5 ways your genes could affect your finances



Our genes determine more than just our height and hair color—they can also influence whom we feel passionate about and whether we should wear perfume. But did you know that your genes affect many of the money decisions you make too? From how immune you are to making impulse buys, to whether or not you’re prone to committing common investing mistakes. Lately, researchers have been delving into just how hardwired our money habits are. However, when it comes to your finances, biology isn’t destiny


Most of us just can’t keep money in our pockets. Most individuals have the tendency of misusing the little money we earn. They prefer getting money in bulk rather than in bits. That’s why people plan their finances better with the end-month pay rather than daily or weekly pay. Very few people have the self-control gene that makes us immune to spending temptation. However, there are times when you need cash. You don’t want to stay broke. Having a money mantra will always help. Say ‘I’ll do this when I get this amount of money.’

Overlying on one area

Once we get a good opportunity, the psyche to venture always diminishes. We tend to rely on that one area alone, putting all our eggs in one basket. This is the reason why people get depression once they are fired. It’s also the reason why businesspeople go bankrupt once their single investment flops. Our genes sometimes prevent us from being adventurers. People who are naturally adventurous tend to make bold steps when making investments. They may strike it very big or fall hard. If your genes are risk averse, you are better off saving and accumulating wealth slowly.

Chasing hot opportunities

Take an example. Your friend is doing really well in the blogging and tabloid world. You say to yourself. ‘Why don’t I do this too?’ so you get some cash, start a personal website then end up not being as successful as your friend, not even close. By this time, you have wasted a lot of time and effort. Effort you would have put into something that you are strong in. Our genes always motivate us to copy others who are doing well without stopping to think why and how they have done it. Stay in your lane and venture into something you are passionate about. Find out what you are naturally good at doing and love doing then look at ways of monetizing your passion.

Obsession with property

Genes make us buy what we don’t really need to impress people who don’t care. Rushing to buy a windows phone just because it looks big and cool, yet you really don’t know what its features are is a big mistake. Buy things that improve your life. Multi-colored clothes might make you feel cool but in essence, you look childish. Why rush to buy a big gigantic TV whereas you live alone and you are rarely at home. Prioritize things.



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