On Savings and Borrowing

Savings takes money from the now and moves it into the future.  Borrowing takes money from the future and moves it into the now. 

I have seen it happen with people who make six figure salaries, who borrowed so much money for their houses, their Lexus SUVs, their vacation homes and with their electronic toys, and ongoing costs of living have nothing in the bank to show for it.  When their children go to college they will have to do so on government loans.  If they retire, it will be through the largess of social security and medicare.  All of this because of living with all debt and no savings.  These are supposedly intelligent people, so why would they get themselves into fixes like this?  There has to be a gaping hole in their education.