While some people are just struggling to afford rent and groceries, there are many who are willing it seems to put themselves further into debt to temporarily get some enjoyment and entertainment.
A number of Americans are still willing to put themselves into debt for dining out or buying concert tickets, even if this might not be a good recipe for success it preparing for tomorrow is continually put off indefinitely. For those who might never dream of owning their own home or having enough to build a family, why shouldn't they enjoy today a little? You only live once you'll hear many times over as a reason for why people might spend today instead of saving for tomorrow.
Does it mean everyone is drilling themselves into debt to enjoy dinner and concerts? No, there are even some on the opposite side who are engaging in social media trends like no spend challenges to try and save for one goal or another. What's the point in saving for decades though if you are never going to enjoy your life a little? You might put it off for a tomorrow that will never come.
We've been on pretty much a "no spend" budget since Covid chopped our businesses to near nothing... and I don't see that turning around.
Meanwhile, our adult kids seem to waste huge amounts of money on "convenience food" because their work hours are really long. But getting Taco Bell via Uber Eats is a speedy proposition...
for many they cannot afford a home, healthcare services, vacations, entertainment, at least they can still somewhat enjoy their life with buying food they like... for now lol :) until a mcdonalds or taco bell meal is $30 for one taco..gotta love the death spiral of fiat garbage currency