I think a lot of people don't know how money can work for them, nor their own time. They know "Time is money" but don't add a practical action to move on it.
I know some wealthy people - the cost of their car is a tiny, tiny fraction of what they own and compared to their investments, almost nothing. However, I know lots of people who drive pretty expensive cars - I think if people are spending more than a year's income on a car, they have a problem.
Much more discipline is required to save and grow, than to spend enjoying frivolously, some buy expensive shoes, watches, cars and live in shacks!
Good rule of thumb is don't spend what you don't have, the only time you go into written contract agreements is on a home and possibly a car, everything else save and pay cash.
Money on loan is never cheap, count the cost!
Most people seem incapable of visualizing these costs anymore.
Most dive into debt with no eyes open,
FOMO must have what everyone else has,
or plain and simply living far beyond their reach.
Have yourself a great day and thanks for posing questions people should think about.