I think it has more to do with the overall picture.
3 dollar gas. Driving to work and hearing about more US soldiers dying in Iraq. Healthcate costs. The cost of everything is going up. etc. It is more of a mental thing.
I am 21 and living in a 1 bed room apartment. I am living alone (for now). I am really learning how to manage money on my own and make it last. I was raised by good parents who stressed how important it is to live within our means. I think the big problem is that most Americans have eyes that are bigger than their wallets. They get a shiny credit card and go nuts with it. It catches up with people after awhile.
I think you have the right idea. Many of us don’t live within our means. I live in a nice single family home in an affluent area, whereas my parents lived in a tiny rowhome in the city. I moved up, according to them, and I did move up and we’re paying for it. I have no problem with that. I don’t have credit card debt and that’s a great thing.
Like you, my husband had to be financially independent while he was still in college so he didn’t have anyone to rely on to help him out (other than me and my parents). Anyway, we’re teaching our kids the value of money and how to manage their money.
The bottom line is if they work hard, they will make it.