At least in my generation, in my home town, people saved a little from each paycheck, until they had enough money to get what they desired, without going in debt. For instance, neither I, or any of my friends owned new vehicles. We always bought used, and did our own repair work. My snowmobile was a hand-me-down, with a bad engine. I had an after school job, and saved every cent, except lunch money, until /i could afford to purchase a new engine. I also bought the fiberglass, sheeting, and paint to repair the cowling. My first car was a rusted out Dodge, that burned a lot of oil. I rebuilt that engine
I did the same thing on a 69 Dodge van. I got 0ver 350,000 miles out of that vehicle, and the engine, and transmission were still good. The body was rusted out from the salt put on the roads in winter.
This was the norm, as wages weren't great, and we were taught to avoid debt. I taught my own children the same lessons. Not everyone feels the need to keep up with the Joneses.
Seeeeya; Chief Longwind of the North