People in the past, were used to the debt system, where the middle and upper class in the society helped the working class. A debt is the sum of money that is borrowed for a certain period of time and is to be return along with the interest. Shops owners, such as supermarkets, clothing store and bookshops, allowed buying goods without the need to pay on time; especially during school times and my grandfather was one of the few bookshop owners that helped people buying books without asking for money on time.
However, in present day, young adults are borrowing money from banks, such as credit cards, and from relatives, friends and co-workers for more luxurious stuff. The need to show-off in societies and communities is now considered an issue. Families in debt still plan parties and social event just for the sake of word-mouth and gossip.
In my opinion, this behavior has many reasons, and the main one is to show-off a certain lifestyle in a closed community. But some workers are in debt because of family responsibilities, such as school fees, school costumes, books and stationery. Psychological factors such as impulsive behavior, present bias, lack of self-control, and financial literacy can influence debt behavior
Such problem asks for urgent solutions. The governments could raise the minimum wage, banks could specify a debt system with specific rules, consider consulting from a professional financial advisor and last but not least, to adjust the budget and to submit more than the minimum payments.