Another piece of it is that many people think that if they want an education, they can finance it with loans. It is so commonplace that people do not even question doing that. Debt is a 4 letter word, and that is also such a common American thing. People want a certain standard of living and cannot afford to live the way they want and do live. Debt is huge for many people, but they have to have new cars, live in certain neighborhoods, have certain clothing, phones, etc. There has been so much eating out in America, and the cost of that is something that many do not even think twice about. People want what they want and have no reality of how to live within their means, nor thought about how to live to prepare for old age.
I recently learned that someone I know and her husband lost their home 2018/2019. They are around 60. She has always spent money on what she wants. She doesn't answer her phone because of bill collectors. She cannot even open a bank account because her finances are such a mess. Husband works, but she does not. She spends money foolishly. I know another couple who are of retirement age with no money. Wife did the same thing with their money, spent it foolishly, lots of it, and they are broke. They lost their home as well, because of her spending habits. I know another couple. Wife has never wanted to work, but wants to spend money like crazy. They live with her mother, to help afford her desired lifestyle. If she got a job and worked long hours, she wouldn't have as much time to spend money she doesn't have. These are three couples that I know. I can only imagine how bad it is for many people, especially if both spouses have no idea how to live within their means.
Every h.s. should have a class in practical finances. So many people are completely lacking in knowledge or awareness of money.