Why Women Are Better Investors Than They Think — And The Data That Proves It | With Professor Saumitra Jha

Most of us have heard of the gender wage gap. But there's another gap that gets far less attention — the gender investing gap. And according to new research from Stanford, the fix might be simpler than anyone expected. In this episode, we sit down with Professor Saumitra Jha, Associate Professor of Political Economy at Stanford Graduate School of Business and Senior Fellow at the Freeman Spogli Institute for International Affairs. He joins us to share findings from his groundbreaking study published in The Economic Journal (January 2025), co-authored with Moses Shayo, which reveals that simply participating in stock trading — even in a study setting — measurably closes the gender confidence gap in finance.

WHAT WE COVER

— How the gender gap shows up in investing: lower participation, lower confidence, and less financial risk-taking — even among women with strong educational and career credentials.

— Why the confidence gap may matter more than the knowledge gap. Confidence, participation, and knowledge are mutually reinforcing — and breaking into any one of them can shift all three.

— The surprising findings from the study: women who participated in the trading experiment were more engaged, answered more factual questions correctly, and ended up with at least comparable — if not slightly better — investment returns than men.

— Why men in the study actually became more reserved in their self-assessments over time, while women grew in confidence.

— How women can take their first steps into investing: practical, low-pressure ways to build familiarity, knowledge, and confidence with markets.

Access Professor Jha's paper here: https://siepr.stanford.edu/publications/working-paper/trading-stocks-builds-financial-confidence-and-compresses-gender-gap

Learn more about Banking On Girls Mother-Daughter Workshops here: https://mom-daughter-workshop.lovable.app/

This International Women's Month, we're zooming out and looking at the bigger picture of where women stand financially, what's holding them back, and what each of us can do about it.

The numbers are sobering. The World Economic Forum estimates it will take 123 years to close the gender economic gap at the current pace. Women are expected to accumulate just 74% of the wealth men do over a full working lifetime. And yet — when women do invest, research shows they can achieve better returns than men. The gap isn't ability. It's access, knowledge, and confidence.

In this episode, we explore:

• Why financial literacy is the lever — and why the gender gap in investing is one-third a confidence problem, not just a knowledge problem

• The age-seven finding — research from the University of Cambridge showing that many money habits form before age seven, and what that means for how we raise financially capable children

• The silence that has a cost — why money being treated as taboo in so many households hits girls hardest, and what happens when we break that silence

• The generational ripple effect — why financial literacy in one woman doesn't stay with one woman

This episode is for anyone who believes the 123-year timeline is unacceptable, and wants to understand the role they can play in shortening it.

For more information on Banking On Girls Mother-Daughter Workshops go to: https://mom-daughter-workshop.lovable.app/

• What I've been up to and what's coming this season

• Why moms and daughters learning together makes all the difference

• The moment teen girls realize time is their biggest financial superpower

• The emotional side of money nobody talks about

• How a shared financial language turns conflict into connection

• Learn more about the workshops: https://mom-daughter-workshop.lovable.app

• Subscribe wherever you listen to your favorite podcasts

In this REWIND episode, I speak with Josina Kamerling from the CFA Institute and discuss how parents can help their kids, especially girls, think critically about the financial advice they encounter on social media. We cover essential conversations that empower children to evaluate information effectively and build a solid understanding of money management.

For those interested in more on this topic, this episode references Josina Kamerling from the CFA Insitute's paper The Finfluencer Appeal: Investing in the Age of Social Media.

In this episode of Banking on Girls, I sit down with Dr. Darla Bishop—author of How to Afford Everything, Madeline's Money Adventure (for ages 4–8), and How to Afford College and Grad School. Darla brings her signature mix of humor, wisdom, and real talk to help people of all ages build a healthier relationship with money.

From being a doula to a military spouse, healthcare consultant, and now a voice in financial education, Darla shares her own money journey—and how she's raising her daughter to be money-smart and confident.

We talk about:
💸 Why so many people are afraid to look at their finances
🎓 Smart ways to pay for college and grad school (especially if you have more than one kid heading there!)
👩‍👧 The impact your words have on your child's money mindset
💡 How to build financial habits that feel good—not guilt-ridden

Resources:

Where to find Darla Bishop: darlabishop.com/social

Darla's free resources:

https://na01.safelinks.protection.outlook.com/?url=https%3A%2F%2Fhowtoaffordeverything.com%2Fresources&data=05%7C02%7C%7Ca888a0777ec54dbc07b708ddc5b713ef%7C84df9e7fe9f640afb435aaaaaaaaaaaa%7C1%7C0%7C638884112292568888%7CUnknown%7CTWFpbGZsb3d8eyJFbXB0eU1hcGkiOnRydWUsIlYiOiIwLjAuMDAwMCIsIlAiOiJXaW4zMiIsIkFOIjoiTWFpbCIsIldUIjoyfQ%3D%3D%7C0%7C%7C%7C&sdata=rPrYolv3WmXgnV2V1IoWEShfWQmRj%2FcHDyLHBlr7aPU%3D&reserved=0

In this follow-up to Episode 61, I return with Part 2 of my reflections from the United Nations Commission on the Status of Women (UNCSW69), where I served as a delegate with the FEZANA NGO. This episode dives deep into the intersection of gender, technology, and financial inclusion.

💡 In this episode, you'll hear about:

• The dangers of AI bias—from credit access to deepfakes targeting women

• Why women must be involved in developing ethical AI frameworks

• Global examples of regions building inclusive AI models (Canada, EU, Singapore)

• What questions we must ask to ensure AI equity

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👉 Follow and share to keep the movement growing.

In this powerful episode of Banking on Girls, I take listeners inside the 69th United Nations Commission on the Status of Women in New York, where I attended as a delegate with the FEZANA NGO.

From Kyrgyzstan to Latin America, the stories shared at the UN revealed a deep and urgent truth: climate change is not just an environmental crisis—it's an economic and gender justice crisis.

You'll hear:

• Why microfinance matters more than ever for women in climate-affected regions

• The problems with loan-based aid—and the need for grants and true financial partnerships

• Insights from global leaders like Bridget Burns (WEDO) and Young Hee (Adaptation Fund)

• How programs like Agro-Mujer empower women without land ownership

• Why women and girls must be seen as agents of change, not just aid recipients

🎧 Listen now and stay tuned for Episode 62, where we explore how AI and tech are impacting women and girls globally.

In this special episode recorded live at the 2025 Milken Global Conference in Los Angeles, I sit down with Adam Mendler, entrepreneur, keynote speaker, and host of the top-rated podcast Thirty Minute Mentors, where he's interviewed more than 500 of America's most successful leaders.

Together, we discuss:

• Highlights from Milken 2025

• What Adam has learned about leadership from hundreds of top CEOs and changemakers

• The difference (if any) in how women and men rise to the top

• Why starting early and staying the course is the secret to building real wealth

• What parents and mentors can do to raise confident girls in a shifting economic landscape

• And the one piece of advice Adam gives to every future leader: "Be a good person."

🎧 Tune in and share with someone raising the next generation of changemakers.

For more information on Adam and Thirty Minute Mentors:

https://adammendler.com/podcast/