Perhaps it is an ongoing thing. If people are raised by parents with the same attitude of not having enough, they will grow up not knowing how to overcome the cost of living.
Some may have had parents whose prime importance lay in entertainment, holidays: enjoying themselves, at the expense of house maintenance and bills, ending in crippling debt and without the ability to repay and demonstrate they can. Charles Dickens had something like that in all his novels, as did Jane Austen, so nothing new there, is there>
I was talking to someone not long ago about credit cards. I said I paid the balance of mine off each month and never pay interest. It was a shock when they said ''Can you pay it all off? I thought you only paid the minimum payment!
That was a new one for me. I had no idea that young people thought like that. A large part of their income was going in interest payments. It isn't easy to pay the balance off each month. You have to be strong with spending for a while, and get the balance down to something you can pay with income. Not only do you not have to pay a lot of interest over the year(s), but you learn to control your budget and discover a lot of the things can be done without.
If you never max out a credit card, you have money available for emergencies - so long as you don't have too many of them.
Note to OP: I am speaking generally, please don't take the 'yous' literally.