses for those other occasions. And we all know considering cost-per-wear is being financially literate and savvy,” Dr Blijlevens says. 

“However, you are ignoring the fact that (1) your bank account is still going to show a deficit if your disposable income does not match this expense, (2) you could re-wear a cheaper dress all the same, and (3) your power and gas bills will have gone up by the time you wear it for a third time.” 

These shortcuts in our thinking facilitate the decision-making process. Unfortunately, these shortcuts, or biases, are not always helpful to us in making the best decisions. Dr Blijlevens says, “Girl Maths is a perfect display of cognitive dissonance, confirmation bias, and mental accounting being applied to consumption decisions.”

Dr Angel Zhong, an Associate Professor of Finance, highlights the influence of 'finfluencers' and cautions that young and inexperienced investors are particularly vulnerable to their impact. 'Girl Maths,' she points out, fails to consider opportunity costs and the time value of money, neglecting the erosion of purchasing power due to inflation and the potential for better investment opportunities.

Dr Lauren Gurrieri, an Associate Professor of Marketing, takes a critical stance on the term 'Girl Maths.' She argues that it perpetuates stereotypes that link women with frivolous spending, highlighting the need for more inclusive and gender-neutral language in discussions around financial decisions.

Dr Gurrieri states, “Rather than a logic that speaks to purchase justification and cost-per-use, the term is unnecessarily gendered.” Adding, “The use of ‘girl’ as opposed to ‘woman’ also signifies sexist language.” It implies someone is childlike or lacking in knowledge or experience. Accordingly, the term operates to demean and exclude on a gendered basis. 

While intriguing, the 'Girl Maths’ trend serves as a stark reminder of the psychological mechanisms at play when we make spending decisions. Understanding these biases and heuristics can empower individuals to make more informed choices and avoid falling into the 'Girl Maths' trap. Moreover, as Dr Gurrieri aptly points out, it underscores the importance of responsible content creation that promotes gender equality and avoids perpetuating harmful stereotypes.