Debt is basically an illusion that you owe money in the future. And people commit things for the future without thinking about the consequences. Its always easier to commit to eat healthy food next week, or planning to go to gym next year- But doing them in the present is what is difficult. For the very same reasons people are bad at saving and investments. They think they have a lot of time in the future, so they might as well splurge a little today.
From that perspective, you always feel you have time to buy a home, or start saving for a personal retirement fund. Or time to pay off your credit card bills, or the illusion that you borrow money for luxury today and defer it for the future.
As time passes and you become more cognizant of the fact that your energy levels and motivation to commit to large financial slogs like a house or a retirement fund are wearing thin, you just think you should've started being a little disciplined long back.
From that perspective, you always feel you have time to buy a home, or start saving for a personal retirement fund. Or time to pay off your credit card bills, or the illusion that you borrow money for luxury today and defer it for the future.
As time passes and you become more cognizant of the fact that your energy levels and motivation to commit to large financial slogs like a house or a retirement fund are wearing thin, you just think you should've started being a little disciplined long back.