I wonder if the cause of financial stress is the credit/loan system. I think there is a cultural difference, which - in the US - encourages people to get loans

I wonder if the cause of financial stress is the credit/loan system. I think there is a cultural difference, which - in the US - encourages people to get loans and buy things they cannot necessarily afford. While elsewhere you’d save up and then buy the thing of desire. *this is a little too general and doesn’t apply to everything (e.g. houses etc)