You know, whenever I do business on the Prairies, the conversation inevitably gets to trucks. It flabbergasts me what people spend on them. However, the people I deal with are quite proud of the large sum paid for the truck and the large sums they put into them. The conversation always goes next to taxes; the one with the tallest truck (and the highest debt) will always rail about "high taxes."
As my dad told me, "It doesn't matter what you make, it's what you spend. If you save a dollar, it's like making a dollar fifty." When I was a youngster, I wouldn't have had access to cheap borrowed money, so I kind of got used to saving up for things. It's much more satisfying if I wait to get a new toy. Even though I don't need to do this now, I still do it for fun!
Canada is at higher levels of personal debt than the USA was in 2008.