Are you feeling guilty of overspending and not being able to control the money splash? Well, blame your debt gene for this uncontrollable itch, says a new study.
A recent research from the London School of Economics and the University of California has claimed that some of us may actually have a debt gene which makes us predisposed to over-extending on the credit front.
According to co-author Jan-Emmanuel De Neve of the LSE (and quoted on smartmoney.com), humans have "a set of genes whose expression, in combination with environmental factors, influences financial decision-making".
The little bit of DNA is called the MAOA gene, which apparently can degrade neurotransmitters in the brain that regulate such things as impulsive behaviour.
A study involving some 2500 US young adults (18-26) found that those with a "low efficiency" MAOA gene were more likely to be saddled with credit card debt.
This means that they were more likely to seek immediate gratification rather than weighing up the consequences first, reports the Courier Mail.
It is believed that if one carries the wrong variants of this gene (which is also linked to addictive behaviour), there are chances that his or her unpaid bills on the plastic could increase by up to 16 per cent.
And as with most genetic conditions, there is no easy cure for the problem.