I think that as others have said we have both an income issue and a spending problem in our society. We spend a lot on food and such, which feels like a necessity, bit part of it is we eat out a lot and even the groceries we buy are "fancy". People need special craft roasted coffees and fine cheeses. Otherwise the photos we take to show everyone how awesome our lives are won't be as good!
And then you get to the trips with the guys/girls. I'm not super old, but a stag used to be a night out on the town after a good dinner. Now guys are flying to Vegas for a weekend, partying and going to shows and all kinds of insanity. The urge to go is there because all your friends are going and FOMO is the real deal with social media! Not only do you skip going now, but you get live updates as it happens on what you're missing and it's got to be so damaging to peoples mental health.
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