Part of the nations psyche

Another reason for this is that people don’t remember the bad times i. e. the depression. Many have a sense of security that has developed because of the structure laid out by the public sector through social security and unemployment benefits. In reality when and if things get that bad the state will not be able to support its people to that extent and those with little or no savings will be in a lot of trouble.
The form of money is also a problem. It’s no longer just coins and banknotes, money is now cards and spread through the internet. People have lost their sense of money. Credit cards seem to perpetuate the feeling that there is an unlimited supply of money that one has. Most people just keep spending more and more without realizing that eventually, the money will run out. As opposed to this if they had a physical set amount in their hands they would have to be much more careful how they spent it because they would be able to see exactly what they were doing to their money.
Popular culture is another culprit because it promotes the materialistic attitudes that people have. Most people want to copy the lives of their favorite characters on screen. In order to make their lives like those of the character, they are willing to spend a little more. The country’s media system is one of the most developed in the entire world and hence has a huge influence over the core population.