[radicalbyte]

I assume from your username that you're in your mid-30s. If that's so, then it's a largely generational thing.

The generations in Western Europe who are 45-50+ have considerable wealth and thus have been able to save. For the generations below it's not really possible, on a macro level, to save money. They need all their money for housing and what's left to try to keep up the pretense that they're as successful as their elders.