The Money Myth the Finance Industry Really Needs to Stop Telling Women

For years, the financial industry has leaned on an easy explanation for why women invest less than men: “They’re not confident enough.”

Too nervous. Too scared. Too unsure.

But new research from eToro’s ‘Loud Investing’ initiative makes one thing painfully clear: this narrative isn’t just inaccurate - it’s actively getting in women’s way.

The confidence myth and what the study exposes

Across 83 financial reports and campaigns reviewed between 2020 and 2025, eToro found that women are still overwhelmingly framed through a deficit lens.

More than half of all materials used negative language such as “lack confidence,” “too nervous,” or “don’t know where to start.” And when this language was tested on 2,000 UK women, the impact was clear:

• Negative messaging reduced motivation to invest, with 17% saying it made them less motivated.
• Positive stories had the opposite effect, boosting motivation by 44% when women were shown headlines celebrating their strengths.

What makes this even more frustrating?

Most women have never even been told the truth: which is that, when women do invest, they tend to outperform men as long-term investors.

When they are told the truth, nearly half say it motivates them to take action.

In other words: the problem was never women’s confidence. The problem is the industry’s story about women as investors.

The myths that hold women back (and why they’re wrong)

Before we talk about language, we need to talk about the common misconceptions we know hold women back from getting started investing.

These myths aren’t harmless misunderstandings — they’re some of the biggest barriers stopping women from building wealth.

And combined with the lack of representation in the financial industry, they create a perfect storm of hesitation.

Myth 1: “You need a lot of money to invest.”

Nope. You can start small as a lot of modern platforms allow fractional shares and small monthly contributions. Wealth is built by consistency not by dropping a fortune on day one.

Myth 2: “Investing is too time-consuming.”

Another myth that simply won’t die.

Long-term investing is designed to be simple - actually boring almost. Choose a diversified fund, automate your contributions, and let compounding do what it does best.

Myth 3: “You have to be an expert.”

You don’t need a finance degree, you don’t need to read charts at midnight, and you definitely don’t need to predict the market.

You need to understand risk, diversification and time horizon - the basics. Everything else is noise, often created by an industry that benefits from looking more complicated than it is.

And this is exactly where the eToro study becomes so relevant.

Because instead of dismantling these myths, the industry has often reinforced them by framing women as inexperienced, fearful or unprepared.

The study found women overwhelmingly associated financial messaging with words like “judged,” “patronised” and “frustrated.”

So no, women aren’t staying away because they lack confidence.

They’re staying away because the story being told about them doesn’t reflect who they are.

This community proves it: representation and role models change everything

At Female Invest, we see the truth every single day.

Women aren’t afraid of investing - we’re simply tired of not seeing ourselves reflected in the conversation.

And when that changes? Everything changes.

We’ve seen first-time investors become consistent monthly investors.

We’ve seen women share their first ETF purchase and celebrate their wins.

We’ve seen the gender investment gap shrink with every single small action you’ve made to change your financial situation.

The eToro study confirms what our members already show us: Representation matters. a supportive community is key, and language shapes behaviour.

When a sister, colleague or friend or another Female Invest member starts investing, the message is simple: If she can do it, so can I.

Confidence doesn’t grow in a vacuum - it grows in conversation.

In a space that doesn’t judge and without the jargon.

How to be part of the change: talk about money

If we want better representation, better language and better outcomes, we need one thing above all: more women speaking openly about money.

So here’s what we encourage you to do:

• Talk to your friends about your pension.
• Ask your colleagues where they invest.
• Share a podcast episode that helped things click.
• Tell your sister, neighbor, aunt and friend she doesn’t need thousands to begin.
• Celebrate your wins - also the small ones.

Money has been quiet for too long  and silence has never closed a gender gap.

Every conversation you start shifts the culture.

Every question you ask opens a door.

Every action you take moves us closer to financial equality.

We want to hear your thoughts

We’d love to hear how the study resonates with you.

Have you personally felt judged, patronised or discouraged by the language used around women and investing?

What made you take your first step or what’s holding you back today?

Share your thoughts in the discussion thread. Your voice might be exactly what another woman needs to hear to take action.

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Read the full study here