Having a particular genetic makeup raises people’s likelihood of reporting credit-card debt by about 4pc, according to a study of some 12,000 individuals by Jan-Emmanuel de Neve of University College London and James H. Fowler of the University of California, San Diego.

There is growing evidence that genetic variations affect people’s financial behaviours; the variation shown to affect credit-card debt involves alleles of the MAOA gene that are linked to impulsivity and reduced conscientiousness. There is no single ‘debt gene.’

(Source: Journal of Economic Behaviour & Organisation)

Published in Dawn, Economic & Business, February 2nd, 2015

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