I think most people are actually at least a bit financially aware. They know that the loans advertised on tv with 45% yearly interest isn't good, and that they should be avoided. However, they also like the luxury of not thinking too much about how they spend their money. In my friend group the majority just don't give af if they spend 300$ on a night at the town, even if that's a good deal of money to them. They just choose to value freedom right now over freedom later, which is their choice. On the other hand you have really ignorant people who will buy a new TV with one of those 45% interest loans, and then pay it off over 5 years. These people should not be in charge of their own finances.