What do you think are major reasons for degradation of financial situation of a family?

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I think the following are the major reasons for degradation of financial situation of a family 1. Everyone in family owns smartphone 2. Vacations under social pressure 3. Buying a car as a status symbol 4. Avoiding home made food and unnecessarily eating out on weekends 5. Brand conscious for salons, parlours and clothes. Spoiled lifestyle is increasing medical expenses. 6. Trying to make Birthday and anniversary special by spending more money rather than time together. 7. Grand weddings and family functions 8. Commercialization of schools and tuitions, education. 9. Spending what you haven't yet earned... loan and credit card . 10. Spending tons of money on interior of house & office and increase of the Maintenance cost. Income is not growing at the rate at which expense is growing, resulting in more distress & less peace. What are your views?