What this talks about is part of the problem. It is very easy for to treat yourself a little every time you get a raise and for that to become the new normal. I certainly did that when going from school to my first job and as my salary rose in that position. I had to really sit down and put together a budget before I could start saving.
Bigger parts of the problem are salaries not keeping pace with inflation and insane housing costs.
Yet another cause is lack of financial literacy. We aren’t taught how to budget and save. Some may be taught by their parents but many don’t get that. Schools certainly won’t teach financial literacy. That would hurt consumer spending and that wouldn’t be good for short term corporate profits and continued economic growth so it won’t be in our curriculums.