Most north Americans and British have not known heavy hardship. The depression of the 30s was a lesson for that generation but it was not severe enough to pass on the lesson to the next genetations and what was passed on has quickly dissipated to be replaced by an attitude of prosperity, therefore spend your cash.

The Europeans who went through the depression followed by WWII had it harder. They learned to save for many rainy days and not to buy things until they had the cash in hand and would buy with enough reserves left over just in case those rainy days were tomorrow.

My father foremost said do not get into debt, save and buy only when you have saved to pay for it outright. I was told as a preteen to always have some cash in my pocket and not spend it on pop or bubble gum. My mother in more simple terms said to not put on your plate what you are not sure you will eat - i.e. waste not. These are just plain examples of the overall outlook and not thought at universities but at home.

While current state is, spend because you have credit and leave a trail of plastic wrappers and bottles along the way. Do not worry about tomorrow, it will take care of itself.