[GirlySports]

i think the issue goes back further than spending habits.

To me the problem stems from everyone having a degree.
A. Degrees cost a lot of money (students graduate in debt)
B. Not everyone with a degree can find a job in their field
C. Wages are stagnant

So most people on their 22nd birthday are at net negative.
How many universities are there in Calgary now? 4? UofC, SAIT, Mount Royal, St. Mary's? Columbia College? Then it goes further into designations.

30 years ago there were less people with degrees. HS diploma then straight into the workforce. Trades, blue-collar work. Even white-collar work at a basic level took just a HS diploma. Good luck now.

So more people started back then at net positive working straight out of high school, saving their money and investing it in cheaper homes.

Today students are in debt, difficultly finding jobs due to abundance of people via for the same types of jobs, and spending too much plus housing prices are too high.