Vivian nailed it
"immediate gratification Vs investment.
If you grow up with little certainty about the future, you grab the little you can asap.
Being able to give up pleasures in the belief that you'll get more later involves believing in that future and even considering the future.
It's a mindset that is part of culture and education."
Yes it is mindset more than anything I think. I work with kids who are up against all the odds, living beneath the poverty line, parents not been to college and what I see is the kids who still do well from this demographic, develop that mindset of understanding they will have to delay gratification and many young people do not want to do that- let's face it many adults don't want to either which is why they borrow money to get the things they want today rather than save up for them.
The culture of the family is very important too and the parents often help kids develop that mindset but it can come from the child too. If kids are on screens constantly, they are not learning other things which help them develop that mindset that leads to success.
My husband was raised in poverty, addiction, terrible feckless uninvolved dad, mother with mental health issues so his schooling was interrupted and he got only a few gcses.
BUT he says he remembers making the decision he would have a great life and none of these circumstances were his fault. He knew there was another way of living life despite not living that life as a child. He is now 'more successful' than the average person as our society seems to measure it and earns in the top %5 but he tells me when you are poor you NEVER delay gratification because the money you have in your hand you may not have tomorrow so you spend it all fast and take the pleasure today to ease the hardness of life.
He had to learn to delay gratification with spending money and I still see that tendency in him but he is intelligent, willing to work hard but crucially he said he knew there was a better life possible and he would carve that out for himself. Mindset is everything and your family helps you develop it but some of it comes from you-and not everyone can generate the will to work hard, delay gratification, move far away from close family to pursue job opportunities. There is truth in so many of these posts but even if everyone was given the same start in life, not everyone wants to work 50-70 hours a week through their 20s and 30s, giving up time off to relax and have fun, so not everyone ends up with the same life circumstances. I say this not underestimating the tougher obstacles that children who are less privileged, or not white face - that stuff makes everything harder but people can overcome this disadvantage, but it takes a lot from them individually, hard work and some sheer luck of being in the right kind of job that pays a higher than average salary. Class/wealth, family culture, mindset, but I think mindset may trump them all. If you develop that you give yourself an ACE card in this unfair game of life.