Do you find it difficult to cream off part of your paycheck at the end of each month? It's partly down to your DNA, new research has found.
Researchers Henrik Cronqvist and Stephan Siegel crunched data from Sweden's twin registry to analyse the net worth of identical twins and non-identical twins between 2003 until the end of 2007.
They found individuals' genetic make-up can explain around 33 per cent of variations in individual savings rates.
"Analysing a large sample of identical and fraternal twins matched with data on their savings behaviour, we find that genetic differences explains about 33 percent of the variation in savings propensities across individuals," the research paper said.
Parents can instill financial literacy by giving kids a weekly allowance or letting them earn money through chores. But while this may stay with them throughout their twenties, the effects will wear off over time.
"Individuals are born with persistent genetic predisposition to a specific savings behavior," the research paper said. "Parenting contributes to the variation in savings rates among younger individuals, but it decays over time."